See all 9th-12th Grades Standards
Life Scenarios

Life Scenarios

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Here's how Life Scenarios aligns with curriculum standards in Washington DC. Use the filters to change the location, set of standards, and grade level.

Earning Income

Skills Standards

EI.S.4: Identify the different forms and functions of taxation, and determine estimated payroll taxes, income taxes, property taxes and sales taxes.

Standards
Defined by Financial Literacy Standards 9th-12th Grades and align with Life Scenarios
Students will calculate payroll tax, income tax, property tax and sales tax using a set of financial data.

Spending

Knowledge Standards

SP.K.5: Analyze factors influencing housing decisions and accessibility, such as individual preferences, discriminatory practices, costs, tax credits, budgets and housing availability and evaluate the consequences of various choices on personal satisfaction and financial well-being.

Standards
Defined by Financial Literacy Standards 9th-12th Grades and align with Life Scenarios
Students will identify financial and personal reasons that individuals often choose to rent a home instead of buying.
Students will examine short-term and long-term costs and benefits of renting versus buying a home.

Skills Standards

SP.S.1: Create a budget based on changing individual inputs, constraints and goals.

Standards
Defined by Financial Literacy Standards 9th-12th Grades and align with Life Scenarios
Students will develop a budget to allocate current income to necessary and desired spending, including estimates for both fixed and variable expenses.
Students will identify their short-term and long-term financial goals.
Students will create a system to efficiently track their expenditures using different methods.
Students adjust a budget for unexpected expenses or emergencies.

SP.S.2: Analyze the various forms of payment an individual can utilize for expenditures.

Standards
Defined by Financial Literacy Standards 9th-12th Grades and align with Life Scenarios
Students will distinguish between different forms and functions of payment, including cash, check, cashier's check, debit card, credit card, money orders and electronic payments.

SP.S.3: Assess the impact of unexpected expenses (e.g., medical emergencies, layoffs, car accidents), and develop effective strategies for managing these expenses.

Standards
Defined by Financial Literacy Standards 9th-12th Grades and align with Life Scenarios
Students will determine strategies to respond to unexpected expenses.

SP.S.5: Interpret the cost of purchasing or leasing a new or used vehicle, including down payment, interest rate, loans and registration.

Standards
Defined by Financial Literacy Standards 9th-12th Grades and align with Life Scenarios
Students will compare different vehicle options, including electric vehicles, hybrid vehicles and gas vehicles.
Students will identify required processes for registering a vehicle after purchase.
Students will calculate the required down payment for a vehicle purchase or lease.
Students will determine total interest that will be paid over the lifetime of loan used to purchase a vehicle.

Credit

Skills Standards

CR.S.1: Examine the cost of credit using the Annual Percentage Rate (APR), Effective Annual Rate (EAR) or the actual rate to be paid based on the period of compounding and other terms in the contract for a credit card or loan for purchases.

Standards
Defined by Financial Literacy Standards 9th-12th Grades and align with Life Scenarios
Students will analyze how credit card grace periods, methods of interest calculation and fees affect borrowing costs.
Students will compare the cost of borrowing $1,000 using consumer credit options that differ in rates and fees.

Managing Risk

Knowledge Standards

MR.K.3: Explain different auto, homeowners and renters insurance reimbursements to policyholders for financial losses to their covered property and the costs of legal liability for their damages to other people or property.

Standards
Defined by Financial Literacy Standards 9th-12th Grades and align with Life Scenarios
Students will explain the primary types of losses covered by auto, homeowners and renters insurance policies.
Students will explain factors that influence the cost of renters insurance and homeowners insurance.
Students will explain situations where someone may be liable for injuries or damage to another person or their property.