Advanced Budgeting

Game • 4.0 hrs of learning

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

Location

Standard

Grades

Financial Literacy

Standard 1.0: Assess the role of money in personal finance.

Performance Indicator 1.4: Assess the role of budgeting in meeting financial goals.

Standards

Defined by Financial Literacy Model Framework 10th-12th Grades and align with Advanced Budgeting

1.4.1: Distinguish between wealth and net worth, comparing and contrasting the two.

1.4.2: Use a goal‑setting strategy to create personal financial goals (short‑ and long‑term planning).

1.4.3: Determine the purpose and need for a budget, identifying factors such as charitable giving, saving, food, clothing, transportation, personal expenses, insurance, household expenses, and recreation.

1.4.4: Explain the reasons for saving and discuss several methods of saving to reach financial goals.

1.4.5: Create and balance a budget, incorporating financial‑management strategies.

1.4.6: Examine factors that influence consumer spending and demonstrate financially beneficial shopping strategies.

Standard 3.0: Demonstrate the ability to use credit as a financial tool.

Performance Indicator 3.1: Evaluate the use of credit in effective financial management.

Standards

Defined by Financial Literacy Model Framework 10th-12th Grades and align with Advanced Budgeting

3.1.3: Calculate the actual costs associated with credit.

3.1.4: Examine the credit‑card and loan‑application process, including factors related to credit approval.

3.1.5: Evaluate the risks associated with over‑extending credit, types of debt management, and how bankruptcy may affect future financial opportunities.

3.1.7: Determine the impact that a down‑payment has on the cost of a loan and how it decreases risk for the lender.

Performance Indicator 3.2: Assess the impact of using credit cards to manage credit.

Standards

Defined by Financial Literacy Model Framework 10th-12th Grades and align with Advanced Budgeting

3.2.3: Analyze how credit‑card use influences credit score.

Standard 4.0: Evaluate the use of insurance for risk management.

Performance Indicator 4.2: Investigate types of insurance available in the marketplace.

Standards

Defined by Financial Literacy Model Framework 10th-12th Grades and align with Advanced Budgeting

4.2.1: Analyze auto‑insurance coverage and factors affecting cost.

4.2.4: Assess the need for home‑owners and rental insurance.

Standard 6.0: Determine financial strategies used to meet personal goals.

Performance Indicator 6.2: Evaluate housing options in relation to achieving financial goals.

Standards

Defined by Financial Literacy Model Framework 10th-12th Grades and align with Advanced Budgeting

6.2.1: Compare and contrast the actual costs and benefits of renting vs. owning.

6.2.2: Analyze factors in determining mortgage costs.