See all 9th-12th Grades Standards
Life Scenarios

Life Scenarios

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

I: Financial Decision Making: Choice is the central principle of individuals, businesses and government. People make many choices every day in markets where buyers and sellers interact. Every decision incurs an opportunity cost.

Concept 1: Unlimited Wants and Limited Resources

Standards
Defined by Personal Finance Course Level Expectations 9th-12th Grades and align with Life Scenarios
A: Evaluate the role of choice in decision making.
B: Apply a rational decision-making process to satisfy wants.

Concept 2: Choice and Decision Making

Standards
Defined by Personal Finance Course Level Expectations 9th-12th Grades and align with Life Scenarios
B: Explain the causal relationship between choice and opportunity cost.

III: Buying Goods and Services: People choose which goods and services to buy. Informed decisions involve collecting information, planning and budgeting.

Concept 1: Creating a Budget

Standards
Defined by Personal Finance Course Level Expectations 9th-12th Grades and align with Life Scenarios
A: Differentiate between income and expenses.
C: Create a budget that includes savings goals, emergency funds, fixed expenses and variable expenses.
E: Prioritize expenses and payment due dates.

Concept 3: Considering Alternative Goods and Services

Standards
Defined by Personal Finance Course Level Expectations 9th-12th Grades and align with Life Scenarios
A: Evaluate substitutes when the price of goods or services exceeds your budget.

Concept 4: Selecting Financial Institutions

Standards
Defined by Personal Finance Course Level Expectations 9th-12th Grades and align with Life Scenarios
B: Calculate an account balance by recording deposits, withdrawals and debit transactions.

IV: Saving: Saving is the part of income that people choose to set aside for future consumption or investment. Time, interest rates and inflation affect the value of savings.

Concept 1: Reasons for Saving

Standards
Defined by Personal Finance Course Level Expectations 9th-12th Grades and align with Life Scenarios
B: Develop a savings plan.

V: Using Credit: Credit allows people to purchase goods and services now and repay those costs in the future. Lenders approve or deny credit based on the borrower's creditworthiness.

Concept 2: Interest on Credit

Standards
Defined by Personal Finance Course Level Expectations 9th-12th Grades and align with Life Scenarios
B: Calculate the total purchase price of a good or service including interest paid.