Where can I read the official document?

Ohio's Model Curriculum: Financial Literacy

Grades 7, 8
Other Ohio Financial Literacy sets
Grades K, 1, 2, 3
Grades 4, 5, 6
Grades 9, 10, 11, 12

1.
Financial responsibility entails being accountable for managing money to satisfy one's current and future economic choices.7-8.1
2.
Financial responsibility involves life-long decision-making strategies, which include consideration of alternatives and consequences.7-8.2
3.
Competencies (knowledge and skills), commitment (motivation and enthusiasm), competition (globalization and automation), training, work ethic, abilities and attitude are all factors impacting one's earning potential and employability.7-8.3
4.
Income sources include job earnings and benefits, entrepreneurship, saving and investment earnings, government payments, grants, inheritances, etc. Workers can experience dramatic income dips and spikes from month to month.7-8.4
5.
Taxes, retirement, insurance, employment benefits, and both voluntary and involuntary deductions impact take-home pay.7-8.5

6.
Financial responsibility includes the development of a spending and savings plan (personal budget).7-8.6
7.
Financial institutions offer a variety of products and services to address financial responsibility.7-8.7
8.
Financial experts provide guidance and advice on a wide variety of financial issues.7-8.8
9.
Planning for and paying local, state and federal taxes is a financial responsibility.7-8.9

10.
An informed consumer makes decisions on purchases that may include a decision-making strategy to determine if purchases are within their budget.7-8.10
11.
Consumer advocates, organizations and regulations provide important information and help protect against potential consumer fraud.7-8.11
12.
Compare bank terms before opening an account.7-8.12
13.
Consumer protection laws help safeguard individuals from fraud and potential loss.7-8.13
14.
Planned purchasing decisions factor in direct (price) and indirect costs (e.g. sales/use tax, excise tax, shipping, handling, and delivery charges, etc.).7-8.14

18.
Credit is a contractual agreement in which a borrower receives something of value now and agrees to repay to lender at some later date.7-8.18
19.
Debt is an obligation owed by one party to a second party.7-8.19
20.
Effectively balancing credit and debt helps one achieve some short- and long-term goals.7-8.20
21.
Financial documents and contractual obligations inform the consumer and define the terms and conditions of establishing credit and incurring debt.7-8.21
22.
Many options exist for paying for post-secondary education opportunities.7-8.22

23.
Safeguards exist that help protect one's identity, money, and property.7-8.23

15.
Using key investing principles, one can achieve the goal of increasing net worth.7-8.15
16.
Investment strategies must take several factors into consideration, such as compounding interest, costs, fees, tax implications and the time value of money.7-8.16
17.
Government agencies are charged with regulating providers of financial services to help protect investors.7-8.17

What grade levels do these standards cover?: Grade 7 and Grade 8
When were these standards adopted?: 2019
Where can I read the official document?: Ohio's Model Curriculum: Financial Literacy

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