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Individual Financial and Investment Planning
Standard 4 : Individual Financial PlanningArchived
Cluster Standards

This cluster includes the following benchmarks.

Visit the specific benchmark webpage to find related instructional resources.

  • MA.912.F.4.1 : Develop personal budgets that fit within various income brackets.
  • MA.912.F.4.2 : Explain cash management strategies including debit accounts, checking accounts, and savings accounts.
  • MA.912.F.4.3 : Calculate net worth.
  • MA.912.F.4.4 : Establish a plan to pay off debt.
  • MA.912.F.4.5 : Develop and apply a variety of strategies to use tax tables, and to determine, calculate, and complete yearly federal income tax.
  • MA.912.F.4.6 : Compare different insurance options and fees.
  • MA.912.F.4.7 : Compare and contrast the role of insurance as a device to mitigate risk and calculate expenses of various options.
  • MA.912.F.4.8 : Collect, organize, and interpret data to determine an effective retirement savings plan to meet personal financial goals.
  • MA.912.F.4.9 : Calculate, compare, and contrast different types of retirement plans, including IRAs, ROTH accounts, and annuities.
  • MA.912.F.4.10 : Analyze diversification in investments.
  • MA.912.F.4.11 : Purchase stock with a set amount of money, and follow the process through gains, losses, and selling.
  • MA.912.F.4.12 : Compare and contrast income from purchase of common stock, preferred stock, and bonds.
  • MA.912.F.4.13 : Given current exchange rates be able to convert from one form of currency to another.
  • MA.912.F.4.14 : Use data to compare historical rates of return on investments with investment claims to make informed decisions and identify potential fraud.
Cluster Information
Number:
MA.912.F.4
Title:
Individual Financial Planning
Type:
Standard
Subject:
X-Mathematics (former standards - 2008) - Archived
Grade:
912
Body of Knowledge
Financial Literacy
Cluster Access Points

This cluster includes the following Access Points.

  • MA.912.F.4.In.a : Create a personal budget that fits take-home income after taxes.
  • MA.912.F.4.In.b : Use real-world strategies needed to manage personal income.
  • MA.912.F.4.In.c : Identify differences in methods for saving money, such as a savings account, money market account, or savings bonds.
  • MA.912.F.4.In.d : Identify reliable sources to assist with personal money management, tax preparation, and financial decisions.
  • MA.912.F.4.In.e : Use strategies to determine how much sales and income tax must be paid in real-world situations.
  • MA.912.F.4.In.f : Identify purposes of different types of insurance, such as health, automobile, tenant, and life insurance.
  • MA.912.F.4.Su.a : Distinguish between income and expenses.
  • MA.912.F.4.Su.b : Identify a personal budget that fits take-home income after taxes.
  • MA.912.F.4.Su.c : Identify a method for saving money, such as a savings account.
  • MA.912.F.4.Su.d : Identify reliable sources of assistance for personal money management and financial decisions.
  • MA.912.F.4.Su.e : Identify additional charges, such as sales tax and service fees, that may change the original cost of an item.
  • MA.912.F.4.Su.f : Identify different types of insurance, such as health, automobile, and life insurance.
Cluster Resources

Vetted resources educators can use to teach the concepts and skills in this topic.

Data Set
Lesson Plan
  • Budgeting: Finding Personal Financial Success: During this lesson, students will learn about budgets, checking and savings accounts, and interest. They will then have a research activity to focus on their future lives, which they will use to create a budget for their lives after they have finished their education and/or job training. This budget will be created using a spreadsheet or other technology to explore how various factors, such as interest rates, will affect their budget and necessary income.

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