Where can I read the official document?

Academic Standards for Personal Finance Grades K-12

Grades 3 to 5
Other Pennsylvania Personal Finance sets
Kindergarten to Grade 2
Grades 6 to 8
Grades 9 to 12

Financial goal setting and decision making
1. A
  Describe reasons people set financial goals. 17.1.3-5.A
2. B
  Identify the opportunity cost of various financial decisions, including ones related to earning, spending, and saving.17.1.3-5.B
Financial mindset and behaviors
1. C
  Explain how life circumstances and experiences can alter attitudes toward money. 17.1.3-5.C
2. D
  Identify financial decisions people make that may not be in their best interest.17.1.3-5.D
3. E
  Describe conversations people have about money.17.1.3-5.E
Financial services
1. F
  Identify products and services provided by financial institutions. 17.1.3-5.F
2. G
  Intentionally blank17.1.3-5.G
3. H
  Intentionally blank17.1.3-5.H
Financial record keeping
1. I
  Intentionally blank17.1.3-5.I
2. J
  Intentionally blank17.1.3-5.J
Consumer protection
1. K
  Intentionally blank 17.1.3-5.K
2. L
  Intentionally blank17.1.3-5.L

Sources of income
1. A
  Describe how people receive income (e.g., work, gifts, renting property to others).17.2.3-5.A
2. B
  Intentionally blank17.2.3-5.B
Factors influencing income
1. C
  Explain ways people improve their ability to earn income through education, training, and experience.17.2.3-5.C
2. D
  Intentionally blank17.2.3-5.D
3. E
  Intentionally blank17.2.3-5.E
4. F
  Intentionally blank 17.2.3-5.F
Self-employment and supplemental income
1. G
  Describe how people earn income through entrepreneurship and supplemental employment.17.2.3-5.G
Income and payroll taxes
1. H
  Intentionally blank 17.2.3-5.H
2. I
  Intentionally blank17.2.3-5.I

Spending decisions
1. A
  Explain factors that influence a person's spending decisions and the impact these has on how they prioritize their wants.17.3.3-5.A
2. B
  Intentionally blank 17.3.3-5.B
Developing a budget
1. C
  Provide examples of household spending and sources of income.17.3.3-5.C
2. D
  Construct a simple budget (e.g., for a family, individual, or school event). 17.3.3-5.D
3. E
  Intentionally blank17.3.3-5.E
4. F
  Intentionally blank17.3.3-5.F
Payment methods
1. G
  Explain various payment methods (e.g., cash, checks, gift cards, debit cards, credit cards).17.3.3-5.G
2. H
  Intentionally blank17.3.3-5.H
3. I
  Intentionally blank17.3.3-5.I
Major life purchases
1. J
  Intentionally blank17.3.3-5.J
2. K
  Intentionally blank 17.3.3-5.K
Sales and Property Taxes
1. L
  Identify taxes applied to certain purchases.17.3.3-5.L
Charitable Giving
1. M
  Identify reasons people participate in fundraising efforts and the causes they support.17.3.3-5.M

Asset building
1. A
  Identify items that might increase or decrease in value over time.17.4.3-5.A
Saving
1. B
  Describe a variety of savings goals and the factors that influence them.17.4.3-5.B
2. C
  Identify reasons people deposit money to be saved in accounts at financial institutions and factors they might consider when selecting a financial institution.17.4.3-5.C
Investing
1. D
  Intentionally blank17.4.3-5.D
2. E
  Intentionally blank17.4.3-5.E
3. F
  Intentionally blank17.4.3-5.F
4. G
  Intentionally blank 17.4.3-5.G
5. H
  Intentionally blank17.4.3-5.H
6. I
  Intentionally blank17.4.3-5.I
Investing risk tolerance
1. J
  Intentionally blank17.4.3-5.J
2. K
  Intentionally blank17.4.3-5.K

Risk identification and management
1. A
  Describe how unexpected events could impact a person's finances (e.g., floods, automobile accidents, illness).17.5.3-5.A
2. B
  Explain how emergency savings can be used to offset losses from unexpected events17.5.3-5.B
Insurance
1. C
  Provide examples of insurance people buy in order to transfer financial risk (e.g., health, auto, flood).17.5.3-5.C
2. D
  Intentionally blank17.5.3-5.D
3. E
  Intentionally blank17.5.3-5.E
4. F
  Intentionally blank17.5.3-5.F
5. G
  Intentionally blank 17.5.3-5.G
Financial fraud and identity theft
1. H
  Predict the financial consequences of sharing personal information.17.5.3-5.H
2. I
  Intentionally blank17.5.3-5.I

Credit use and benefits
1. A
  Identify traits that could impact a person's ability to borrow items or money.17.6.3-5.A
2. B
  Intentionally blank17.6.3-5.B
Types of credit
1. C
  Identify goods and services people often pay for over time using credit. 17.6.3-5.C
2. D
  Describe how using a credit card is a form of borrowing.17.6.3-5.D
Costs of credit
1. E
  Explain why borrowers might be asked to repay more than they initially borrowed (e.g., interest, fees).17.6.3-5.E
2. F
  Intentionally blank17.6.3-5.F
Credit rights and responsibilities
1. G
  Intentionally blank17.6.3-5.G

What grade levels do these standards cover?: Grade 3, Grade 4, and Grade 5
Where can I read the official document?: Academic Standards for Personal Finance Grades K-12

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