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General Information
Number: SS.8.FL.3
Title: Saving
Type:
Standard
Subject: Social Studies
Grade: 8
Strand: Financial Literacy (Adopted in 2023)
Related Benchmarks
This cluster includes the following benchmarks.
Related Access Points
This cluster includes the following access points.
Access Points
SS.8.FL.3.AP.1
Identify how financial institutions use deposited funds to gain profit and offer loans.
SS.8.FL.3.AP.2
Identify an interest rate as the price paid for using someone else’s money, expressed as a percentage of the amount saved.
SS.8.FL.3.AP.3
Identify why banks that experience an increase in the number of people who want loans may decide to pay higher interest rates on deposits.
SS.8.FL.3.AP.5
Identify principle as the initial amount of money upon which interest is paid.
SS.8.FL.3.AP.6
Identify the value of a person’s savings in the future as determined by the amount saved and the interest rate.
SS.8.FL.3.AP.7
Identify the different reasons that people save money, including large purchases, retirement, and unexpected events.
SS.8.FL.3.AP.8
Identify how the FDIC and NCUA protect your investments and savings in financial institutions.
SS.8.FL.3.AP.4
Identify how when interest rates increase, people earn more on their savings and their savings grow more quickly.
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Lesson Plans
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