See all 9th-12th Grades Standards
Advanced Budgeting

Advanced Budgeting

Game • 4.0 hrs of learning
Try it Out

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

Personal Finance Course Level Expectations

I: Financial Decision Making: Choice is the central principle of individuals, businesses and government. People make many choices every day in markets where buyers and sellers interact. Every decision incurs an opportunity cost.

Concept 1: Unlimited Wants and Limited Resources

Standards
Defined by Personal Finance Course Level Expectations 9th-12th Grades and align with Advanced Budgeting
A: Evaluate the role of choice in decision making.
B: Apply a rational decision-making process to satisfy wants.

Concept 2: Choice and Decision Making

Standards
Defined by Personal Finance Course Level Expectations 9th-12th Grades and align with Advanced Budgeting
A: Explain how today's choices have future consequences.
C: Analyze how choices can result in unintended consequences.

II: Earning Income: For most people, income is determined by the market value of their labor paid as wages and salaries. People can increase their income and job opportunities through education, skill building and work experience.

Concept 3: Taxes and Other Deductions

Standards
Defined by Personal Finance Course Level Expectations 9th-12th Grades and align with Advanced Budgeting
A: Compare gross and net income.

III: Buying Goods and Services: People choose which goods and services to buy. Informed decisions involve collecting information, planning and budgeting.

Concept 1: Creating a Budget

Standards
Defined by Personal Finance Course Level Expectations 9th-12th Grades and align with Advanced Budgeting
B: Analyze spending habits to recognize current spending and saving trends.
C: Create a budget that includes savings goals, emergency funds, fixed expenses and variable expenses.
E: Prioritize expenses and payment due dates.

Concept 2: Purchasing Items of High Value

Standards
Defined by Personal Finance Course Level Expectations 9th-12th Grades and align with Advanced Budgeting
A: Conduct research on product options to plan future purchases such as a phone, car, home or vacation.

IV: Saving: Saving is the part of income that people choose to set aside for future consumption or investment. Time, interest rates and inflation affect the value of savings.

Concept 1: Reasons for Saving

Standards
Defined by Personal Finance Course Level Expectations 9th-12th Grades and align with Advanced Budgeting
C: Explain the importance of a rainy-day fund for unexpected expenses.

V: Using Credit: Credit allows people to purchase goods and services now and repay those costs in the future. Lenders approve or deny credit based on the borrower's creditworthiness.

Concept 1: Facets of Credit

Standards
Defined by Personal Finance Course Level Expectations 9th-12th Grades and align with Advanced Budgeting
E: Explain the purpose, functions and costs of a mortgage.

Concept 2: Interest on Credit

Standards
Defined by Personal Finance Course Level Expectations 9th-12th Grades and align with Advanced Budgeting
B: Calculate the total purchase price of a good or service including interest paid.
C: Explain the relationship between risk and interest, including creditworthiness and down payment.

Concept 3: Credit Worthiness

Standards
Defined by Personal Finance Course Level Expectations 9th-12th Grades and align with Advanced Budgeting
A: Evaluate factors that affect creditworthiness including paying on time and payment history.
B: Explain the purpose and components of credit records and credit history as provided by credit bureaus.