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Advanced Budgeting

Advanced Budgeting

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Here's how Advanced Budgeting aligns with curriculum standards in Colorado. Use the filters to change the location, set of standards, and grade level.

FL.HS.5.1: Apply reliable information to make systematic personal financial decisions based on individual and community values and goals.

Students Can

Standards
Defined by Colorado Academic Standards: Financial Literacy 9th-12th Grades and align with Advanced Budgeting
a: Recognize the alternatives, consequences, and responsibilities associated with personal financial decisions.
c: Formulate strategies to protect personal and financial information.
d: Develop a system for keeping and using financial records.

Colorado Essential Skills

Standards
Defined by Colorado Academic Standards: Financial Literacy 9th-12th Grades and align with Advanced Budgeting
1: Make predictions and design data/information collection and analysis strategies (Critical Thinking and Analysis).

Inquiry Questions

Standards
Defined by Colorado Academic Standards: Financial Literacy 9th-12th Grades and align with Advanced Budgeting
5: What are different methods of financial record keeping?
6: How can an individual create a financial plan aligned with their personal values and goals?

Nature and Skills of Personal Financial Literacy

Standards
Defined by Colorado Academic Standards: Financial Literacy 9th-12th Grades and align with Advanced Budgeting
2: Financially capable individuals demonstrate effective financial decision-making by comparing costs and benefits of alternatives.

Disciplinary, Information, and Media Literacy

Standards
Defined by Colorado Academic Standards: Financial Literacy 9th-12th Grades and align with Advanced Budgeting
2: Analyze how incentives influence choices that may result in policies with a range of costs and benefits for different groups.

FL.HS.5.2: Analyze sources of income and the relationship between career preparation, continuing education, and its impact on lifetime earning potential.

Students Can

Standards
Defined by Colorado Academic Standards: Financial Literacy 9th-12th Grades and align with Advanced Budgeting
h: Simulate a sustainable household budget based on future personal and career goals.

Inquiry Questions

Standards
Defined by Colorado Academic Standards: Financial Literacy 9th-12th Grades and align with Advanced Budgeting
5: How might life circumstances impact a household budget?

Nature and Skills of Personal Financial Literacy

Standards
Defined by Colorado Academic Standards: Financial Literacy 9th-12th Grades and align with Advanced Budgeting
5: Financially capable individuals calculate the sustainable household income given specific market conditions and lifestyle circumstances which provides consumers with income earning goals when deciding employment, career path, and professional development.

Disciplinary, Information, and Media Literacy

Standards
Defined by Colorado Academic Standards: Financial Literacy 9th-12th Grades and align with Advanced Budgeting
1: Analyze how incentives influence choices that may result in policies with a range of costs and benefits for different groups.

FL.HS.5.3: Apply consumer skills to budgeting, spending, saving, and borrowing decisions.

Students Can

Standards
Defined by Colorado Academic Standards: Financial Literacy 9th-12th Grades and align with Advanced Budgeting
b: Summarize factors to consider when selecting borrowing options, including costs, relevance, payoffs, and tradeoffs. For example: Comparing student, auto, home, and payday loans.
c: Explain how an individual's credit history can affect borrowing power.
d: Design a household budget (using gross and net income) that addresses financial obligations and integrates saving for future goals and retirement based on your values and goals.
e: Describe how to use and manage different types of accounts and payment methods.
f: Compare the advantages and disadvantages of various types of credit.
g: Summarize the advantages and disadvantages of leasing versus purchasing automobiles, homes, and other large purchases.

Colorado Essential Skills

Standards
Defined by Colorado Academic Standards: Financial Literacy 9th-12th Grades and align with Advanced Budgeting
1: Make predictions and design data/information collection and analysis strategies (Critical Thinking and Analysis).
2: Take responsibility for spending decisions and borrowing decisions (Self-Advocacy and Initiative).

Inquiry Questions

Standards
Defined by Colorado Academic Standards: Financial Literacy 9th-12th Grades and align with Advanced Budgeting
1: How might changes in the economic cycle and market conditions affect household saving and spending habits?
2: How might changes in lifestyle, income, or life circumstances affect a household financial plan?
5: How can individuals take steps to begin building credit?
8: When might it make sense to take on debt? When does it not make sense?
11: How does taking on debt impact finances?
12: What types of decisions can be made in order to avoid debt?
14: What impacts do different types of interest rates have on consumers? For example: Fixed rates, variable rates, and adjustable-rate mortgages.

Nature and Skills of Personal Financial Literacy

Standards
Defined by Colorado Academic Standards: Financial Literacy 9th-12th Grades and align with Advanced Budgeting
1: Financially capable individuals demonstrate effective decision-making based on their values and preferences and by comparing costs and benefits of alternatives.
2: Financially capable individuals plan and monitor spending and saving to fulfill financial obligations and achieve goals as part of a comprehensive financial plan.

Disciplinary, Information, and Media Literacy

Standards
Defined by Colorado Academic Standards: Financial Literacy 9th-12th Grades and align with Advanced Budgeting
3: Analyze how consumer choices have different costs and benefits.
5: Read and comprehend a consumer credit report.

FL.HS.5.4: Explore a diversified investment strategy that is compatible with personal financial goals.

Nature and Skills of Personal Financial Literacy

Standards
Defined by Colorado Academic Standards: Financial Literacy 9th-12th Grades and align with Advanced Budgeting
3: Financially capable individuals create plans based on sound financial planning principles to maximize their standard of living over time.

FL.HS.5.5: Choose risk management strategies for protection from the financial risk of lost income, lost or damaged property, health issues, or identity fraud.

Students Can

Standards
Defined by Colorado Academic Standards: Financial Literacy 9th-12th Grades and align with Advanced Budgeting
a: Evaluate strategies for consumers to avoid financial risk, reduce risk, accept risk, or transfer risk to others through insurance.
c: Explain the types and purpose of insurance products. For example: Automotive, identity theft, health, disability, long-term care, life insurance, renters/homeowners' insurance, and professional liability.
d: Outline steps to monitor and safeguard personal financial data to minimize, avoid and/or resolve identity theft or fraud issues.

Inquiry Questions

Standards
Defined by Colorado Academic Standards: Financial Literacy 9th-12th Grades and align with Advanced Budgeting
1: How are individuals, groups of consumers, and markets impacted by unexpected financial obligations due to property loss or damage, loss of income, health care issues, and fraud?
5: How does insurance fit into an individual's comprehensive financial plan?

Nature and Skills of Personal Financial Literacy

Standards
Defined by Colorado Academic Standards: Financial Literacy 9th-12th Grades and align with Advanced Budgeting
1: Financially capable individuals mitigate the financial risks associated with everyday life through planning for the unexpected, saving for emergencies, acquiring insurance, and securing personal information.
2: Financially capable individuals consider insurance as a part of a lifetime comprehensive financial plan.