12-1a: Research potential income and employee benefit packages that are likely to be offered to new employees by various companies, government agencies, or not-for-profit organizations.

12-1b: Explain why people should evaluate employee benefits in addition to wages and salaries when choosing between job and career opportunities.

12-1c: Differentiate between contributory and non-contributory employee benefits.

12-1d: Examine the benefits of participating in employer-sponsored retirement savings plans and healthcare savings plans.

12-2a: Give examples of intangible job benefits.

12-2b: Describe how intangible benefits can affect a worker's career choices and income.

12-2c: Evaluate the tradeoffs between income and non-income factors when making career or job choices.

12-3a: Evaluate the costs and benefits of investing in additional education or training.

12-3b: Explain how differences in people's life circumstances can affect their opportunity and willingness to further their education or training.

12-3c: Compare earnings and unemployment rates by level of education and training.

12-4a: Identify different types of jobs and careers where wages and salaries depend on a worker's productivity and skills.

12-4b: Explain why wages or salaries vary among employees in different types of jobs and among workers in the same jobs.

12-4c: Discuss possible explanations for the persistence of race and gender pay gaps.

12-5a: Discuss how economic and labor market conditions can affect income, career opportunities, and employment status.

12-5b: Evaluate the impact of technological advances on employment and income.

12-5c: Discuss the effects of an economic downturn on employment opportunities for people with different characteristics, such as education, experience, employment type, ethnicity, and gender.

12-6a: Calculate the amount of taxes a person is likely to pay when given information or data about the person's sources of income and amount of spending.

12-6b: Identify which level(s) of government typically receive(s) the tax revenue for income taxes, payroll taxes, property taxes, and sales taxes.

12-6c: Describe the benefits they receive, or may receive in the future, from government-collected tax revenue.

12-7a: Investigate the federal and state tax rates applicable to different sources of income.

12-7b: Compare sales tax rates paid on different types of goods in their state and for online purchases.

12-7c: Differentiate between gross, net, and taxable income.

12-7d: Explain why some income is reported on an IRS Form W-2 and some is reported on an IRS Form 1099, and how that could affect their taxes.

12-8a: Explain the difference between earned and unearned income.

12-8b: Compare the tax rates assessed on earned income, interest income, and capital gains income.

12-9a: Complete IRS Form W-4.

12-9b: Explain the difference between a tax credit and a tax deduction.

12-9c: Identify several examples of tax credits, determining whether they are refundable or non-refundable, and the groups of people who benefit most from each type.

12-10a: Identify different potential sources of retirement income.

12-10b: Describe the importance of having multiple sources of income in retirement, such as Social Security, employer-sponsored retirement plans, and personal investments.

12-10c: Explain the importance of participating in employer-sponsored retirement plans, when available, and contributing enough to qualify for the maximum employer match.

12-10d: Report the average benefit paid to a retiree living on Social Security today.

12-11a: Evaluate the benefits and costs of gig employment, such as driving for a cab or delivery service.

12-11b: Discuss the pros and cons of small business ownership as their primary source of income.

12-1a: Identify their short-term and long-term financial goals.

12-1b: Develop a budget to allocate current income to necessary and desired spending, including estimates for both fixed and variable expenses.

12-1c: Explain methods for adjusting a budget for unexpected expenses or emergencies.

12-1d: Evaluate the advantages of using budgeting tools, such as spreadsheets or apps.

12-2a: Select a product or service and describe the various factors that may influence a consumer's purchase decision.

12-2b: Describe a process for making an informed consumer decision.

12-2c: List the positive and negative effects of a recent consumer decision on the environment, society, and the economy.

12-3a: Explain the factors to evaluate when buying a durable good.

12-3b: Analyze the cost and features of three competing products or services.

12-3c: Compare product choices based on their impacts on the environment or society.

12-4a: List different ways retailers advertise the prices of their products.

12-4b: Describe how inflation affects purchase decisions and the price of goods and services.

12-4c: Summarize how negotiation affects consumer decisions and the price of goods and services.

12-5a: Explain how pre-purchase research encourages consumers to avoid impulse buying.

12-5b: Brainstorm consumer research strategies and resources to use when making purchase decisions.

12-5c: Analyze social media marketing and advertising techniques designed to encourage spending.

12-6a: Identify financial and personal reasons that younger adults often choose to rent a home instead of buying.

12-6b: Compare the short-term and long-term costs and benefits of renting versus buying a home in their city of residence.

12-6c: Define key rental contract terminology, including lease term, security deposit, grace period, and eviction.

12-7a: Discuss the motivations for and benefits of donating money, items, or time.

12-7b: Develop a list of charitable organizations and provide a possible reason that a donor might want to give money to each organization.

12-7c: Identify specific steps one should take when researching charitable and other not-for-profit organizations.

12-8a: Describe the roles and responsibilities of government agencies that help protect consumers from fraud.

12-8b: Identify state and federal consumer protection laws based on the issues they address and the safeguards they provide.

12-8c: Investigate common types of consumer fraud and unfair or deceptive business practices, including online scams, phone solicitations, and redlining.

12-8d: Make recommendations for sources of help for consumers who have experienced fraud.

12-9a: Explain how having a system for financial record-keeping can make it easier to make financial decisions.

12-9b: Develop a system for keeping track of spending, saving, and investing.

12-9c: Research financial technology options for financial record-keeping.

12-1a: Compare the features of regular savings accounts, money market accounts, and CDs.

12-1b: Explain why CDs typically pay higher interest rates than regular savings accounts or interest-bearing checking accounts.

12-2a: Select a preferred location for a savings account based on comparison of interest rates and fees at different types of financial institutions.

12-2b: Explain why an increase in the number of people who want to borrow money might result in banks paying higher rates on deposits.

12-2c: Discuss types of market conditions that could result in financial institutions paying lower rates on savings accounts.

12-3a: Research mobile payment account alternatives.

12-3b: Compare and contrast the features of mobile payment accounts, cryptocurrency accounts, and checking/savings accounts.

12-3c: Explain why storing money in a mobile payment account can reduce the ability to grow savings.

12-4a: Explain why savers typically earn a higher nominal rate of interest when inflation is high.

12-4b: Illustrate how inflation can reduce the purchasing power of savings over time if the nominal interest rate is lower than the inflation rate.

12-4c: Investigate how federal I bonds provide inflation protection for savers.

12-5a: Investigate the areas of financial institution operations that are subject to state and/or federal regulation and supervision.

12-5b: Identify the state agency responsible for regulating financial institutions where they live.

12-5c: Explain the importance of solvency regulation for financial institutions.

12-6a: Explain how traditional IRAs (individual retirement accounts), Roth IRAs, and education savings accounts provide incentives for people to save.

12-6b: Compare the tax advantages of traditional and Roth IRAs.

12-6c: Compare the tax advantages of different types of education savings accounts.

12-7a: Explain how an employer match of employee contributions to its retirement plan provides an incentive for employees to save.

12-7b: Compare the impact of employee "opt in" versus "opt out" of employer retirement plans and explain why it makes a difference.

12-7c: Describe the pros and cons of saving through an employer retirement plan as compared to saving outside of an employer plan.

12-7d: Explain the benefits of saving money in a health savings account for individuals with high-deductible health plans.

12-8a: Assess the value of sharing financial goals and personal financial information with a partner before combining finances.

12-8b: Discuss how personal financial decisions can affect other people.

12-9a: Explain how external influences (e.g. peers, family, or social media) can impact personal savings decisions.

12-9b: Identify strategies to manage psychological and emotional obstacles to saving.

12-9c: Discuss strategies for avoiding personal triggers that result in deviating from a savings plan.

12-9d: Explain how the saving strategy "pay yourself first" can help people achieve their saving goals.

12-1a: Give examples of factors that can influence a person's risk tolerance.

12-1b: Discuss how a person's risk tolerance influences their investment decisions.

12-1c: Assess their personal risk tolerance using an online tool or worksheet.

12-2a: Describe the different types of annual cash flows that can be received by investors.

12-2b: Compare nominal annual rates of return over time on different types of investments, including cash flows and price changes.

12-2c: Explain why assets that do not produce income or are exposed to large price fluctuation (such as collectibles, precious metals, and cryptocurrencies) are described as speculative investments.

12-3a: Discuss the advantages and disadvantages of investing in riskier assets.

12-3b: Investigate the long-run average rates of returns on small-company stocks, large-company stocks, corporate bonds, and Treasury bonds.

12-3c: Explain why the expected rate of return on a value stock or mutual fund is likely to be lower than that of a growth stock or mutual fund.

12-3d: Explain why bonds with longer maturities generally earn a higher return than shorter-term bonds.

12-4a: Describe the impact of inflation on prices over time.

12-4b: Explain the relationship between nominal and real returns.

12-4c: Find the current rate paid on CDs at a bank and calculate the expected real rate after inflation.

12-5a: Describe factors that influence the prices of financial assets.

12-5b: Predict what could happen to the price of a stock if new information is reported about the company or its products.

12-5c: Discuss how economic downturns that result in high unemployment can affect the prices of financial assets.

12-5d: Explain why the market price of some assets, such as bonds and real estate, increase when interest rates decrease.

12-6a: Recommend portfolio allocation between major asset classes for a short-term goal versus a long-term goal.

12-6b: Discuss the pros and cons of investing in a diversified mutual fund versus investing in a small number of individual stocks.

12-6c: Suggest an appropriate asset allocation for a very risk averse person versus a very risk tolerant person.

12-6d: Explain how target date retirement funds reallocate investments over time to meet their investment objective.

12-7a: Discuss how the expenses associated with buying and selling investments can impact rates of return and investment outcomes.

12-7b: Compare the expense ratios for several mutual funds.

12-7c: Explain why an actively managed mutual fund usually has a higher expense ratio than an index fund.

12-8a: Compare tax rates paid on interest income versus short-term and long-term capital gains.

12-8b: Describe the advantages of investing through a tax-deferred account such as an IRA or 401(k) versus a taxable account.

12-8c: Investigate the contribution limits and tax advantages of a traditional IRA versus a Roth IRA.

12-9a: Identify several behavioral biases that can result in poor investment decisions (e.g. loss aversion, investing in employer stock, home bias, mental accounting).

12-9b: Brainstorm methods for avoiding negative consequences from behavioral biases.

12-10a: Explore common financial technologies used for investing, including automated trading platforms.

12-10b: Explain how automating investment activities can help people avoid making emotional investment decisions.

12-11a: Discuss how the development of financial technology has made it easier for people of all income and education levels to participate in financial markets.

12-11b: Choose a discount broker and research the minimum starting account balance, minimum monthly investment, and trading costs.

12-11c: Identify the advantages and disadvantages of robo-advising and other investment-related financial technologies.

12-12a: Explain the role of federal regulators in financial markets.

12-12b: Discuss why insider trading is illegal and harmful to investment markets.

12-12c: Explain the importance of having access to full and accurate information about potential investments.

12-13a: Explain why investors often compare portfolio performance to a benchmark such as the S&P 500 Index.

12-13b: Research the composition of the most popular benchmark indices and compare their recent performance.

12-13c: Discuss the advantages of investing in an exchange-traded fund (ETF) that tracks a market index rather than investing in actively managed mutual funds or individual stocks and bonds.

12-14a: Discuss reasons that a person might want to hire a financial professional to manage their investments or provide investment advice.

12-14b: Explain the importance of licensing, certifications, education, and experience as criteria for selecting a financial professional for investment management or advice.

12-14c: Investigate where and how to find qualified financial professionals.

12-1a: Describe how credit card grace periods, methods of interest calculation, and fees affect borrowing costs.

12-1b: Compare the cost of borrowing $1,000 using consumer credit options that differ in rates and fees.

12-2a: Give examples of unsecured and secured loans.

12-2b: Explain why lenders charge lower interest rates on secured loans than on unsecured loans.

12-2c: Compare what happens if a borrower fails to make required payments on a secured loan, such as an auto loan or a home mortgage, versus failing to pay a credit card account.

12-3a: Identify the type of collateral required for a mortgage loan.

12-3b: Differentiate between adjustable-rate and fixed-rate mortgages.

12-3c: Compare monthly mortgage payments for loans that differ in repayment period, amount borrowed, and interest rate.

12-4a: Describe the different sources of funding for post-secondary education.

12-4b: Explain the role the FAFSA plays in applying for college financial aid.

12-4c: Identify scholarships and grants for which they are eligible.

12-4d: Estimate the reduction in total cost of education and potential student loan debt if they complete their first two years of college at a community college before transferring to a four-year institution.

12-5a: Compare federal and private student loans based on interest rates, repayment rules, and other characteristics.

12-5b: Describe the process of applying for a student loan.

12-5c: Estimate total interest on various student loans based on interest rates and repayment plans.

12-5d: Predict the potential consequences of deferred payment of student loans.

12-6a: Identify examples of loans that may require down payments.

12-6b: Given the price of a home, estimate the amount of down payment required.

12-6c: For a specified loan amount, compare the monthly loan payment with a 10% down payment versus a 20% down payment.

12-6d: Explain how a down payment makes a borrower more attractive to a lender and motivates loan repayment by the borrower.

12-7a: Identify the primary organizations that maintain and provide consumer credit reports.

12-7b: Assess the value to a potential lender of the information contained in a credit report.

12-7c: Explain how a person can get a free copy of their credit report and why this is advisable.

12-7d: Outline the process of disputing inaccurate credit report information.

12-8a: Identify the main factors that are included in credit score calculations.

12-8b: Explain how a borrower's credit score can impact their cost of credit and their ability to get credit.

12-8c: Recommend ways that a person can increase their credit score.

12-9a: Explain how landlords, potential employers, and insurance companies use credit reports and credit scores in decision-making.

12-9b: Provide examples of benefits associated with having a good credit score.

12-9c: Compare the effect of soft versus hard credit inquiries on a person's credit score.

12-10a: Describe how failing to repay a loan can negatively impact a person's finances and life.

12-10b: Identify sources of assistance with debt management.

12-10c: Create a plan for a person who is having difficulty repaying debt.

12-10d: Compare the costs and benefits associated with for-profit versus non-profit credit counseling services.

12-11a: Describe the purpose of bankruptcy laws.

12-11b: Investigate the effects of bankruptcy on assets, employment, and future access to credit.

12-11c: Compare the results of liquidation versus reorganization bankruptcy.

12-12a: Explain the rationale behind laws that require people to have access to full information about credit cards and loans before they borrow money.

12-12b: Discuss the importance of protecting borrowers from discrimination and abusive marketing or collection practices.

12-12c: Research where to find credible sources of up-to-date information on credit rights and responsibilities.

12-13a: Identify products and practices that are classified as alternative financial services.

12-13b: Discuss the costs and benefits of using alternative financial services relative to traditional banking.

12-13c: Explain how using payday loans can cause a cycle of debt.

12-1a: Discuss whether a premium paid to insure against a crash that never happens is wasted.

12-1b: Analyze the conditions under which it is appropriate for young adults to have life, health, and disability insurance.

12-2a: Identify individual characteristics that influence insurance purchase decisions.

12-2b: Recommend types of insurance needed by people with different characteristics.

12-3a: Explain why homeowners' insurance is required by a lender when a homeowner takes out a mortgage.

12-3b: Discuss why most states mandate auto liability coverage.

12-3c: Research the minimum auto liability insurance required in the state they live in and whether it is sufficient to cover typical auto accident financial losses.

12-4a: Research factors that result in lower auto insurance premiums.

12-4b: Explain why taking a safe driving course can lower a driver's auto insurance premium.

12-4c: Discuss the pros and cons of buying an auto insurance policy with a higher deductible.

12-5a: Discuss the advantages of obtaining health insurance coverage through an employer plan versus buying private insurance or being uninsured.

12-5b: Compare the cost of health insurance to the potential financial consequences of not having health insurance.

12-5c: Estimate the effect on different health insurance deductibles and coinsurance rates on out-of-pocket medical costs.

12-6a: Compare disability coverage offered by individual policies, employee benefit plans, Social Security, workers' compensation, and temporary disability programs (in some states).

12-6b: Assess the extent of financial risk and need for disability insurance using hypothetical disability scenarios.

12-7a: Explain the primary types of losses covered by auto, homeowner's, and renter's insurance policies.

12-7b: Describe situations where someone may be liable for injuries or damages to another person or their property.

12-7c: Identify factors that influence the cost of renter's insurance and homeowners' insurance.

12-8a: Explain how a person's death can result in financial losses to others.

12-8b: Discuss the benefits and costs of purchasing life insurance on the primary earners in a household.

12-9a: Discuss how state unemployment programs can help reduce economic hardship caused by job losses during a recession or pandemic.

12-9b: Compare the Medicare and Medicaid programs based on who they cover and how they are funded.

12-10a: Provide examples of insurance fraud.

12-10b: Investigate the legal consequence for individuals who are convicted of insurance fraud.

12-11a: Provide examples of how online behavior, e-mail and text-message scams, telemarketers, and other methods make consumers vulnerable to privacy infringement, identity theft, and fraud.

12-11b: Describe conditions under which individuals should and should not disclose their Social Security numbers, account numbers, or other sensitive information.

12-11c: Recommend strategies to reduce the risk of identity theft and financial fraud.

12-11d: Explain the steps an identity theft victim should take to limit losses and restore personal security.

12-12a: Evaluate the costs and benefits of buying an extended warranty on a specific item (e.g. cellphone, laptop, or vehicle) considering the likelihood of product failure, cost of replacing the item, and price of the warranty.

12-12b: Explain how extended warranties or service contracts are similar to and different from insurance.