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Instructional Focus Document
Grade 6 Mathematics
TITLE : Unit 11: Personal Financial Literacy SUGGESTED DURATION : 5 days

Unit Overview

Introduction
This unit bundles student expectations that address financial literacy, including checking accounts, credit cards, and debit cards, credit reports and credit history, methods to pay for college, and salaries for various occupations. According to the Texas Education Agency, mathematical process standards including application, a problem-solving model, tools and techniques, communication, representations, relationships, and justifications should be integrated (when applicable) with content knowledge and skills so that students are prepared to use mathematics in everyday life, society, and the workplace. The introduction to the grade level standards state, “While the use of all types of technology is important, the emphasis on algebra readiness skills necessitates the implementation of graphing technology.”

Prior to this Unit
In Grade 2, students identified examples of borrowing and distinguished between responsible and irresponsible borrowing. In Grade 5, students developed a system for keeping and using financial records and explained the difference between gross income and net income. Students also identified the advantages and disadvantages of different methods of payment including checks, credit card, debit card, and electronic payments.

During this Unit
Students compare the features and costs of checking accounts and debit cards offered by different local financial institutions. Students examine fees associated with both checking accounts and debit cards, and they balance a check register associated with a checking account. Students distinguish between credit cards and debit cards. The information included within a credit report is examined and students are expected to explain why it is important to have a positive credit history. Students describe the value of credit reports to borrowers and to lenders. The salaries of various career choices are explored and the correlation between the salary and required levels of education is analyzed. Students consider this relationship as they calculate the effects of different annual salaries on lifetime income. Various methods to pay for college are examined, including savings, grants, scholarships, student loans, and work-study.

After this Unit
In Grade 8, students will solve real-world problems comparing how interest rate and loan length affect the cost of credit. Students will use an online calculator to calculate the total cost of repaying a loan, including credit cards and easy access loans involving various rates of interest over different periods. Students will identify and explain the advantages and disadvantages of the different payment methods examined. Students will estimate the cost of a two-year and four-year college education, including family contribution, and devise a periodic savings plan for accumulating the money needed to contribute to the total cost of attendance for at least the first year of college.

Additional Notes
In Grade 6, comparing the features and costs of a checking account and a debit card offered by different financial institutions, distinguishing between debit cards and credit cards, and balancing a check register are identified as Supporting Standards 6.14A, 6.14B, 6.14C. Describing the information in a credit report and describing the value of a credit reports to borrowers and to lenders are identified as Supporting Standards 6.14E and 6.14F. Explaining various methods to pay for college and comparing annual salaries of several occupations requiring different levels of education are identified as Supporting Standards 6.14G and 6.14H. All of these standards are subsumed under the Grade 6 STAAR Reporting Category 4: Data Analysis and Personal Financial Literacy. Explaining why it is important to establish a positive credit history is identified as 6.14D. This standard is neither Supporting nor Readiness, but is foundational to the conceptual understanding of financial literacy. All of the standards within this unit are part of the Grade 6 Texas Response to Curriculum Focal Points (TxRCFP): Financial Literacy. This unit is supporting the development of the Texas College and Career Readiness Standards (TxCCRS): I. Numeric Reasoning, IX. Communication and Representation, and X. Connections.

Research
According to the National Council on Economic Education (2010), “students exposed to the economic way of thinking are more self-confident and more competent in making financial decisions, building their careers, and acting as informed citizens. By gaining understanding of the "real" world, we increase our prospects for better lives” (p. vii). Conjointly the Organization for Economic Co-operation and Development (2006), made recommendations that the financial education should, “start at school, for people to be educated as early as possible” (p. 3). Furthermore, “Financial education [programs] should focus particularly on important life-planning aspects, such as basic savings, debt, insurance or pensions” (p. 3).

 

National Council on Economic Education. (2010). Financial Fitness for Life, Grade 6-8. New York, NY: Council for Economic Education.
Organization for Economic Co-operation and Development (2006). Policy brief: Recommendation on principles and good practices for financial education and awareness. Retrieved from http://www.oecd.org/finance/financial-education/37087833.pdf
Texas Education Agency & Texas Higher Education Coordinating Board. (2009). Texas college and career readiness standards. Retrieved from http://www.thecb.state.tx.us/index.cfm?objectid=E21AB9B0-2633-11E8-BC500050560100A9
Texas Education Agency. (2013). Texas response to curriculum focal points for kindergarten through grade 8 mathematics. Retrieved from https://www.texasgateway.org/resource/txrcfp-texas-response-curriculum-focal-points-k-8-mathematics-revised-2013


  • Financial and economic knowledge leads to informed and rational decisions allowing for effective management of financial resources when planning for a lifetime of financial security.
    • Why is financial stability important in everyday life?
    • What economic and financial knowledge is critical for planning for a lifetime of financial security?
    • How can mapping one’s financial future lead to significant short and long-term benefits?
    • How can current financial and economic factors in everyday life impact daily decisions and future opportunities?
Unit Understandings
and Questions
Overarching Concepts
and Unit Concepts
Performance Assessment(s)
  • Understanding checking accounts, credit cards, debit cards, and credit history helps one make informed financial management decisions, which promotes a more secured financial future.
    • What are different types of fees associated with a …
      • checking account?
      • debit account?
    • How are checking accounts and debit cards …
      • similar?
      • different?
    • What are features of a …
      • credit card?
      • debit card?
    • How are debit cards and credit cards …
      • similar?
      • different?
    • What are critical factors that influence when a debit card or a credit card should be used?
    • Why is it important to compare the features and costs of checking accounts, debit cards, and credit cards?
    • What is the difference between a deposit, a withdrawal, and a transfer?
    • What is the process to balance a check register?
    • What happens when expenses exceed the amount within the checking account?
    • Why is it important to establish a positive credit history?
    • What attributes determine a positive credit history?
    • What information is included in a credit report?
    • What is a credit score?
    • How long is information kept on a credit report?
    • What is the value of a credit report for borrowers or lenders?
    • What type of information is valuable to a borrower or lender on a credit report?
    • How does understanding checking accounts, credit cards, debit cards, and credit history help promote a more secured financial future?
  • Personal Financial Literacy
    • Checking Account
      • Check register
      • Deposits
      • Withdrawals
      • Transfers
    • Credit Cards
    • Debit Cards
    • Credit History and Reports
  • Associated Mathematical Processes
    • Application
    • Problem Solving Model
    • Tools and Techniques
    • Communication
    • Representations
    • Relationships
    • Justification
Assessment information provided within the TEKS Resource System are examples that may, or may not, be used by your child’s teacher. In accordance with section 26.006 (2) of the Texas Education Code, "A parent is entitled to review each test administered to the parent’s child after the test is administered." For more information regarding assessments administered to your child, please visit with your child’s teacher.

  • Financial and economic knowledge leads to informed and rational decisions allowing for effective management of financial resources when planning for a lifetime of financial security.
    • Why is financial stability important in everyday life?
    • What economic and financial knowledge is critical for planning for a lifetime of financial security?
    • How can mapping one’s financial future lead to significant short and long-term benefits?
    • How can current financial and economic factors in everyday life impact daily decisions and future opportunities?
Unit Understandings
and Questions
Overarching Concepts
and Unit Concepts
Performance Assessment(s)
  • Understanding college savings plans and career choices help one make informed financial management decisions, which promotes a more secured financial future.
    • What is the benefit of saving for college?
    • What is a grant, and how can grants be used to pay for college?
    • What is a scholarship, and how can scholarships be used to pay for college?
    • What are student loans, and how can student loans be used to pay for college?
    • What are the different types of student loans available?
    • What is work-study, and how can work be used to pay for college?
    • What are the benefits of grants and scholarships?
    • What are the advantages and disadvantages of student loans?
    • What types of careers require post-secondary education or vocational training?
    • What generalization can be made about the salaries of occupations that require post-secondary education or vocational training as compared to the salaries of those occupations which do not require post-secondary education or vocational training?
    • What is the process to determine the lifetime income of an occupation?
    • Why is it important to compare the lifetime income of several occupations?
    • What generalizations can be made about the amount of money earned in a lifetime and an individual’s annual salary?
    • How does understanding college savings and career choices help promote a more secured financial future?
  • Personal Financial Literacy
    • Annual Salaries
    • College
      • Cost
      • Payment options
      • Savings plans
      • Grants
      • Scholarships
      • Student loans
      • Work-study
    • Income
  • Associated Mathematical Processes
    • Application
    • Problem Solving Model
    • Tools and Techniques
    • Communication
    • Representations
    • Relationships
    • Justification
Assessment information provided within the TEKS Resource System are examples that may, or may not, be used by your child’s teacher. In accordance with section 26.006 (2) of the Texas Education Code, "A parent is entitled to review each test administered to the parent’s child after the test is administered." For more information regarding assessments administered to your child, please visit with your child’s teacher.

MISCONCEPTIONS / UNDERDEVELOPED CONCEPTS

Misconceptions:

  • Some students may think that a debit card is like a credit card, instead of knowing that a debit card is linked directly to a bank account and the money is immediately subtracted from the account.
  • Students may not distinguish between monthly banking fees and fees per withdrawal.
  • Students may confuse withdrawals and deposits when balancing a check register.
  • Students may think that all forms of college payments do not have to be paid back (e.g., if grants and scholarships do not have to be paid back, then student loans do not have to be paid back).

Unit Vocabulary

  • 529 account – educational savings account managed by the state, and is usually tax-deferred
  • Annuity – deductible and non-deductible contributions may be made, taxes may be waived if used for higher education
  • Associate’s degree – a degree usually earned at a community college that is for a specific occupation and can be used towards pursuing a bachelor’s degree
  • Available balance – the amount available in an account for a person, business, or organization to spend
  • Bachelor’s degree – a degree usually earned from a four-year college or university by completing undergraduate coursework in a specific field of study
  • Balance – to reconcile your budget or account statement with your check register to make sure the records match and are accurate
  • Check register – a small table to keep track of deposits, withdrawals, transfers, and current available balance
  • Deposit – money put into an account
  • Direct subsidized federal student loan – a loan issued by the U.S. Government in an amount determined by the college available to undergraduate students who demonstrate a financial need where the U.S. Government pays the interest on the loans while the student is enrolled at least half-time, up to six months after leaving school, or during a requested deferment period
  • Direct unsubsidized federal student loan – a loan issued by the U.S. Government in an amount determined by the college available to undergraduate or graduate students where the interest is paid by the borrower from the time the loan is initiated, even during requested deferment or forbearance periods
  • Doctoral degree – the most advanced postgraduate degree that is obtained after receiving a bachelor’s and/or master’s degree and is extremely specialized in a specific field or occupation
  • Grant – money that is awarded to students usually based on need with no obligation to repay this money
  • Master’s degree – an advanced or postgraduate degree that is obtained after receiving a bachelor’s degree and is highly specialized in a specific field or occupation
  • Post-secondary education – education that occurs beyond high school, usually at a college or university
  • Private student loan – a loan issued by a lender other than the U.S. Government
  • Salary – a fixed annual sum that may or may not be dependent on the number of hours worked and usually paid in regular increments, such as monthly
  • Savings account – a bank or credit union account in which the money deposited earns interest so there will be more money in the future than originally deposited
  • Scholarship – money that is awarded to students based on educational achievement with no obligation to repay this money
  • Student loan – borrowed money that must be paid back with interest
  • Taxable investment account – many companies will create an investment portfolio with the specific purpose of saving and building a strong portfolio to be used to pay for college
  • Traditional savings account – money put into a savings account much like paying a monthly expense such as a light bill or phone bill
  • Transfer – money moved from one account to another account
  • U.S. savings bond – money saved for a specific length of time and guaranteed by the federal government
  • Vocational training – training that occurs beyond high school and specializes in a specific field of work (e.g., medical transcriber, mechanic, electrician, welder, etc.) and may require state certification and/or a license
  • Withdrawal – money taken out of an account
  • Work study – programs that allow students to work in exchange for a portion of their tuition

Related Vocabulary:

  • ATM (automated teller machine)
  • Available balance
  • Bankruptcy
  • Borrower
  • Cashback
  • Check
  • Checking account
  • Credit card
  • Credit history
  • Credit rating
  • Credit report
  • Credit score
  • Debit card
  • Earn
  • Fee
  • Finance
  • Financial institution
  • Fixed interest
  • Income
  • Insufficient funds
  • Interest
  • Lender
  • Loan
  • Occupation
  • Payment
  • Purchase
  • Reconcile
  • Variable interest
Unit Assessment Items System Resources Other Resources

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Unit Assessment Items that have been published by your district may be accessed through Search All Components in the District Resources tab. Assessment items may also be found using the Assessment Creator if your district has granted access to that tool.

System Resources may be accessed through Search All Components in the District Resources Tab.

Texas Higher Education Coordinating Board – Texas College and Career Readiness Standards

 

Texas Education Agency – Texas Response to Curriculum Focal Points for K-8 Mathematics Revised 2013

 

Texas Education Agency – Mathematics Curriculum

 

Texas Education Agency – STAAR Mathematics Resources

 

Texas Education Agency Texas Gateway – Revised Mathematics TEKS: Vertical Alignment Charts

 

Texas Education Agency Texas Gateway – Mathematics TEKS: Supporting Information

 

Texas Education Agency Texas Gateway – Interactive Mathematics Glossary

 

Texas Education Agency Texas Gateway – Resources Aligned to Grade 6 Mathematics TEKS

 

Texas Instruments – Graphing Calculator Tutorials


TEKS# SE# Unit Level Taught Directly TEKS Unit Level Specificity
 

Legend:

  • Knowledge and Skills Statements (TEKS) identified by TEA are in italicized, bolded, black text.
  • Student Expectations (TEKS) identified by TEA are in bolded, black text.
  • Student Expectations (TEKS) are labeled Supporting as identified by TEA of the assessed curriculum.
  • Student Expectations (TEKS) are labeled Process standards as identified by TEA of the assessed curriculum.
  • Portions of the Student Expectations (TEKS) that are not included in this unit but are taught in previous or future units are indicated by a strike-through.

Legend:

  • Supporting information / clarifications (specificity) written by TEKS Resource System are in blue text.
  • Unit-specific clarifications are in italicized, blue text.
  • Information from Texas Education Agency (TEA), Texas College and Career Readiness Standards (TxCCRS), Texas Response to Curriculum Focal Points (TxRCFP) is labeled.
  • A Partial Specificity label indicates that a portion of the specificity not aligned to this unit has been removed.
6.1 Mathematical process standards. The student uses mathematical processes to acquire and demonstrate mathematical understanding. The student is expected to:
6.1A Apply mathematics to problems arising in everyday life, society, and the workplace.
Process Standard

Apply

MATHEMATICS TO PROBLEMS ARISING IN EVERYDAY LIFE, SOCIETY, AND THE WORKPLACE

Including, but not limited to:

  • Mathematical problem situations within and between disciplines
    • Everyday life
    • Society
    • Workplace

Note(s):    

  • The mathematical process standards may be applied to all content standards as appropriate.
  • TxRCFP:
    • Using operations with integers and positive rational numbers to solve problems
    • Understanding and applying ratios and rates and using equivalent ratios to represent proportional relationships
    • Using expressions and equations to represent relationships in a variety of contexts
    • Understanding data representation
  • TxCCRS:
    • X. Connections
6.1B Use a problem-solving model that incorporates analyzing given information, formulating a plan or strategy, determining a solution, justifying the solution, and evaluating the problem-solving process and the reasonableness of the solution.
Process Standard

Use

A PROBLEM-SOLVING MODEL THAT INCORPORATES ANALYZING GIVEN INFORMATION, FORMULATING A PLAN OR STRATEGY, DETERMINING A SOLUTION, JUSTIFYING THE SOLUTION, AND EVALUATING THE PROBLEM-SOLVING PROCESS AND THE REASONABLENESS OF THE SOLUTION

Including, but not limited to:

  • Problem-solving model
    • Analyze given information
    • Formulate a plan or strategy
    • Determine a solution
    • Justify the solution
    • Evaluate the problem-solving process and the reasonableness of the solution

Note(s):    

  • The mathematical process standards may be applied to all content standards as appropriate.
  • TxRCFP:
    • Using operations with integers and positive rational numbers to solve problems
    • Understanding and applying ratios and rates and using equivalent ratios to represent proportional relationships
    • Using expressions and equations to represent relationships in a variety of contexts
    • Understanding data representation
  • TxCCRS:
    • VIII. Problem Solving and Reasoning
6.1C

Select tools, including real objects, manipulatives, paper and pencil, and technology as appropriate, and techniques, including mental math, estimation, and number sense as appropriate, to solve problems.


Process Standard

Select

TOOLS, INCLUDING PAPER AND PENCIL AND TECHNOLOGY AS APPROPRIATE, AND TECHNIQUES, INCLUDING MENTAL MATH, ESTIMATION, AND NUMBER SENSE AS APPROPRIATE, TO SOLVE PROBLEMS

Including, but not limited to:

  • Appropriate selection of tool(s) and techniques to apply in order to solve problems
    • Tools
      • Paper and pencil
      • Technology
    • Techniques
      • Mental math
      • Estimation
      • Number sense

Note(s):    

  • The mathematical process standards may be applied to all content standards as appropriate.
  • TxRCFP:
    • Using operations with integers and positive rational numbers to solve problems
    • Understanding and applying ratios and rates and using equivalent ratios to represent proportional relationships
    • Using expressions and equations to represent relationships in a variety of contexts
    • Understanding data representation
  • TxCCRS:
    • VIII. Problem Solving and Reasoning
6.1D Communicate mathematical ideas, reasoning, and their implications using multiple representations, including symbols, diagrams, graphs, and language as appropriate.
Process Standard

Communicate

MATHEMATICAL IDEAS, REASONING, AND THEIR IMPLICATIONS USING MULTIPLE REPRESENTATIONS, INCLUDING SYMBOLS, DIAGRAMS, GRAPHS, AND LANGUAGE AS APPROPRIATE

Including, but not limited to:

  • Mathematical ideas, reasoning, and their implications
    • Multiple representations, as appropriate
      • Symbols
      • Diagrams
      • Graphs
      • Language

Note(s):    

  • The mathematical process standards may be applied to all content standards as appropriate.
  • TxRCFP:
    • Using operations with integers and positive rational numbers to solve problems
    • Understanding and applying ratios and rates and using equivalent ratios to represent proportional relationships
    • Using expressions and equations to represent relationships in a variety of contexts
    • Understanding data representation
  • TxCCRS:
    • IX. Communication and Representation
6.1E Create and use representations to organize, record, and communicate mathematical ideas.
Process Standard

Create, Use

REPRESENTATIONS TO ORGANIZE, RECORD, AND COMMUNICATE MATHEMATICAL IDEAS

Including, but not limited to:

  • Representations of mathematical ideas
    • Organize
    • Record
    • Communicate
  • Evaluation of the effectiveness of representations to ensure clarity of mathematical ideas being communicated
  • Appropriate mathematical vocabulary and phrasing when communicating mathematical ideas

Note(s):    

  • The mathematical process standards may be applied to all content standards as appropriate.
  • TxRCFP:
    • Using operations with integers and positive rational numbers to solve problems
    • Understanding and applying ratios and rates and using equivalent ratios to represent proportional relationships
    • Using expressions and equations to represent relationships in a variety of contexts
    • Understanding data representation
  • TxCCRS:
    • IX. Communication and Representation
6.1F Analyze mathematical relationships to connect and communicate mathematical ideas.
Process Standard

Analyze

MATHEMATICAL RELATIONSHIPS TO CONNECT AND COMMUNICATE MATHEMATICAL IDEAS

Including, but not limited to:

  • Mathematical relationships
    • Connect and communicate mathematical ideas
      • Conjectures and generalizations from sets of examples and non-examples, patterns, etc.
      • Current knowledge to new learning

Note(s):    

  • The mathematical process standards may be applied to all content standards as appropriate.
  • TxRCFP:
    • Using operations with integers and positive rational numbers to solve problems
    • Understanding and applying ratios and rates and using equivalent ratios to represent proportional relationships
    • Using expressions and equations to represent relationships in a variety of contexts
    • Understanding data representation
  • TxCCRS:
    • X. Connections
6.1G Display, explain, and justify mathematical ideas and arguments using precise mathematical language in written or oral communication.
Process Standard

Display, Explain, Justify

MATHEMATICAL IDEAS AND ARGUMENTS USING PRECISE MATHEMATICAL LANGUAGE IN WRITTEN OR ORAL COMMUNICATION

Including, but not limited to:

  • Mathematical ideas and arguments
    • Validation of conclusions
      • Displays to make work visible to others
        • Diagrams, visual aids, written work, etc.
      • Explanations and justifications
        • Precise mathematical language in written or oral communication

Note(s):    

  • The mathematical process standards may be applied to all content standards as appropriate.
  • TxRCFP:
    • Using operations with integers and positive rational numbers to solve problems
    • Understanding and applying ratios and rates and using equivalent ratios to represent proportional relationships
    • Using expressions and equations to represent relationships in a variety of contexts
    • Understanding data representation
  • TxCCRS:
    • IX. Communication and Representation
6.14 Personal financial literacy. The student applies mathematical process standards to develop an economic way of thinking and problem solving useful in one's life as a knowledgeable consumer and investor. The student is expected to:
6.14A Compare the features and costs of a checking account and a debit card offered by different local financial institutions.
Supporting Standard

Compare

THE FEATURES AND COSTS OF A CHECKING ACCOUNT AND A DEBIT CARD OFFERED BY DIFFERENT LOCAL FINANCIAL INSTITUTIONS

Including, but not limited to:

  • Features and costs of a checking account offered by financial institutions
    • May charge a monthly service fee
      • Monthly service fee may be waived if a certain balance is maintained (e.g., a certain balance is maintained, checking account is linked to a savings account at the same bank; direct deposit(s) ensure regular deposits into the account, etc.).
    • May charge for the cost of the checks
    • Fees for insufficient funds may be assessed if a check is written for more money than is in the account.
      • Fees may vary from $25 to $35 dollars per check.
    • Interest may or may not be earned based on the account balance.
      • Interest is generated by multiplying a predetermined percent by the total
  • Features and costs of a debit card offered by financial institutions
    • May be used to make purchases, like a check, or can be used to withdraw cash from a bank account
      • Fees may be assessed for withdrawing funds using an automated teller machine (ATM) that is not owned by the bank that issued the debit card.
    • Attached to a checking account
      • May be offered at no charge to the account holder or may require an activation fee
    • May offer reward points associated with qualifying purchases that can be used for specific goods and/or services
    • May offer a cashback incentive for each qualifying purchase that is paid out annually

Note(s):

  • Grade Level(s):
    • Grade 5 developed a system for keeping and using financial records.
    • Various mathematical process standards will be applied to this student expectation as appropriate.
  • TxRCFP:
    • Financial literacy
  • TxCCRS:
    • IX. Communication and Representation
    • X. Connections
6.14B Distinguish between debit cards and credit cards.
Supporting Standard

Distinguish

BETWEEN DEBIT CARDS AND CREDIT CARDS

Including, but not limited to:

  • Debit cards
    • May be used to withdraw money from a bank account as purchases are made
    • May be used to withdraw cash from a bank account
    • May be used like cash or checks
  • Credit cards
    • May be used like personal short-term loans
    • May be used to finance purchases
    • Offer monthly payments that can be paid towards the balance due so that purchases can be paid over time
    • Charge a fixed or variable interest rate on the monthly balance or type of purchase made
    • May charge other fees associated with the account (e.g., late fees, annual enrollment fees, payment by phone fees, etc.)
    • Has a credit limit, or a maximum amount that may be withdrawn from the card

Note(s):

  • Grade Level(s):
    • Grade 5 identified the advantages and disadvantages of different methods of payment including checks, credit card, debit card, and electronic payments.
    • Grade 8 will solve real-world problems comparing how interest rate and loan length affect the cost of credit.
    • Various mathematical process standards will be applied to this student expectation as appropriate.
  • TxRCFP:
    • Financial Literacy
  • TxCCRS:
    • IX. Communication and Representation
    • X. Connections
6.14C Balance a check register that includes deposits, withdrawals, and transfers.
Supporting Standard

Balance

A CHECK REGISTER THAT INCLUDES DEPOSITS, WITHDRAWALS, AND TRANSFERS

Including, but not limited to:

  • Deposit – money put into an account
  • Withdrawal – money taken out of an account
  • Transfer – money moved from one account to another account
    • A transfer is considered a deposit into the bank account receiving the transfer.
    • A transfer is considered a withdrawal from the bank account sending the transfer.
  • Available balance – the amount available in an account for a person, business, or organization to spend
  • Check register – a small table to keep track of deposits, withdrawals, transfers, and current available balance
  • Balance – to reconcile your budget or account statement with your check register to make sure the records match and are accurate
  • Process of balancing a check register
    • Record an initial available balance with the date.
    • Log each transaction on a separate row of the register with the date, a description of the payee or deposit, and the exact amount of the transaction in either the “deposit” column or the “withdrawal” column.
    • Calculate the new available balance for each transaction.
      • For withdrawals, subtract the amount of each expense from the available balance, making the new available balance less each time.
      • For deposits, add the amount of each income to the available balance, making the new available balance more each time.
    • After all deposit and withdrawal items have been logged and calculated, the last balance at the bottom of the register is the new available balance to be considered for future spending and saving.

Note(s):

  • Grade Level(s):
    • Grade 6 introduces balancing a check register that includes deposits, withdrawals, and transfers.
    • Grade 7 will create and organize a financial assets and liabilities record and construct a net worth statement.
    • Various mathematical process standards will be applied to this student expectation as appropriate.
  • TxRCFP:
    • Financial Literacy
  • TxCCRS:
    • I. Numeric Reasoning
    • IX. Communication and Representation
    • X. Connections
6.14D Explain why it is important to establish a positive credit history.

Explain

WHY IT IS IMPORTANT TO ESTABLISH A POSITIVE CREDIT HISTORY

Including, but not limited to:

  • Credit history
    • Established by the number of open credit accounts, the length of time credit accounts have been opened, the balances on credit accounts, the number of on-time payments, and the number of credit inquiries for an individual
    • A positive credit history is established by paying bills and loan payments on time and in full according to the credit agreement.
  • Importance of a positive credit history
    • Large and/or major purchases (e.g., appliances, furniture, automobiles, property) may require approval from a lender.
    • Lenders examine an individual’s credit history to determine if they should loan money to the individual.
    • Positive credit histories may entitle an individual to a lower monthly interest rate than someone without a positive credit history.

Note(s):

  • Grade Level(s):
    • Grade 2 identified examples of borrowing and distinguished between responsible and irresponsible borrowing.
    • Grade 8 will solve real-world problems comparing how interest rate and loan length affect the cost of credit.
    • Grade 8 will calculate the total cost of repaying a loan, including credit cards and easy access loans, under various rates of interest and over different periods using an online calculator.
    • Grade 8 will identify and explain the advantages and distadvantages of different payment methods.
    • Various mathematical process standards will be applied to this student expectation as appropriate.
  • TxRCFP:
    • Financial Literacy
  • TxCCRS:
    • IX. Communication and Representation
    • X. Connections
6.14E Describe the information in a credit report and how long it is retained.
Supporting Standard

Describe

THE INFORMATION IN A CREDIT REPORT AND HOW LONG IT IS RETAINED

Including, but not limited to:

  • Information on a credit report
    • Personal information
      • Full name, and maiden name if applicable
      • Current address and/or previous addresses
      • Social security number
      • Date of birth
      • Driver’s license or state identification number
      • Current and/or previous employers
      • Current and previous applications for credit
      • Number of credit inquiries
      • Number of bankruptcies
      • Number of arrests
      • Number of law suits
    • A list of companies that an individual has a current account with and/or a list of companies for which accounts have been paid in full.
    • Open accounts
      • All current account balances and monthly payments made (e.g., credit cards, personal loans, car loans, medical bills, home mortgages, and any other accounts that require regular payments, etc.)
    • Closed accounts
      • All past accounts that have been paid in full
      • All accounts that have been charged off as bad accounts due to failure of payment
    • Payment history
      • Number of on time payments
      • Number of early payments
      • Number of late payments
      • Number of payments that have not been made and may have been turned over to collection agencies
    • Credit score
      • A three-digit number between 300 and 850 associated with an individual’s credit history and risk calculated by a credit reporting agency (e.g., Equifax, Experian, TransUnion) 
      • Credit scores are usually updated monthly.
  • Duration of information retained
    • Most information regarding accounts and payments is retained for 7 years.
    • Bankruptcy may be retained for 10 years.
    • Criminal history may be retained indefinitely.

Note(s):

  • Grade Level(s):
    • Grade 2 identified examples of borrowing and distinguished between responsible and irresponsible borrowing.
    • Grade 8 will solve real-world problems comparing how interest rate and loan length affect the cost of credit.
    • Grade 8 will calculate the total cost of repaying a loan, including credit cards and easy access loans, under various rates of interest and over different periods using an online calculator.
    • Grade 8 will identify and explain the advantages and disadvantages of different payment methods.
    • Various mathematical process standards will be applied to this student expectation as appropriate.
  • TxRCFP:
    •  Financial Literacy
  • TxCCRS:
    • IX. Communication and Representation
    • X. Connections
6.14F Describe the value of credit reports to borrowers and to lenders.
Supporting Standard

Describe

THE VALUE OF CREDIT REPORTS TO BORROWERS AND TO LENDERS

Including, but not limited to:

  • Value of credit reports to borrowers
    • Positive credit reports show borrower’s payment history and ability to pay.
    • Positive credit reports may lower interest rates for future lending.
    • Allows borrowers to know their credit rating
      • Inaccurate credit reports may indicate identity theft or fraud.
    • Poor credit reports help borrowers to determine the accounts and/or information that should be resolved to improve their credit report.
  • Value of credit report to lenders
    • Allows lenders to determine financial stability and/or financial risk involved with a borrower
    • Allows lenders to share information about an individual’s credit
    • Allows lenders to view all current and/or past accounts of the borrower along with their payment history

Note(s):

  • Grade Level(s):
    • Grade 2 identified examples of lending and used concepts of benefits and costs to evaluate lending decisions.
    • Grade 8 will solve real-world problems comparing how interest rate and loan length affect the cost of credit.
    • Grade 8 will calculate the total cost of repaying a loan, including credit cards and easy access loans, under vaious rates of nterest and over different periods using an online calculator.
    • Grade 8 will identify and explain the advantages and disadvantages of different payment methods.
    • Various mathematical process standards will be applied to this student expectation as appropriate.
  • TxRCFP:
    • Financial Literacy
  • TxCCRS:
    • IX. Communication and Representation
    • X. Connections
6.14G Explain various methods to pay for college, including through savings, grants, scholarships, student loans, and work-study.
Supporting Standard

Explain

VARIOUS METHODS TO PAY FOR COLLEGE, INCLUDING THROUGH SAVINGS, GRANTS, SCHOLARSHIPS, STUDENT LOANS, AND WORK-STUDY

Including, but not limited to:

  • Savings account – a bank or credit union account in which the money deposited earns interest so there will be more money in the future than originally deposited
    • Traditional savings account – money put into a savings account much like paying a monthly expense such as a light bill or phone bill
    • Taxable investment account – many companies will create an investment portfolio with the specific purpose of saving and building a strong portfolio to be used to pay for college
    • Annuity – deductible and non-deductible contributions may be made, taxes may be waived if used for higher education
    • U.S. savings bond – money saved for a specific length of time and guaranteed by the federal government
    • 529 account – educational savings account managed by the state, and is usually tax-deferred
  • Grant – money that is awarded to students usually based on need with no obligation to repay this money
  • Scholarship – money that is awarded to students based on educational achievement with no obligation to repay this money
  • Student loan – borrowed money that must be paid back with interest
    • Direct subsidized federal student loan – a loan issued by the U.S. Government in an amount determined by the college available to undergraduate students who demonstrate a financial need where the U.S. Government pays the interest on the loans while the student is enrolled at least half-time, up to six months after leaving school, or during a requested deferment period
    • Direct unsubsidized federal student loan – a loan issued by the U.S. Government in an amount determined by the college available to undergraduate or graduate students where the interest is paid by the borrower from the time the loan is initiated, even during requested deferment or forbearance periods
    • Private student loan – a loan issued by a lender other than the U.S. Government
  • Work study – programs that allow students to work in exchange for a portion of their tuition

Note(s):

  • Grade Level(s):
    • Grade 2 identified examples of borrowing and distinguished between responsible and irresponsible borrowing.
    • Various mathematical process standards will be applied to this student expectation as appropriate.
  • TxRCFP:
    • Financial Literacy
  • TxCCRS:
    • IX. Communication and Representation
    • X. Connections
6.14H Compare the annual salary of several occupations requiring various levels of post-secondary education or vocational training and calculate the effects of the different annual salaries on lifetime income.
Supporting Standard

Compare

THE ANNUAL SALARY OF SEVERAL OCCUPATIONS REQUIRING VARIOUS LEVELS OF POST-SECONDARY EDUCATION OR VOCATIONAL TRAINING

Including, but not limited to:

  • Salary – a fixed annual sum that may or may not be dependent on the number of hours worked and usually paid in regular increments, such as monthly
  • Post-secondary education – education that occurs beyond high school, usually at a college or university
    • Associate’s degree – a degree usually earned at a community college that is for a specific occupation and can be used towards pursuing a bachelor’s degree
    • Bachelor’s degree – a degree usually earned from a four-year college or university by completing undergraduate coursework in a specific field of study
    • Master’s degree – an advanced or postgraduate degree that is obtained after receiving a bachelor’s degree and is highly specialized in a specific field or occupation
    • Doctoral degree – the most advanced postgraduate degree that is obtained after receiving a bachelor’s and/or master’s degree and is extremely specialized in a specific field or occupation
  • Vocational training – training that occurs beyond high school and specializes in a specific field of work (e.g., medical transcriber, mechanic, electrician, welder, etc.) and may require state certification and/or a license
  • Generalizations of annual salaries of occupations requiring post-secondary or vocational training
    • Annual salaries are usually directly related to the amount of post-secondary or vocational training accumulated.
    • Occupations requiring post-secondary education or vocational training usually offer salaries more than those occupations that do not require post-secondary education or vocational training.

Calculate

THE EFFECTS OF THE DIFFERENT ANNUAL SALARIES ON LIFETIME INCOME

Including, but not limited to:

  • Lifetime income
    • Determined by the number of years spent working and the salary earned during those years.
  • Generalizations of the effects of salary on lifetime income
    • The more money earned each year, the more money earned in a lifetime.
    • The less money earned each year, the less money earned in a lifetime.
    • Lower annual salaries will require more years of working to equal the lifetime income of those individuals who work fewer years at a higher annual salary.

Note(s):

  • Grade Level(s):
    • Grade 5 explained the difference between gross income and net income.
    • Grade 7 will use data from a random sample to make inferences about a population.
    • Grade 7 will use a family budget estimator to determine the minimum household budget and average hourly wage needed for a family to meet its basic needs in the student's city or another large city nearby.
    • Grade 8 will estimate the cost of a two-year and four-year college education, including family contribution, and devise a periodic savings plan for accumulating the money needed to contribute to the total cost of attendance for at least the first year of college.
    • Various mathematical process standards will be applied to this student expectation as appropriate.
  • TxRCFP:
    • Financial Literacy
  • TxCCRS:
    • IX. Communication and Representation
    • X. Connections
The English Language Proficiency Standards (ELPS), as required by 19 Texas Administrative Code, Chapter 74, Subchapter A, §74.4, outline English language proficiency level descriptors and student expectations for English language learners (ELLs). School districts are required to implement ELPS as an integral part of each subject in the required curriculum.

School districts shall provide instruction in the knowledge and skills of the foundation and enrichment curriculum in a manner that is linguistically accommodated commensurate with the student’s levels of English language proficiency to ensure that the student learns the knowledge and skills in the required curriculum.


School districts shall provide content-based instruction including the cross-curricular second language acquisition essential knowledge and skills in subsection (c) of the ELPS in a manner that is linguistically accommodated to help the student acquire English language proficiency.

http://ritter.tea.state.tx.us/rules/tac/chapter074/ch074a.html#74.4 


Choose appropriate ELPS to support instruction.

ELPS# Subsection C: Cross-curricular second language acquisition essential knowledge and skills.
Click here to collapse or expand this section.
ELPS.c.1 The ELL uses language learning strategies to develop an awareness of his or her own learning processes in all content areas. In order for the ELL to meet grade-level learning expectations across the foundation and enrichment curriculum, all instruction delivered in English must be linguistically accommodated (communicated, sequenced, and scaffolded) commensurate with the student's level of English language proficiency. The student is expected to:
ELPS.c.1A use prior knowledge and experiences to understand meanings in English
ELPS.c.1B monitor oral and written language production and employ self-corrective techniques or other resources
ELPS.c.1C use strategic learning techniques such as concept mapping, drawing, memorizing, comparing, contrasting, and reviewing to acquire basic and grade-level vocabulary
ELPS.c.1D speak using learning strategies such as requesting assistance, employing non-verbal cues, and using synonyms and circumlocution (conveying ideas by defining or describing when exact English words are not known)
ELPS.c.1E internalize new basic and academic language by using and reusing it in meaningful ways in speaking and writing activities that build concept and language attainment
ELPS.c.1F use accessible language and learn new and essential language in the process
ELPS.c.1G demonstrate an increasing ability to distinguish between formal and informal English and an increasing knowledge of when to use each one commensurate with grade-level learning expectations
ELPS.c.1H develop and expand repertoire of learning strategies such as reasoning inductively or deductively, looking for patterns in language, and analyzing sayings and expressions commensurate with grade-level learning expectations.
ELPS.c.2 The ELL listens to a variety of speakers including teachers, peers, and electronic media to gain an increasing level of comprehension of newly acquired language in all content areas. ELLs may be at the beginning, intermediate, advanced, or advanced high stage of English language acquisition in listening. In order for the ELL to meet grade-level learning expectations across the foundation and enrichment curriculum, all instruction delivered in English must be linguistically accommodated (communicated, sequenced, and scaffolded) commensurate with the student's level of English language proficiency. The student is expected to:
ELPS.c.2A distinguish sounds and intonation patterns of English with increasing ease
ELPS.c.2B recognize elements of the English sound system in newly acquired vocabulary such as long and short vowels, silent letters, and consonant clusters
ELPS.c.2C learn new language structures, expressions, and basic and academic vocabulary heard during classroom instruction and interactions
ELPS.c.2D monitor understanding of spoken language during classroom instruction and interactions and seek clarification as needed
ELPS.c.2E use visual, contextual, and linguistic support to enhance and confirm understanding of increasingly complex and elaborated spoken language
ELPS.c.2F listen to and derive meaning from a variety of media such as audio tape, video, DVD, and CD ROM to build and reinforce concept and language attainment
ELPS.c.2G understand the general meaning, main points, and important details of spoken language ranging from situations in which topics, language, and contexts are familiar to unfamiliar
ELPS.c.2H understand implicit ideas and information in increasingly complex spoken language commensurate with grade-level learning expectations
ELPS.c.2I demonstrate listening comprehension of increasingly complex spoken English by following directions, retelling or summarizing spoken messages, responding to questions and requests, collaborating with peers, and taking notes commensurate with content and grade-level needs.
ELPS.c.3 The ELL speaks in a variety of modes for a variety of purposes with an awareness of different language registers (formal/informal) using vocabulary with increasing fluency and accuracy in language arts and all content areas. ELLs may be at the beginning, intermediate, advanced, or advanced high stage of English language acquisition in speaking. In order for the ELL to meet grade-level learning expectations across the foundation and enrichment curriculum, all instruction delivered in English must be linguistically accommodated (communicated, sequenced, and scaffolded) commensurate with the student's level of English language proficiency. The student is expected to:
ELPS.c.3A practice producing sounds of newly acquired vocabulary such as long and short vowels, silent letters, and consonant clusters to pronounce English words in a manner that is increasingly comprehensible
ELPS.c.3B expand and internalize initial English vocabulary by learning and using high-frequency English words necessary for identifying and describing people, places, and objects, by retelling simple stories and basic information represented or supported by pictures, and by learning and using routine language needed for classroom communication
ELPS.c.3C speak using a variety of grammatical structures, sentence lengths, sentence types, and connecting words with increasing accuracy and ease as more English is acquired
ELPS.c.3D speak using grade-level content area vocabulary in context to internalize new English words and build academic language proficiency
ELPS.c.3E share information in cooperative learning interactions
ELPS.c.3F ask and give information ranging from using a very limited bank of high-frequency, high-need, concrete vocabulary, including key words and expressions needed for basic communication in academic and social contexts, to using abstract and content-based vocabulary during extended speaking assignments
ELPS.c.3G express opinions, ideas, and feelings ranging from communicating single words and short phrases to participating in extended discussions on a variety of social and grade-appropriate academic topics
ELPS.c.3H narrate, describe, and explain with increasing specificity and detail as more English is acquired
ELPS.c.3I adapt spoken language appropriately for formal and informal purposes
ELPS.c.3J respond orally to information presented in a wide variety of print, electronic, audio, and visual media to build and reinforce concept and language attainment.
ELPS.c.4 The ELL reads a variety of texts for a variety of purposes with an increasing level of comprehension in all content areas. ELLs may be at the beginning, intermediate, advanced, or advanced high stage of English language acquisition in reading. In order for the ELL to meet grade-level learning expectations across the foundation and enrichment curriculum, all instruction delivered in English must be linguistically accommodated (communicated, sequenced, and scaffolded) commensurate with the student's level of English language proficiency. For Kindergarten and Grade 1, certain of these student expectations apply to text read aloud for students not yet at the stage of decoding written text. The student is expected to:
ELPS.c.4A learn relationships between sounds and letters of the English language and decode (sound out) words using a combination of skills such as recognizing sound-letter relationships and identifying cognates, affixes, roots, and base words
ELPS.c.4B recognize directionality of English reading such as left to right and top to bottom
ELPS.c.4C develop basic sight vocabulary, derive meaning of environmental print, and comprehend English vocabulary and language structures used routinely in written classroom materials
ELPS.c.4D use prereading supports such as graphic organizers, illustrations, and pretaught topic-related vocabulary and other prereading activities to enhance comprehension of written text
ELPS.c.4E read linguistically accommodated content area material with a decreasing need for linguistic accommodations as more English is learned
ELPS.c.4F use visual and contextual support and support from peers and teachers to read grade-appropriate content area text, enhance and confirm understanding, and develop vocabulary, grasp of language structures, and background knowledge needed to comprehend increasingly challenging language
ELPS.c.4G demonstrate comprehension of increasingly complex English by participating in shared reading, retelling or summarizing material, responding to questions, and taking notes commensurate with content area and grade level needs
ELPS.c.4H read silently with increasing ease and comprehension for longer periods
ELPS.c.4I demonstrate English comprehension and expand reading skills by employing basic reading skills such as demonstrating understanding of supporting ideas and details in text and graphic sources, summarizing text, and distinguishing main ideas from details commensurate with content area needs
ELPS.c.4J demonstrate English comprehension and expand reading skills by employing inferential skills such as predicting, making connections between ideas, drawing inferences and conclusions from text and graphic sources, and finding supporting text evidence commensurate with content area needs
ELPS.c.4K demonstrate English comprehension and expand reading skills by employing analytical skills such as evaluating written information and performing critical analyses commensurate with content area and grade-level needs.
ELPS.c.5 The ELL writes in a variety of forms with increasing accuracy to effectively address a specific purpose and audience in all content areas. ELLs may be at the beginning, intermediate, advanced, or advanced high stage of English language acquisition in writing. In order for the ELL to meet grade-level learning expectations across foundation and enrichment curriculum, all instruction delivered in English must be linguistically accommodated (communicated, sequenced, and scaffolded) commensurate with the student's level of English language proficiency. For Kindergarten and Grade 1, certain of these student expectations do not apply until the student has reached the stage of generating original written text using a standard writing system. The student is expected to:
ELPS.c.5A learn relationships between sounds and letters of the English language to represent sounds when writing in English
ELPS.c.5B write using newly acquired basic vocabulary and content-based grade-level vocabulary
ELPS.c.5C spell familiar English words with increasing accuracy, and employ English spelling patterns and rules with increasing accuracy as more English is acquired
ELPS.c.5D edit writing for standard grammar and usage, including subject-verb agreement, pronoun agreement, and appropriate verb tenses commensurate with grade-level expectations as more English is acquired
ELPS.c.5E employ increasingly complex grammatical structures in content area writing commensurate with grade-level expectations, such as:
ELPS.c.5F write using a variety of grade-appropriate sentence lengths, patterns, and connecting words to combine phrases, clauses, and sentences in increasingly accurate ways as more English is acquired
ELPS.c.5G narrate, describe, and explain with increasing specificity and detail to fulfill content area writing needs as more English is acquired.
Last Updated 08/01/2018
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