Wisconsin
3rd-5th Grades
State Standards
Personal Financial Literacy
FM: Financial Mindset
FM1: Students will develop strategies to make intentional financial decisions throughout their lifespan.
FM1.a: Critical Consumer
FM1.a.i: Describe the steps in making a purchase (i.e., consumer buying process). Identify items that can be used in making consumer decisions (e.g., comparison shopping skills regarding price or substitutes). Predict the motives of a sales claim and explain how consumers would verify information delivered through a range of advertisements (e.g., digital, print, audio, or product/service reviews).
FM1.b: Functions and Structure of Money
FM1.b.i: Describe the role of money in everyday life.
FM1.c: Opportunity Costs
FM1.c.i: Compare and contrast the costs and benefits of a decision. Explain that choices may have long-term unintended consequences.
FM2: Students will analyze how aspects of financial psychology impact financial well-being.
FM2.a: Values and Behavior
FM2.a.i: Examine different cultural perspectives and behaviors regarding financial values and goals across communities.
FM2.b: Emotional Influences
FM2.b.i: Describe how emotions impact financial decisions.
FM2.c: External Influences
FM2.c.i: Explain ways financial decisions are influenced by external factors.
FM2.d: Financial Goals
FM2.d.i: Explain short- and long-term financial goal setting.
EE: Education and Employment
EE1: Students will compare the effect of personal income on their goals.
EE1.a: Career Development
EE1.a.i: Build an ongoing awareness of personal abilities, skills, interests, and motivation, and determine how these fit with a chosen career pathway. Compare and contrast occupations relative to personal interests, aptitudes, and potential earnings (i.e., military service, apprenticeship, skilled trades, and professional occupations).
MM: Money Management
MM1: Students will demonstrate their ability to use money management skills and strategies.
MM1.a: Budgeting
MM1.a.i: Provide examples of household expenses and sources of income.
MM1.b: Financial Management
MM1.b.i: Identify age-appropriate ways to save, spend, and give money. Identify the personal information necessary to establish a financial account (e.g., personal details, contact information, and social security number).
MM2: Students will utilize financial institutions and service providers to support money management.
MM2.a: Financial Institutions and Service Providers
MM2.a.i: Identify the services and resources that financial institutions provide consumers.
MM2.b: Payment Types
MM2.b.i: Investigate multiple ways to pay for goods and services. Compare digital banking methods and cash payments for purchasing goods and services. Identify methods to prove income has been received and payment has been made.
MM2.c: Alternative Financial Currency
MM2.c.i: Differentiate between debit- and credit-types of financial currency.
SI: Saving and Investing
SI1: Students will explore savings concepts and apply this knowledge to attain financial security.
SI1.a: Saving Principles
SI1.a.i: Describe reasons why people save money. Explain the phrase pay yourself first.
SI1.b: Savings Types and Features
SI1.b.i: Describe why a person deposits money into a financial institution. Describe characteristics of a secure savings account.
SI1.c: Saving Goal Planning
SI1.c.i: Identify steps to reach a savings goal. Explain how people make spending and saving choices to meet personal savings goals.
SI1.d: Saving Risk and Reward
SI1.d.i: Compare types of risks and rewards when saving (e.g., no loss of principal, interest-bearing).