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Life Scenarios

Life Scenarios

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

PFL.1: The student will describe the importance of earning an income and explain how to manage personal income through the use of a budget.

Standards
Defined by Personal Financial Literacy 7th-12th Grades and align with Life Scenarios
PFL 1.4: Identify the components of a personal/family budget (e.g., income, savings/investments, taxes, emergency fund, expenses, and charitable giving) based on specific goals (e.g., financial, personal, educational, and career).

PFL 1.3: Explain how to manage personal income and expenses to be a financially responsible citizen.

Standards
Defined by Personal Financial Literacy 7th-12th Grades and align with Life Scenarios
B: Differentiate between needs and wants in order to develop short, medium, and long-term goals that are specific, measurable, attainable, realistic, and time-based.

PFL.7: The student will identify the process and analyze the responsibilities of borrowing money.

PFL 7.1: Compare sources and products related to borrowing money.

Standards
Defined by Personal Financial Literacy 7th-12th Grades and align with Life Scenarios
B: Describe various credit products (e.g., credit cards, car loans, and mortgages).

PFL 7.3: Describe the process of borrowing money.

Standards
Defined by Personal Financial Literacy 7th-12th Grades and align with Life Scenarios
B: Explain how the terms of borrowing (e.g., interest rates, APR, fees, repayment schedules, terms, and conditions) affect the cost of borrowing.

PFL.8: The student will describe and explain interest, credit cards, and online commerce.

PFL 8.1: Evaluate the costs and benefits of using credit cards for purchasing goods and services.

Standards
Defined by Personal Financial Literacy 7th-12th Grades and align with Life Scenarios
A: Explain how interest rates and fees impact the cost of using credit cards.
B: Describe options for payment on credit cards, such as minimum payment, delayed payment, and payment in full.

PFL.10: The student will explain and compare the costs and benefits of renting versus buying a home.

Standards
Defined by Personal Financial Literacy 7th-12th Grades and align with Life Scenarios
PFL 10.2: Describe the elements and terms of a standard lease agreement (e.g., deposit, due date, grace period, late fees, and utilities).

PFL.11: The student will describe and explain how various types of insurance can be used to manage risk.

PFL 11.2: Explain the importance of insurance as a risk management strategy used by financially responsible individuals.

Standards
Defined by Personal Financial Literacy 7th-12th Grades and align with Life Scenarios
A: Describe common types of insurance purchased by consumers, such as health, property, life, disability, automobile, and renter's insurance.

PFL.14: The student will explain the costs and benefits of charitable giving.

PFL 14.1: Explain civic responsibilities and opportunities related to charitable giving.

Standards
Defined by Personal Financial Literacy 7th-12th Grades and align with Life Scenarios
A: Describe reasons why individuals engage in charitable giving, such as personal reward, community improvement, and tax deduction.
C: Describe how charitable giving can fit into one's spending plan.