Indiana
8th Grade
State Standards
Financial and Decision Making
8-1.1Demonstrate taking responsibility for personal financial decisions.
8-1.1.1Describe the benefits of financial responsibility and the costs of financial irresponsibility.
8-1.2Analyze financial information from a variety of reliable sources.
8-1.2.1Analyze online and printed sources of financial information by describing strengths and weaknesses of each.
8-1.3Utilize consumer protection laws and resources.
8-1.3.1Identify the primary consumer protection agency in Indiana.
8-1.3.2Describe unfair or deceptive business practices that are forbidden by consumer protection laws.
8-1.3.3Explain steps for resolving a consumer complaint.
8-1.4Make financial decisions by systematically considering alternatives and consequences.
8-1.4.1Set measurable short-term, medium-term, and long-term financial goals.
8-1.4.2Evaluate the results of financial decisions.
8-1.4.3Apply systematic decision making to short-term, medium-term, and long-term goals.
8-1.5Demonstrate communication strategies for discussing financial issues.
8-1.5.1Explain benefits of discussing important financial matters with household members and/or financial personnel.
8-1.6Demonstrate strategies to control personal information.
8-1.6.1Describe the possible consequences of disclosing particular types of personal information to others.
Relating Income and Careers
8-2.1Describe how career choice, education, skills, entrepreneurship, and economic conditions affect income.
8-2.1.1Explain how an individual's interests, knowledge, abilities, and career and job choices affect income.
8-2.1.2Summarize the financial risks and benefits of entrepreneurship as a career choice.
8-2.2Identify sources of personal income.
8-2.3Explain how taxes and employee benefits relate to disposable income.
8-2.3.1Describe taxable income and employee benefits.
8-2.3.2Describe the items commonly included in payroll deductions.
Planning and Managing Money
8-3.1Demonstrate ability to use money management skills and strategies.
8-3.1.1Explain basic budget categories, including income, taxes, planned savings, and fixed and variable expenses.
8-3.1.2Explain the relationship between spending practices and achieving financial goals.
8-3.2Develop a system for keeping and using financial records.
8-3.2.1Create a system to record income and spending for purchases, services, and taxes.
8-3.2.2Create a system for organizing product information and warranties and financial documents such as receipts and account statements.
8-3.3Analyze services of financial institutions.
8-3.3.1Compare the advantages and disadvantages of different payment methods, including cash, checks, stored-value cards, debit cards, credit cards, and electronic or online payment systems.
8-3.3.2Demonstrate steps in establishing and maintaining financial accounts including checking and savings accounts, online banking, investments, and other financial services.
8-3.4Apply consumer skills to purchase decisions.
8-3.4.1Analyze how external factors, such as marketing and advertising techniques, influence spending decisions for different individuals.
8-3.4.2Use reliable consumer resources and practices to make buying decisions.
8-3.4.3Apply systematic decision making to choose among courses of action that include a range of spending, delayed spending, and non-spending alternatives.
8-3.5Connect the role of charitable giving, volunteer service, and philanthropy to community development and quality of life.
8-3.5.1Determine how charitable giving can fit into a personal budget and appropriate percentages for giving.
8-3.7Examine the purpose and value of estate planning.
Managing Credit and Debt
8-4.1Analyze the costs and benefits of using various types of credit.
8-4.1.1Compare advantages and disadvantages of various types of credit.
8-4.1.2Explain factors to consider when using credit or obtaining a loan.
8-4.1.3Determine the total cost of repaying credit and loans under various rates of interest and over different periods.
8-4.2Analyze factors that influence establishing and maintaining a good credit rating.
8-4.2.1Describe the information in a credit report and how long it is retained.
8-4.2.2Explain the value of a positive credit history and credit reports to consumers, borrowers and lenders.
8-4.3Analyze methods and benefits of avoiding or correcting credit and debt problems.
8-4.3.1Identify possible credit and debt problems and ways to avoid them.
8-4.3.2Describe actions that a consumer can take to reduce or better manage excessive debt.
8-4.4Analyze major consumer credit laws.
8-4.4.1Explain the rights, responsibilities, and protections of buyers and sellers under consumer credit laws.
Risk Management and Insurance
8-5.1Analyze the nature of personal financial risk and the importance of protecting against financial loss.
8-5.1.1Explain the relationship between risk and insurance.
8-5.2Analyze the need for and value of various types of insurance across stages of the life cycle.
8-5.2.1Describe the need for and value of health, property, life, disability, and liability insurance.
8-5.2.2Identify factors to consider when determining the amount of protection needed.
8-5.2.3Identify factors that can influence insurance costs.
8-5.3Apply concepts related to financial risk, protection from loss, and financial planning.
8-5.3.1Apply opportunity-cost analysis to potential situations that can threaten personal and family income and assets.
8-5.3.2Analyze the importance of developing plans for protecting current and future personal and family assets against financial loss.
Saving and Investing
8-6.1Explain how saving contributes to financial wellbeing.
8-6.1.1Describe the advantages and disadvantages of saving for short-term and medium-term financial goals.
8-6.1.2Explain simple interest, compound interest, and the benefits of a compound rate of return.
8-6.2Apply strategies for creating wealth and building assets.
8-6.2.1Compare reasons and risk/return trade-offs for saving and for investing.
8-6.2.2Define the time value of money and explain how small amounts of money invested regularly over time grow exponentially.
8-6.2.3Devise a periodic investment plan for accumulating the money for a major life goal.
8-6.3Compare investment alternatives.
8-6.3.1Compare the investment potential of options such as stocks, bonds, certificates of deposit, and savings accounts.
8-6.3.2Explain how inflation affects investment returns.
8-6.4Describe how to buy and sell investments.
8-6.4.1Describe various sources of investment information, including prospectuses, online resources, and financial publications.
8-6.4.2Research and track publicly traded stock and record daily market values and gains or losses between two specified dates.
8-6.5Analyze factors that affect the rate of return on investments.
8-6.5.1Explain how the time value of money and economic conditions affect the rate of return on investments.
8-6.5.2Identify taxes on investments and income tax-free earnings limit for an investor under the age of 18.
8-6.6Analyze how agencies that regulate financial markets protect investors.
8-6.6.1Describe benefits and limits of deposit insurance.
8-6.6.2Utilize the Indiana Securities Commission to investigate legitimacy of one or more investment opportunities.