Ohio
4th-5th Grades
State Standards
Financial Literacy
Financial Responsibility and Decision Making
1People have limited resources and must prioritize their needs and wants. Saving and/or investing a percentage of income contributes to an individual's financial well-being. Professionals can help individuals determine financial goals.
1.1People have limited resources and must prioritize their needs and wants. Saving and/or investing a percentage of income contributes to an individual's financial well-being. Professionals can help individuals determine financial goals.
2Competencies (knowledge and skills), commitment (motivation and enthusiasm), competition (globalization and automation), training, work ethic, abilities and attitude are all factors impacting one's earning potential and employability.
2.1Competencies (knowledge and skills), commitment (motivation and enthusiasm), competition (globalization and automation), training, work ethic, abilities and attitude are all factors impacting one's earning potential and employability.
3People may receive money as gifts, allowance or income. Incomes can vary based on knowledge, skills and experiences.
3.1People may receive money as gifts, allowance or income. Incomes can vary based on knowledge, skills and experiences.
4Recognize that people pay taxes on the money they earn. Money collected from taxes is used to provide local, state and national government services.
4.1Recognize that people pay taxes on the money they earn. Money collected from taxes is used to provide local, state and national government services.
Planning and Money Management
5Financial responsibility includes the development of a spending and savings plan (personal budget).
5.1Financial responsibility includes the development of a spending and savings plan (personal budget).
Informed Consumer
6An informed consumer makes decisions on purchases that may include a decision-making strategy to determine if purchases are within their budget.
6.1An informed consumer makes decisions on purchases that may include a decision-making strategy to determine if purchases are within their budget.
Credit and Debt
7Examine the different ways that people pay for goods and services.
7.1Examine the different ways that people pay for goods and services.
8People may have to borrow money for large purchases. There are financial responsibilities with borrowing.
8.1People may have to borrow money for large purchases. There are financial responsibilities with borrowing.
9Saving today can help meet future goals, including education.
9.1Saving today can help meet future goals, including education.
Risk Management and Insurance
10Individuals must protect their identity, money and property.
10.1Individuals must protect their identity, money and property.