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Advanced Budgeting

Advanced Budgeting

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

Financial and Decision Making

12-1.1: Demonstrate taking responsibility for personal financial decisions.

Standards
Defined by Personal Financial Responsibility Course and Standards 12th Grade and align with Advanced Budgeting
12-1.1.1: Explain how individuals demonstrate responsibility for financial well-being over a lifetime.

12-1.4: Make financial decisions by systematically considering alternatives and consequences.

Standards
Defined by Personal Financial Responsibility Course and Standards 12th Grade and align with Advanced Budgeting
12-1.4.1: Set measurable short-term and medium-term, and long-term financial goals.
12-1.4.2: Evaluate the results of financial decisions.
12-1.4.3: Apply systematic decision making to short-term, medium-term, and long-term goals.

Relating Income and Careers

12-2.3: Explain how taxes and employee benefits relate to disposable income.

Standards
Defined by Personal Financial Responsibility Course and Standards 12th Grade and align with Advanced Budgeting
12-2.3.1: Analyze typical employee benefits and explain why they are a form of compensation.

Planning and Managing Money

12-3.1: Demonstrate ability to use money management skills and strategies.

Standards
Defined by Personal Financial Responsibility Course and Standards 12th Grade and align with Advanced Budgeting
12-3.1.1: Create a basic budget with categories for income, taxes, planned savings, and fixed and variable expenses.
12-3.1.2: Demonstrate budgeting to manage spending and achieve financial goals.

12-3.2: Develop a system for keeping and using financial records.

Standards
Defined by Personal Financial Responsibility Course and Standards 12th Grade and align with Advanced Budgeting
12-3.2.1: Demonstrate use of a system to record income and spending for purchases, services, and taxes.
12-3.2.2: Demonstrate recordkeeping that utilizes a financial institutions online account management system.

12-3.3: Analyze services of financial institutions.

Standards
Defined by Personal Financial Responsibility Course and Standards 12th Grade and align with Advanced Budgeting
12-3.3.1: Demonstrate skill in executing different payment methods, including cash, checks, stored-value cards, debit cards, credit cards, and electronic or online payment systems.
12-3.3.2: Demonstrate skill in basic financial tasks, including bill payments, check writing, reconciling checking and debit account statements, and monitoring printed and online account statements for accuracy.

12-3.4: Apply consumer skills to purchase decisions.

Standards
Defined by Personal Financial Responsibility Course and Standards 12th Grade and align with Advanced Budgeting
12-3.4.1: Evaluate impact of external factors on spending decisions.
12-3.4.2: Apply knowledge of external factors to justify a consumer buying decision.
12-3.4.3: Compare the benefits and costs of owning a house versus renting a house.

12-3.5: Connect the role of charitable giving, volunteer service, and philanthropy to community development and quality of life.

Standards
Defined by Personal Financial Responsibility Course and Standards 12th Grade and align with Advanced Budgeting
12-3.5.1: Demonstrate budgeting financial and other resources to make contributions to a charitable organization.

12-3.6: Develop a personal financial plan.

Standards
Defined by Personal Financial Responsibility Course and Standards 12th Grade and align with Advanced Budgeting
12-3.6.1: Analyze ways to modify spending practices to achieve financial goals.
12-3.6.2: Develop a personal financial plan that shows allocation of income, spending, saving/investing, and sharing/giving over a year-long time span.

Managing Credit and Debt

12-4.1: Analyze the costs and benefits of using various types of credit.

Standards
Defined by Personal Financial Responsibility Course and Standards 12th Grade and align with Advanced Budgeting
12-4.1.2: Explain how grace periods, methods of calculating interest, and fees affect borrowing costs.
12-4.1.3: Apply systematic decision making to identify the most cost-effective option for making a major purchase.

12-4.2: Analyze factors that influence establishing and maintaining a good credit rating.

Standards
Defined by Personal Financial Responsibility Course and Standards 12th Grade and align with Advanced Budgeting
12-4.2.1: Explain how a credit report affects creditworthiness and the cost of credit.
12-4.2.2: Describe ways a negative credit report affects a consumer's financial future and steps to take to improve it.

12-4.3: Analyze methods and benefits of avoiding or correcting credit and debt problems.

Standards
Defined by Personal Financial Responsibility Course and Standards 12th Grade and align with Advanced Budgeting
12-4.3.2: Describe possible consequences of excessive debt.

Risk Management and Insurance

12-5.2: Analyze the need for and value of various types of insurance across stages of the life cycle.

Standards
Defined by Personal Financial Responsibility Course and Standards 12th Grade and align with Advanced Budgeting
12-5.2.1: Analyze the amount of coverage a person needs for health, property, life, disability, and liability insurance.
12-5.2.3: Analyze factors that can reduce or increase insurance costs.

Saving and Investing

12-6.1: Explain how saving contributes to financial wellbeing.

Standards
Defined by Personal Financial Responsibility Course and Standards 12th Grade and align with Advanced Budgeting
12-6.1.1: Compare saving strategies, including "pay yourself first," payroll deduction, and comparison shopping to spend less.