Personal Financial Literacy

Savings, Banking, and Investing ECO.16A Explain the functions of financial institutions and how they affect households and businesses. ECO.16B Explain how the amount of savings in an economy is the basis of capital formation. ECO.16C Analyze the role of interest and risk in allocating savings to its most productive use. ECO.16D Examine the types of accounts available to consumers from financial institutions and the risks, monetary costs, and benefits of maintaining these accounts. ECO.17A Assess ways to be a wise investor in the stock market and in other personal investment options. ECO.17B Explain how to begin a savings program. ECO.17C Demonstrate how to maintain a checking account, including reconciling a bank statement. ECO.21A Analyze economic information by sequencing, categorizing, identifying cause-and-effect relationships, comparing, contrasting, finding the main idea, summarizing, making generalizations and predictions, and drawing inferences and conclusions. ECO.22A Use economic-related terminology correctly 

Borrowing ECO.17D Identify the types of loans available to consumers. ECO.17E Explain the responsibilities and obligations of borrowing money. ECO.17F Develop strategies to become a low-risk borrower by improving one's personal credit score. ECO.18A Examine ways to avoid and eliminate credit card debt. ECO.18B Evaluate the costs and benefits of declaring personal bankruptcy. ECO.20A understand how to complete the Free Application for Federal Student Aid (FAFSA) provided by the United States Department of Education. ECO.20B Research and evaluate various scholarship opportunities such as those from state governments, schools, employers, individuals, private companies, nonprofits, and professional organizations. ECO.20C Analyze and compare student grant options. ECO.20D Analyze and compare student loan options, including private and federal loans. ECO.20E Research and evaluate various work-study program opportunities. ECO.21D Analyze and evaluate the validity of economic information from primary and secondary sources for bias, propaganda, point of view, and frame of reference. ECO.21E Evaluate economic data using charts, tables, graphs, and maps ECO.22A Use social studies terminology correctly.