Personal financial literacy. The student applies
mathematical process standards to manage one's financial resources effectively
for lifetime financial security. The student is expected to:
(1) explain the connection between human capital/labor
and income;
(A) describe the relationship between the availability
or scarcity of resources and how that impacts cost;
(B) identify the costs and benefits of planned
and unplanned spending decisions;
(C) explain that credit is used when wants or
needs exceed the ability to pay and that it is the borrower's responsibility
to pay it back to the lender, usually with interest;
(D) list reasons to save and explain the benefit
of a savings plan, including for college; and