Maryland 5th Grade Standards Alignment: State Standards for Personal Financial Literacy Education

Maryland

5th 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 5th Grade. Note, any one activity listed will satisfy the associated competency.

Maryland Personal Financial Literacy Standards

Make Informed, Financially Responsible Decisions

1.1: Explain that people make financial choices based on available resources, needs, and wants.

Standard

Defined by State Standards for Personal Financial Literacy Education

Banzai Solutions

*Any of the activities below will satisfy the competency

1.1.1: Explain the consequences of making financial decisions.

Consumer Smarts (Game)Lemonade Tycoon (Game)

1.1.2: Identify opportunity cost of financial decisions made by individuals.

Lemonade Tycoon (Game)Spending Money (Article)

1.1.3: Apply the steps in the decision-making process to a financial situation.

Lemonade Tycoon (Game)

1.1.4: Describe the concept of financial obligations, such as borrowing and 'IOUs'.

Lemonade Tycoon (Game)Managing Credit (Article)

1.2: Apply financial knowledge, attitudes, and skills to a given scenario.

Standard

Defined by State Standards for Personal Financial Literacy Education

Banzai Solutions

*Any of the activities below will satisfy the competency

1.2.1: Develop and apply financial literacy vocabulary.

Lemonade Tycoon (Game)Elementary Personal Finance (Workbook)What is Financial Literacy? (Article)

1.2.2: Identify personal financial goals.

Lemonade Tycoon (Game)Saving Money (Article)

Relate Careers, Education, and Income

2.A: A. Acquire 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: Identify one's positive personal characteristics (e.g. honesty, dependability, responsibility, integrity, and loyalty).

Under Development

2.A.2: Describe how personal characteristics and interests affect career decisions.

Your Future Job (Article)

2.A.3: Explain the relationship between being a good student and being a good employee.

Your Future Job (Article)

2.B: B. Discuss how different careers require different levels of education.

Standard

Defined by State Standards for Personal Financial Literacy Education

Banzai Solutions

*Any of the activities below will satisfy the competency

2.B.1: Differentiate between a job and career.

Your Future Job (Article)

2.B.2: Describe the benefits and trade-offs of a variety of careers including personal satisfaction.

Your Future Job (Article)

2.B.3: Identify potential sources of income.

Earning Income (Article)

Plan and Manage Money

Standard

Defined by State Standards for Personal Financial Literacy Education

Banzai Solutions

*Any of the activities below will satisfy the competency

3.D: D. Understand the similarities among a promise, a promissory note, and a contract.

Under Development

3.A: A. Use money-management skills and strategies to set a financial goal.

Standard

Defined by State Standards for Personal Financial Literacy Education

Banzai Solutions

*Any of the activities below will satisfy the competency

3.A.1: Define and list the components of a spending plan.

Budgeting (Worksheet)Learning to Budget (Article)

3.A.2: Identify circumstances for when a spending plan would be appropriate.

Learning to Budget (Article)

3.A.3: Identify an age-appropriate financial goal and develop a spending plan indicating income and expenses.

Lemonade Tycoon (Game)Elementary Personal Finance (Workbook)

3.B: B. Identify products used at 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: Describe the services financial institutions provide, such as savings, checking, and money-market accounts.

Lemonade Tycoon (Game)Your First Account (Article)

3.C: C. Understand 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: Explain the meaning and purposes of taxes.

Lemonade Tycoon (Game)

Manage Credit and Debt

4.A: A. Identify why people enter into 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: List reasons why people borrow.

Managing Credit (Article)

4.A.2: Describe the concept of a loan.

Lemonade Tycoon (Game)Managing Credit (Article)

4.A.3: Explain the importance of paying back borrowed money.

Lemonade Tycoon (Game)Managing Credit (Article)

4.B: B. Describe the different types of payment methods, such as bartering, cash, check, credit card, and debit card.

Standard

Defined by State Standards for Personal Financial Literacy Education

Banzai Solutions

*Any of the activities below will satisfy the competency

4.B.1: Recognize that using checks, credit cards and debit cards is making a promise to pay at a later time.

Elementary Personal Finance (Workbook)Spending Money (Article)

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: Describe situations in which saving is necessary.

Lemonade Tycoon (Game)Saving Money (Article)

5.A.2: Determine a savings goal.

Lemonade Tycoon (Game)Saving Money (Article)

5.A.3: Cite examples of ways to achieve the savings goal.

Lemonade Tycoon (Game)Saving Money (Article)

5.B: B. Explain strategies for achieving financial goals.

Standard

Defined by State Standards for Personal Financial Literacy Education

Banzai Solutions

*Any of the activities below will satisfy the competency

5.B.1: Describe the concept of 'time value' of money.

Savings Calculator (Article)

5.B.2: Differentiate between 'working for money' versus 'money working for you'.

Savings Calculator (Article)Investing (Article)

Manage Risks and Preserve Wealth

6.B: B. Explain 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: Describe and identify types of fraud.

Digital Dragons (Game)Scams (Article)

6.B.2: Describe identity theft and how it occurs.

Digital Dragons (Game)Identity Theft (Article)

6.B.3: Describe reasons to keep certain types of information secure and private.

Digital Dragons (Game)Internet Safety Rules (Article)

6.C: C. Explain the need for and value of various types of insurance within the life cycle.

Standard