Maryland
12th Grade
State Standards
Look below to see how Banzai's courses, worksheets, activities, and games align with the State Standards for Personal Financial Literacy Education for 12th Grade. Note, any one activity listed will satisfy the associated competency.
Maryland Personal Financial Literacy Standards
Make Informed, Financially Responsible Decisions
1.A: A. Evaluate the financial choices that are made based on available resources, needs, and wants for goods and services.
Standard
Defined by State Standards for Personal Financial Literacy Education
Banzai Solutions
*Any of the activities below will satisfy the competency
1.A.1: Analyze costs, benefits, and opportunity cost to determine the achievement of personal financial goals.
1.A.2: Apply the decision-making process to an unforeseen situation.
1.A.3: Explain the concept of financial obligations, such as a promissory note, cell-phone contract or college loan.
1.A.4: Evaluate how public-policy issues impact personal financial decisions, such as environmental and health-care concerns.
Under Development
1.A.5: Evaluate factors that affect personal financial decisions and actions.
1.B: B. Evaluate and apply financial knowledge, attitudes, and skills.
Standard
Defined by State Standards for Personal Financial Literacy Education
Banzai Solutions
*Any of the activities below will satisfy the competency
1.B.1: Refine and extend a conceptual understanding of new words regarding financial literacy.
1.B.2: Apply the decision-making process to achieve a personal financial goal.
1.B.3: Evaluate outcomes of financially responsible and irresponsible decisions.
Relate Careers, Education, and Income
Standard
Defined by State Standards for Personal Financial Literacy Education
Banzai Solutions
*Any of the activities below will satisfy the competency
2.D: D. Examine how income and debt affect choices and spending.
2.A: A. Acquire and apply self-knowledge in order to develop personal, learning and career goals.
Standard
Defined by State Standards for Personal Financial Literacy Education
Banzai Solutions
*Any of the activities below will satisfy the competency
2.A.1: Integrate a broad range of interests into one's personal learning and career goals, and assess the impact of abilities, strengths, skills, and talents on one's career development.
2.A.2: Evaluate how positive personal characteristics affect one's career development.
2.B: B. Evaluate postsecondary education options such as college, military, or apprenticeship needed to fulfill identified career goals.
Standard
Defined by State Standards for Personal Financial Literacy Education
Banzai Solutions
*Any of the activities below will satisfy the competency
2.B.1: Map out a variety of jobs that would comprise a 'career ladder.'
2.B.2: Analyze the benefits and trade-offs of a variety of careers including personal satisfaction.
2.B.3: Differentiate among sources of income.
2.B.4: Differentiate between 'gross' and 'net' income.
2.C: C. Determine the financial obligation required to achieve educational and career goals, including interests and repayment.
Standard
Defined by State Standards for Personal Financial Literacy Education
Banzai Solutions
*Any of the activities below will satisfy the competency
2.C.1: Verify the entry and median salaries of two or more positions within a career field.
2.C.2: Determine the salary needed and time allotment (5, 10, or 15 years) to repay educational loans.
Plan and Manage Money
3.A: A. Use money-management skills and strategies to set a financial goal and achieve it.
Standard
Defined by State Standards for Personal Financial Literacy Education
Banzai Solutions
*Any of the activities below will satisfy the competency
3.A.1: Determine the circumstances for using a spending plan.
3.A.2: Apply money-management strategies that enable individuals to progress toward stated financial goals.
3.A.3: Cite examples of trade-offs resulting from competing financial goals.
3.A.4: Prepare a spending plan based on personal values and goals.
3.B: B. Analyze the services of financial institutions.
Standard
Defined by State Standards for Personal Financial Literacy Education
Banzai Solutions
*Any of the activities below will satisfy the competency
3.B.1: Compare the financial products and services of various financial institutions, including interest and fees, and determine which product best aligns to achieving personal financial goals.
3.C: C. Evaluate the purposes and responsibilities related to taxation.
Standard
Defined by State Standards for Personal Financial Literacy Education
Banzai Solutions
*Any of the activities below will satisfy the competency
3.C.1: Determine the services that are provided through tax dollars.
3.C.2: Evaluate the consequences of not complying with personal tax obligations.
3.C.3: Evaluate various sources of tax planning and filing assistance.
3.D: D. Analyze contractual language.
Standard
Defined by State Standards for Personal Financial Literacy Education
Banzai Solutions
*Any of the activities below will satisfy the competency
3.D.1: Identify the rights and responsibilities of all parties entering into a contract, such as college loans, cell-phone contracts, car loans, and credit cards.
3.D.2: Discuss the possible consequences of not adhering to the terms of a contract.
Manage Credit and Debt
4.A: A. Develop skills to build a credit history and manage debt.
Standard
Defined by State Standards for Personal Financial Literacy Education
Banzai Solutions
*Any of the activities below will satisfy the competency
4.A.1: Differentiate among situations when debt is an advantage and when it is a disadvantage.
4.A.2: Discuss how debt can be used to establish credit.
4.A.3: Predict the consequences of having too much debt, and analyze the problems of not meeting credit obligations, such as poor credit score, late fees, loan acquisition, paying higher interest rates, and bankruptcy.
4.A.4: Determine when credit counseling is necessary.
4.A.5: Find reputable providers of credit-counseling services.
4.A.6: Identify strategies to acquire and maintain credit.
4.B: B. Evaluate credit products and services, and use numeracy skills to calculate the cost of borrowing.
Standard
Defined by State Standards for Personal Financial Literacy Education
Banzai Solutions
*Any of the activities below will satisfy the competency
4.B.1: Compare sources of consumer credit, and apply them to consumer decisions.
4.B.2: Calculate the difference between short- and long-term loans with regard to interest.
4.B.3: Identify and discuss examples of predatory lending practices, such as payday lenders.
Under Development
4.B.4: Compare and compute interest and compound interest and interpret an amortization table.
4.B.5: Compute and assess the accumulating effect of interest paid over time.
4.C: C. Analyze credit scores and reports.
Standard
Defined by State Standards for Personal Financial Literacy Education
Banzai Solutions
*Any of the activities below will satisfy the competency
4.C.1: Explain personal responsibility and the factors that affect creditworthiness, such as payment history and the ratio of total debt vs. total available credit.
4.C.2: Explain how a credit report is used and how frequently it should be obtained.
4.C.3: Explain how credit scores can be used to leverage better products, services, and employment opportunities, such as security clearance.
4.C.4: Apply strategies to prevent or manage credit problems.
4.C.5: Compare sources of credit reporting and evaluate credit-report scores.
Create and Build Wealth
5.A: A. Develop a savings plan.
Standard
Defined by State Standards for Personal Financial Literacy Education
Banzai Solutions
*Any of the activities below will satisfy the competency
5.A.1: Determine both short- and long-term savings goals.
5.A.2: List strategies to achieve both types of goals.
5.A.3: Create a spending plan that includes strategies to accomplish savings goals.
5.B: B. Evaluate strategies for creating wealth and building assets.
Standard
Defined by State Standards for Personal Financial Literacy Education
Banzai Solutions
*Any of the activities below will satisfy the competency
5.B.1: Predict the long-term effects of being banked versus unbanked.
Under Development
5.B.2: Describe federal deposit-insurance programs for banks and credit unions.
5.B.3: Analyze the effect of compounding.
5.B.4: Explain the concept of asset allocation based on short- and long-term goals.
5.B.5: Assess factors that influence financial planning (age, income, liabilities, assets, goals, family size, risk tolerance, etc.).
5.C: C. Critique appropriate financial services and products to specified goals.
Standard
Defined by State Standards for Personal Financial Literacy Education
Banzai Solutions
*Any of the activities below will satisfy the competency
5.C.1: Distinguish between saving and investing and income and wealth.
5.C.2: Describe the role of revenue-generating assets in building wealth.
5.C.3: Compare sources for investment products, such as banks and investment companies.
5.C.4: Select financial services and products to achieve personal financial goals.
5.C.5: Calculate returns on investments as it relates to time horizons.
Manage Risks and Preserve Wealth
6.A: A. Evaluate the strategies that protect income and wealth.
Standard
Defined by State Standards for Personal Financial Literacy Education
Banzai Solutions
*Any of the activities below will satisfy the competency
6.A.1: Explain circumstances that impact income and wealth.
6.A.2: Strategize methods to minimize financial loss.
6.A.3: Explain how legal documents protect individuals' personal assets, such as wills and trusts.
Under Development
6.B: B. Critique sources of consumer protection and assistance including public institutions and private organizations (professionals, publications, and internet).
Standard
Defined by State Standards for Personal Financial Literacy Education
Banzai Solutions
*Any of the activities below will satisfy the competency
6.B.1: Determine how to detect a fraudulent situation and the methods for protection against fraudulent activities.
6.B.2: Assess situations that put consumers in financial risk, such as sharing account information, identity theft, and co-signing on loans.
6.B.3: Explain the rights and responsibilities of buyers and sellers under consumer-protection laws such as the 'Credit Card Bill of Rights.'
Under Development
6.B.4: Apply consumer-protection laws to dispute a claim.
Under Development
6.C: C. Justify the need for and value of various types of insurance (such as health, property, life, disability, and liability) within the life cycle.
Standard
Defined by State Standards for Personal Financial Literacy Education
Banzai Solutions
*Any of the activities below will satisfy the competency
6.C.1: Investigate and apply different types of insurance coverage to selected situations.
6.C.2: Review and apply criteria to choose insurance coverage for selected situations.
6.C.3: Compare insurance rates, premiums, and deductibles to minimize costs in selected situations.