Colorado
5th Grade
State Standards
Personal Financial Literacy
8Apply economic reasoning skills to make informed personal financial decisions.
FL.5.5.1Examine how individuals use financial institutions to manage personal finances.
Students Can
aDifferentiate between saving and investing.
bEstablish the function of banking.
cDistinguish between different types of financial institutions such as banks and credit unions, and the services provided. For example: Checking accounts, savings accounts, investments, and loans.
dCreate a way to keep track of money spent and money saved.
Colorado Essential Skills
1Make connections between information gathered and personal experiences to apply and/or test solutions when choosing a financial institution or financial product (Adaptability and Flexibility).
2Express one's own emotions, thoughts, and values and identify how they influence behavior when making decisions regarding choosing a financial institution or financial product (Self-Awareness).
3Ask questions to develop further personal understanding when choosing financial institutions and financial products (Self-Advocacy and Initiative).
Inquiry Questions
1What risks and benefits are associated with spending versus saving and investing?
2What factors influence choices to save or invest?
3How can a checking account help to decide how to spend and save?
4Why do people use financial institutions rather than self-banking?
5How do people choose a financial institution?
6What are the risks and benefits of different financial institutions?
Nature and Skills of Personal Financial Literacy
1Financially capable individuals research, analyze, and make choices regarding their needs when using financial institutions.
2Financially capable individuals identify positive and negative incentives that influence the decisions people make.
3Financially capable individuals use technology to track and graph the interest accrued on "virtual" investments, checking and savings accounts, investments, and loans.
Disciplinary, Information, and Media Literacy
1Write informative/explanatory texts to examine a topic and convey ideas and information clearly.
2Conduct short research projects that use several sources to build knowledge through investigation of different aspects of a topic.
3Understand how rules for respecting others' belongings apply to digital content and information privacy.