Maryland
8th 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 8th Grade. Note, any one activity listed will satisfy the associated competency.
Maryland Personal Financial Literacy Standards
Make Informed, Financially Responsible Decisions
1.A: A. Analyze the financial choices that people make 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: Predict the consequences of making financial decisions.
1.A.2: Describe opportunity cost of financial decisions made by individuals.
1.A.3: Predict the financial outcomes in an applied decision-making process.
1.A.4: Compare factors that affect personal financial decisions and actions.
1.B: B. Integrate and 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.B.1: Develop and apply financial literacy vocabulary.
1.B.2: Describe methods to achieve personal financial goals.
1.B.3: Differentiate between responsible and irresponsible financial 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.C: C. Compare the costs (time, money, and effort) in pursuing a variety of identified career goals.
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: Demonstrate behavior and decisions that reflect one's interests, likes and dislikes.
2.A.2: Identify one's abilities, strengths, skills and talents as seen by self and others and explain the significance to one's education and career plans.
2.B: B. Identify career goals and map the educational paths needed to achieve them.
Standard
Defined by State Standards for Personal Financial Literacy Education
Banzai Solutions
*Any of the activities below will satisfy the competency
2.B.1: Compare a variety of jobs within a career field.
2.B.2: Describe the benefits and trade-offs of a variety of careers including personal satisfaction.
2.B.3: Describe different sources of income.
Plan and Manage Money
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: Determine the circumstances for using a spending plan.
3.A.2: Formulate and compare money-management choices that enable individuals to progress toward stated financial goals.
3.A.3: Prepare a spending plan based on personal values and goals.
3.B: B. Describe 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: Describe the various financial products and services provided by financial institutions and determine which product best aligns to achieving a personal financial goal.
3.C: C. Explain 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: Discuss the services that are provided through tax dollars.
3.C.2: List the consequences of not complying with personal tax obligations.
3.D: D. Explain that contracts are binding agreements.
Standard
Defined by State Standards for Personal Financial Literacy Education
Banzai Solutions
*Any of the activities below will satisfy the competency
3.D.1: Explain why contracts are used.
Under Development
3.D.2: Identify factors to consider when entering into a contract, such as interest rates, credit score, reputation, and/or references of involved parties.
Manage Credit and Debt
4.A: A. Explain the importance of managing 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: Provide examples of good and bad debt.
4.A.2: Discuss how debt can be used to establish credit.
4.A.3: Describe the consequences of having too much debt and not meeting credit obligations, such as late fees, loan acquisition, paying higher interest rates, and bankruptcy.
4.A.4: Explain strategies used to manage credit and debt.
4.B: B. Compare 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: Explain credit terminology.
4.B.2: List sources of consumer credit.
4.B.3: Explain the difference between short- and long-term loans.
4.B.4: Compare and compute application of interest and compound interest.
4.B.5: Compute the amount of interest paid over time when using credit.
4.C: C. Compare 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: Describe a credit report; explain what a credit score is and the factors affecting a credit score.
4.C.2: Identify ways to prevent credit problems.
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 short-term savings goals.
5.A.2: List strategies to achieve goals.
5.A.3: Create a spending plan that includes strategies to accomplish savings goals.
5.B: B. Apply 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: Distinguish between financial practices of the banked and unbanked.
5.B.2: Explain how financial institutions protect consumers' money.
5.B.3: Apply the 'Rule of 72' to a financial decision.
5.B.4: Apply the principle of 'Pay Yourself First' to realistic scenarios.
5.C: C. Align 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.
5.C.2: Differentiate between income and investment growth.
5.C.3: Identify sources of investment products, such as banks, investment companies, and financial planners.
5.C.4: Determine an investment strategy's time horizon based on a specified goal.
5.C.5: Calculate returns on investments as it relates to time horizons.
Under Development
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. Differentiate 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: Examine consumer fraud and methods for protection against fraudulent activities.
6.B.2: Identify situations that put consumers in financial risk, such as sharing account information, identity theft, and co-signing on loans.
6.B.3: Distinguish between the rights and responsibilities of buyers and sellers under consumer-protection laws.
Under Development
6.B.4: List actions to take to dispute a claim.
Under Development
6.C: C. Examine 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: Describe the need for and value of different types of insurance.
6.C.2: Identify factors to consider when determining the amount of protection needed.
6.C.3: Identify strategies to lower insurance costs.