8.1 
Mathematical process standards. The student uses mathematical processes to acquire and demonstrate mathematical understanding. The student is expected to:


8.1A 
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:
 Representing, applying, and analyzing proportional relationships
 Using expressions and equations to describe relationships, including the Pythagorean Theorem
 Making inferences from data
 TxCCRS:
 VII.D. Problem Solving and Reasoning – Realworld problem solving
 VII.D.1. Interpret results of the mathematical problem in terms of the original realworld situation.
 IX.A. Connections – Connections among the strands of mathematics
 IX.A.1. Connect and use multiple key concepts of mathematics in situations and problems.
 IX.A.2. Connect mathematics to the study of other disciplines.
 IX.B. Connections – Connections of mathematics to nature, realworld situations, and everyday life
 IX.B.1. Use multiple representations to demonstrate links between mathematical and realworld situations.
 IX.B.2. Understand and use appropriate mathematical models in the natural, physical, and social sciences.
 IX.B.3. Know and understand the use of mathematics in a variety of careers and professions.

8.1B 
Use a problemsolving model that incorporates analyzing given information, formulating a plan or strategy, determining a solution, justifying the solution, and evaluating the problemsolving process and the reasonableness of the solution.
Process Standard

Use
A PROBLEMSOLVING MODEL THAT INCORPORATES ANALYZING GIVEN INFORMATION, FORMULATING A PLAN OR STRATEGY, DETERMINING A SOLUTION, JUSTIFYING THE SOLUTION, AND EVALUATING THE PROBLEMSOLVING PROCESS AND THE REASONABLENESS OF THE SOLUTION
Including, but not limited to:
 Problemsolving model
 Analyze given information
 Formulate a plan or strategy
 Determine a solution
 Justify the solution
 Evaluate the problemsolving process and the reasonableness of the solution
Note(s):
 The mathematical process standards may be applied to all content standards as appropriate.
 TxRCFP:
 Representing, applying, and analyzing proportional relationships
 Using expressions and equations to describe relationships, including the Pythagorean Theorem
 Making inferences from data
 TxCCRS:
 I.B. Numeric Reasoning – Number sense and number concepts
 I.B.1. Use estimation to check for errors and reasonableness of solutions.
 V.A. Statistical Reasoning – Design a study
 V.A.1. Formulate a statistical question, plan an investigation, and collect data.
 VII.A. Problem Solving and Reasoning – Mathematical problem solving
 VII.A.1. Analyze given information.
 VII.A.2. Formulate a plan or strategy.
 VII.A.3. Determine a solution.
 VII.A.4. Justify the solution.
 VII.A.5. Evaluate the problemsolving process.
 VII.D. Problem Solving and Reasoning – Realworld problem solving
 VII.D.2. Evaluate the problemsolving process.

8.1C 
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:
 Representing, applying, and analyzing proportional relationships
 Using expressions and equations to describe relationships, including the Pythagorean Theorem
 Making inferences from data
 TxCCRS:
 I.B. Numeric Reasoning – Number sense and number concepts
 I.B.1. Use estimation to check for errors and reasonableness of solutions.
 V.C. Statistical Reasoning – Analyze, interpret, and draw conclusions from data
 V.C.2. Analyze relationships between paired data using spreadsheets, graphing calculators, or statistical software.

8.1D 
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:
 Representing, applying, and analyzing proportional relationships
 Using expressions and equations to describe relationships, including the Pythagorean Theorem
 Making inferences from data
 TxCCRS:
 II.D. Algebraic Reasoning – Representing relationships
 II.D.1. Interpret multiple representations of equations, inequalities, and relationships.
 II.D.2. Convert among multiple representations of equations, inequalities, and relationships.
 VIII.A. Communication and Representation – Language, terms, and symbols of mathematics
 VIII.A.1. Use mathematical symbols, terminology, and notation to represent given and unknown information in a problem.
 VIII.A.2. Use mathematical language to represent and communicate the mathematical concepts in a problem.
 VIII.A.3. Use mathematical language for reasoning, problem solving, making connections, and generalizing.
 VIII.B. Communication and Representation – Interpretation of mathematical work
 VIII.B.1. Model and interpret mathematical ideas and concepts using multiple representations.
 VIII.B.2. Summarize and interpret mathematical information provided orally, visually, or in written form within the given context.
 VIII.C. Communication and Representation – Presentation and representation of mathematical work
 VIII.C.1. Communicate mathematical ideas, reasoning, and their implications using symbols, diagrams, models, graphs, and words.
 VIII.C.2. Create and use representations to organize, record, and communicate mathematical ideas.
 VIII.C.3. Explain, display, or justify mathematical ideas and arguments using precise mathematical language in written or oral communications.
 IX.B. Connections – Connections of mathematics to nature, realworld situations, and everyday life
 IX.B.1. Use multiple representations to demonstrate links between mathematical and realworld situations.

8.1E 
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:
 Representing, applying, and analyzing proportional relationships
 Using expressions and equations to describe relationships, including the Pythagorean Theorem
 Making inferences from data
 TxCCRS:
 VIII.B. Communication and Representation – Interpretation of mathematical work
 VIII.B.1. Model and interpret mathematical ideas and concepts using multiple representations.
 VIII.B.2. Summarize and interpret mathematical information provided orally, visually, or in written form within the given context.
 VIII.C. Communication and Representation – Presentation and representation of mathematical work
 VIII.C.1. Communicate mathematical ideas, reasoning, and their implications using symbols, diagrams, models, graphs, and words.
 VIII.C.2. Create and use representations to organize, record, and communicate mathematical ideas.

8.1F 
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 nonexamples, patterns, etc.
 Current knowledge to new learning
Note(s):
 The mathematical process standards may be applied to all content standards as appropriate.
 TxRCFP:
 Representing, applying, and analyzing proportional relationships
 Using expressions and equations to describe relationships, including the Pythagorean Theorem
 Making inferences from data
 TxCCRS:
 VII.A. Problem Solving and Reasoning – Mathematical problem solving
 VII.A.1. Analyze given information.
 VIII.A. Communication and Representation – Language, terms, and symbols of mathematics
 VIII.A.1. Use mathematical symbols, terminology, and notation to represent given and unknown information in a problem.
 VIII.A.2. Use mathematical language to represent and communicate the mathematical concepts in a problem.
 VIII.A.3. Use mathematical language for reasoning, problem solving, making connections, and generalizing.
 VIII.B. Communication and Representation – Interpretation of mathematical work
 VIII.B.1. Model and interpret mathematical ideas and concepts using multiple representations.
 VIII.C. Communication and Representation – Presentation and representation of mathematical work
 VIII.C.1. Communicate mathematical ideas, reasoning, and their implications using symbols, diagrams, models, graphs, and words.
 VIII.C.2. Create and use representations to organize, record, and communicate mathematical ideas.
 VIII.C.3. Explain, display, or justify mathematical ideas and arguments using precise mathematical language in written or oral communications.
 IX.A. Connections – Connections among the strands of mathematics
 IX.A.1. Connect and use multiple key concepts of mathematics in situations and problems.
 IX.A.2. Connect mathematics to the study of other disciplines.

8.1G 
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:
 Representing, applying, and analyzing proportional relationships
 Using expressions and equations to describe relationships, including the Pythagorean Theorem
 Making inferences from data
 TxCCRS:
 VII.A. Problem Solving and Reasoning – Mathematical problem solving
 VII.A.4. Justify the solution.
 VII.B. Problem Solving and Reasoning – Proportional reasoning
 VII.B.1. Use proportional reasoning to solve problems that require fractions, ratios, percentages, decimals, and proportions in a variety of contexts using multiple representations.
 VII.C. Problem Solving and Reasoning – Logical reasoning
 VII.C.1. Develop and evaluate convincing arguments.
 VIII.A. Communication and Representation – Language, terms, and symbols of mathematics
 VIII.A.3. Use mathematical language for reasoning, problem solving, making connections, and generalizing.
 VIII.B. Communication and Representation – Interpretation of mathematical work
 VIII.B.1. Model and interpret mathematical ideas and concepts using multiple representations.
 VIII.B.2. Summarize and interpret mathematical information provided orally, visually, or in written form within the given context.
 VIII.C. Communication and Representation – Presentation and representation of mathematical work
 VIII.C.3. Explain, display, or justify mathematical ideas and arguments using precise mathematical language in written or oral communications.

8.12 
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:


8.12A 
Solve realworld problems comparing how interest rate and loan length affect the cost of credit.
Supporting Standard

Solve
REALWORLD PROBLEMS COMPARING HOW INTEREST RATE AND LOAN LENGTH AFFECT THE COST OF CREDIT
Including, but not limited to:
 Credit – buying or obtaining goods or services now with an agreement to pay in the future
 Annual percentage rate (APR) – annual percentage rate applied to the balance on a loan compounded monthly
 Principal of a loan – the original amount borrowed
 Interest
 Simple interest for a loan – interest that is calculated only on the principal amount of the loan
 Formula for simple interest from STAAR Grade 8 Mathematics Reference Materials
 I = Prt, where I represents the interest, P represents the principal amount borrowed, r represents the interest rate in decimal form, and t represents the number of years the principal amount is borrowed
 Compound interest for a loan – interest that is computed on the latest balance, including all compounded interest that has been added to the original loan principal
 Formula for compound interest from STAAR Grade 8 Mathematics Reference Material
 A = P(1+ r)^{t}, where A represents the total amount of money borrowed including the principal and accumulated compounded interest, P represents the principal amount borrowed, r represents the interest rate in decimal form, and t represents the number of years the pricipal amount is borrowed
 Generalizations about loans
 Longer the repayment period, usually the higher the interest rate
 Longer the repayment period, the lower the monthly payment
 Longer the repayment period, the greater the amount of money repaid over the life of the loan
 Realworld problem situations comparing interest rates, loan length, and/or cost of credit
Note(s):
 Grade Level(s):
 Grade 6 distinguished between debit cards and credit cards.
 Grade 7 calculated and compared simple interest and compound interest earnings.
 Grade 8 solves realworld problems comparing how interest rate and loan length affect the cost of credit.
 Algebra I will refer to 1 + r in the compound interest formula, A = P(1 + r)^{t}, as the factor and will be given the variable b.
 Mathematical Models with Applications will introduce analyzing compound interest for multiple compounding periods within a year.
 Various mathematical process standards will be applied to this student expectation as appropriate.
 TxRCFP:
 TxCCRS:
 II.A. Algebraic Reasoning – Identifying expressions and equations
 II.A.1. Explain the difference between expressions and equations.
 IX.A. Connections – Connections among the strands of mathematics
 IX.A.1. Connect and use multiple key concepts of mathematics in situations and problems.
 IX.A.2. Connect mathematics to the study of other disciplines.
 IX.B. Connections – Connections of mathematics to nature, realworld situations, and everyday life
 IX.B.2. Understand and use appropriate mathematical models in the natural, physical, and social sciences.
 IX.B.3. Know and understand the use of mathematics in a variety of careers and professions.

8.12B 
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.

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
Including, but not limited to:
 Credit – buying or obtaining goods or services now with an agreement to pay in the future
 Annual percentage rate (APR) – annual percentage rate applied to the balance on a loan compounded monthly
 Principal of a loan – the original amount borrowed
 Collateral – something which is pledged to secure repayment of a loan; in the event of default on the loan, the collateral is forfeited
 Interest
 Simple interest for a loan – interest that is calculated only on the principal amount of the loan
 Formula for simple interest from STAAR Grade 8 Mathematics Reference Materials
 I = Prt, where I represents the interest, P represents the principal amount borrowed, r represents the interest rate in decimal form, and t represents the number of years the principal amount is borrowed
 Compound interest for a loan – interest that is calculated on the latest balance, including all compounded interest that has been added to the original loan principal
 Formula for compound interest from STAAR Grade 8 Mathematics Reference Materials
 A = P(1+ r)^{t}, where A represents the total amount of money borrowed including the pricipal and accumulated compounded interest, P represents the principal amount borrowed, r represents the interest rate in decimal form, and t represents the number of years the principal amount is borrowed
 Generalizations about loans
 Longer the repayment period, the higher the interest rate
 Longer the repayment period, the lower the monthly payment
 Longer the repayment period, the higher the effective interest rate
 Various types of loans
 Easy access loan
 Payday loan – a highinterest, short term loan that is repaid when the borrower receives their next paycheck
 Car title loan – a highinterest, short term loan of cash for which an automobile title is required as collateral
 Credit card
 Tend to have higher interest rates than other types of loans
 Various fees may be associated
 Longer the repayment period, the higher the effective interest rate
 Calculates compound interest
 Online calculator to determine the costs of loans
Note(s):
 Grade Level(s):
 Grade 5 identified the advantages and disadvantages of different methods of payment, including check, credit card, and electronic payments.
 Grade 6 explained why it is important to establish a positive credit history.
 Grade 7 calculated and compared simple interest and compound interest earnings.
 Grade 8 introduces calculating and comparing interest on simple and compound on loans.
 Algebra I will refer to 1 + r in the compound interest formula, A = P(1 + r)^{t}, as the factor and will be given the variable b.
 Mathematical Models with Applications will introduce analyzing compound interest for multiple compounding periods within a year.
 Various mathematical process standards will be applied to this student expectation as appropriate.
 TxRCFP:
 TxCCRS:
 II.A. Algebraic Reasoning – Identifying expressions and equations
 II.A.1. Explain the difference between expressions and equations.
 IX.A. Connections – Connections among the strands of mathematics
 IX.A.1. Connect and use multiple key concepts of mathematics in situations and problems.
 IX.A.2. Connect mathematics to the study of other disciplines.
 IX.B. Connections – Connections of mathematics to nature, realworld situations, and everyday life
 IX.B.2. Understand and use appropriate mathematical models in the natural, physical, and social sciences.
 IX.B.3. Know and understand the use of mathematics in a variety of careers and professions.

8.12C 
Explain how small amounts of money invested regularly, including money saved for college and retirement, grow over time.
Supporting Standard

Explain
HOW SMALL AMOUNTS OF MONEY INVESTED REGULARLY, INCLUDING MONEY SAVED FOR COLLEGE AND RETIREMENT, GROW OVER TIME
Including, but not limited to:
 Principal of an investment – the original amount invested
 Various types of investments
 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 nondeductible contributions may be made, taxes may be waived if used for higher education; sold by financial institutions
 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 taxdeferred
 Retirement savings – optional savings plans or accounts to which the employer can make direct deposits of an amount deducted from the employee's pay at the request of the employee
 401(k) – a set amount of money, or percentage of pay, that is set aside from an employee’s pay check by their employer, before the employee’s wages are taxed. The employer may or may not contribute as well to the employee’s 401(k) fund depending on employer’s policy. The money is taxed when it is withdrawn at retirement age. In addition, if withdrawn prior to retirement age an additional penalty tax is assessed.
 403(b) – a set amount of money, or percentage of pay, that is set aside from an employee’s pay check by their employer, before the employee’s wages are taxed. The money is taxed when it is withdrawn at retirement age. In addition, if withdrawn prior to retirement age an additional penalty tax is assessed.
 Similar to a 401(k); however, 403(b) plans are offered by nonprofit organizations
 Individual retirement account (IRA) – a set amount of money, or percentage of pay, that is invested by an individual with a bank, mutual fund, or brokerage.
 Social Security – a percentage of an employee's pay required by law that the employer withholds from the employee's pay for social security savings which is deposited into the federal retirement system; payment toward that employee's eventual retirement; the employer also is required to pay a matching amount for the employee into the federal retirement system.
 Generalizations of investing money regularly, including money for college and retirement
 Small amounts of money invested regularly build a larger principal amount to earn more interest
 A small amount of money invested for a longer period of time has the potential to earn as much interest as one large lump sum investment.
 Investing small amounts of money regularly may be more manageable for most people and demonstrates longterm financial planning and responsibility.
Note(s):
 Grade Level(s):
 Grade 7 analyzed and compared monetary incentives, including sales, rebates, and coupons.
 Various mathematical process standards will be applied to this student expectation as appropriate.
 TxRCFP:
 TxCCRS:
 IX.A. Connections – Connections among the strands of mathematics
 IX.A.1. Connect and use multiple key concepts of mathematics in situations and problems.
 IX.A.2. Connect mathematics to the study of other disciplines.
 IX.B. Connections – Connections of mathematics to nature, realworld situations, and everyday life
 IX.B.2. Understand and use appropriate mathematical models in the natural, physical, and social sciences.
 IX.B.3. Know and understand the use of mathematics in a variety of careers and professions.

8.12D 
Calculate and compare simple interest and compound interest earnings.
Readiness Standard

Calculate, Compare
SIMPLE INTEREST AND COMPOUND INTEREST EARNINGS
Including, but not limited to:
 Principal of an investment – the original amount invested
 Simple interest for an investment – interest paid on the original principal in an account, disregarding any previously earned interest
 Compound interest for an investment – interest that is calculated on the latest balance, including all compounded interest that has been added to the original principal investment
 Formulas for interest from STAAR Grade 8 Mathematics Reference Materials
 Simple interest
 I = Prt, where I represents the interest, P represents the principal amount deposited, r represents the interest rate in decimal form, and t represents the number of years the principal amount is deposited
 Compound interest
 A = P(1+ r)^{t}, where A represents the total accumulated amount including the principal and earned compounded interest, P represents the principal amount deposited, r represents the interest rate in decimal form, and t represents the number of years the principal amount is deposited
 Comparing simple and compound interest earnings
Note(s):
 Grade Level(s):
 Grade 7 calculated and compared simple interest and compound interest earnings.
 Grade 8 solves realworld problems comparing how interest rate and loan length affect the cost of credit.
 Algebra I will refer to 1 + r in the compound interest formula, A = P(1 + r)^{t}, as the factor and will be given the variable b.
 Mathematical Models with Applications will introduce analyzing compound interest for multiple compounding periods within a year.
 Various mathematical process standards will be applied to this student expectation as appropriate.
 TxRCFP:
 TxCCRS:
 I.A. Numeric Reasoning – Number representations and operations
 I.A.1. Compare relative magnitudes of rational and irrational numbers, and understand that numbers can be represented in different ways.
 II.A. Algebraic Reasoning – Identifying expressions and equations
 II.A.1. Explain the difference between expressions and equations.
 IX.A. Connections – Connections among the strands of mathematics
 IX.A.1. Connect and use multiple key concepts of mathematics in situations and problems.
 IX.A.2. Connect mathematics to the study of other disciplines.
 IX.B. Connections – Connections of mathematics to nature, realworld situations, and everyday life
 IX.B.2. Understand and use appropriate mathematical models in the natural, physical, and social sciences.
 IX.B.3. Know and understand the use of mathematics in a variety of careers and professions.

8.12E 
Identify and explain the advantages and disadvantages of different payment methods.

Identify, Explain
THE ADVANTAGES AND DISADVANTAGES OF DIFFERENT PAYMENT METHODS
Including, but not limited to:
 Check – a written document telling the financial institution to pay a specific amount of money from your account to a specific person or organization
 Must include date, name of payee (person or organization to whom to pay), amount, and a signature from the account holder
 Advantages of checks
 Financial institutions can trace a check to prove your payment was or was not paid.
 Physical copy of transaction may be obtained if duplicate (carbon copy) checks are used or if electronic scanning from a financial institution is available.
 Immediate tracking of payments may help to stay within a budget.
 Payment form to those who do not accept other forms of payment such as credit cards, debit cards, or electronic payments
 Funds may be received without having a bank account.
 Funds may be mailed.
 Disadvantages of checks
 Checks usually must be purchased.
 Timing of withdrawals from bank account depends on when the check is cashed by the payee, which may take days or weeks.
 Fees may be assessed by a financial institution and payee if the value of the check exceeds the available funds in the account and there is not an overdraft protection.
 Not all retailers accept checks as a form of payment.
 Postage may be required if mailing a check as a form of payment.
 Credit card – a card that can be used to borrow money from financial institutions, stores, or other businesses in order to buy products and services on credit
 Lending company allows an individual to borrow money and pay it back over time
 Advantages of credit card
 Convenience of not carrying cash, counting change, or writing in a check book
 Quick payment form of payment by swiping the card and signing for the purchase
 Repayment may occur in one payment or over time.
 Accepted most places as a form of payment
 Incentives may be offered by the lender (e.g., cash back, frequent flier miles, other reward programs, etc.).
 Information from credit card use and payments is linked to an individual’s credit score to determine future lending.
 Theft protection may be available if the card is used without authorization from the cardholder.
 Disadvantages of credit cards
 Fees may be assessed for using a credit card (e.g., annual membership fees, interest rates on unpaid balances, etc.).
 Spending may be more difficult to track
 Limits on the amount of money from the lender as available credit may limit purchases
 Failure to repay the entire amount borrowed may result in a decrease an individual’s credit score to determine future lending and/or legal actions from the lender.
 Application required for each credit card obtained
 Not all brands of credit cards are accepted at every location (e.g., American Express, Visa, a store specific credit card, etc.).
 May not be accepted as a form of payment for certain purchases (e.g., school lunches, bus fare, etc.)
 Banking information may be compromised if lost or stolen
 Debit card – a bankcard issued by a financial institution that is electronically linked to an individual’s checking account for the purpose of making banking transactions, making payments for services, and/or making purchases
 Advantages of debit cards
 Convenience of not carrying cash, counting change, or writing in a checkbook
 Quick payment form of payment by swiping the card and signing for the purchase or entering a personalized identification code (PIN)
 Money is withdrawn from account within hours of the purchase
 Accepted most places
 No application required
 Incentives may be offered by the financial institution (e.g., cash back, etc.).
 Purchases are usually accepted only for amounts of the available balance in the account
 Disadvantages of debit cards
 Fees may be assessed for withdrawing money from an automated teller machine (ATM).
 Information is not linked to an individual’s credit score.
 Limits may be set by a financial institution regarding the amount of purchases that can be made within a specific time period (e.g., $700 within a 24hour period, etc.).
 Banking information may be compromised if lost or stolen
 Requires a bank account
 Storedvalue card – a prepaid card that functions similar to a credit card or debit card
 Advantages of storedvalue cards
 Convenience of not carrying cash, counting change, or writing in a checkbook
 Quick payment form of payment by swiping the card and signing for the purchase or entering a personalized identification code (PIN)
 Money is withdrawn from card balance immediately.
 Accepted any places that accept credit cards
 No application required
 Purchases are usually accepted only for amounts of the available balance on the card.
 Disadvantages of storedvalue cards
 Fees may be assessed for initial purchase of card and/or adding additional money to the card balance.
 Spending may be more difficult to track.
 Information is not linked to an individual’s credit score.
 No protection or reimbursement of funds if lost or stolen
 Electronic payment (epayment) – payments using security features on the Internet
 Various types of electronic payments
 Onetime customer to vendor payment
 Recurring customertovendor payments
 Automatic banktovendor payment
 Advantages of electronic payments
 Convenience of not carrying cash, counting change, or writing in a check book
 Quick form of payment by entering banking information
 No postage needed to mail payment
 May be set up as reoccurring payment
 Disadvantages of electronic payments
 Bank information may be compromised if an unsecure website is used to make a purchase
 Cash
 Advantages of cash
 Quick payment form of payment
 Accepted for most purchases
 Disadvantages of cash
 Finite limit of funds available
 May be difficult to track spending
 Have to carry cash
Note(s):
 Grade Level(s):
 Grade 5 identified the advantages and disadvantages of different methods of payment, including check, credit card, and electronic payments.
 Grade 6 described the information in a credit report and how long it is retained.
 Various mathematical process standards will be applied to this student expectation as appropriate.
 TxRCFP:
 TxCCRS:
 IX.B. Connections – Connections of mathematics to nature, realworld situations, and everyday life
 IX.B.3. Know and understand the use of mathematics in a variety of careers and professions.

8.12F 
Analyze situations to determine if they represent financially responsible decisions and identify the benefits of financial responsibility and the costs of financial irresponsibility.

Analyze
SITUATIONS TO DETERMINE IF THEY REPRESENT FINANCIALLY RESPONSIBLE DECISIONS
Including, but not limited to:
 Characteristics of financially responsible decisions
 Reserving highinterest credit card for emergencies (only use if necessary)
 Comparing interest rates and cost of credit prior to applying for loans or credit cards
 Planning a budget
 Staying within a planned budget
 Consistently invest to create savings for various timeframes and needs (e.g., emergency funds, car, college savings, home down payment, retirement savings, etc.)
 Make payments toward debt aggressively and/or do not create any new debt beyond what is necessary (e.g., home mortgage, etc.)
 Characteristics of financially irresponsible decisions
 Create and/or increase debt quickly without financial planning
 Create long term debt
 Promise to pay without consulting budget
 Making promises to pay that are not within planned budget
 Accepting multiple credit card offers without considering interest rates
 Putting needs on a highinterest credit card (e.g., groceries, etc.)
Identify
THE BENEFITS OF FINANCIAL RESPONSIBILITY AND THE COSTS OF FINANCIAL IRRESPONSIBILITY
Including, but not limited to:
 Various benefits of financial responsibility
 Interest on investments
 Earning good credit scores
 Various costs of financial irresponsibility
 Insufficient funds
 Overdraft fees
 Compounding interest charges
 Earning poor credit scores
Note(s):
 Grade Level(s):
 Grade 6 explained why it is important to establish a positive credit history.
 Grade 8 introduces analyzing situations to determine if they represent financially responsible decisions and identifying the benefits of financial responsibility and the costs of financial irresponsibility.
 Various mathematical process standards will be applied to this student expectation as appropriate.
 TxRCFP:
 TxCCRS:
 IX.B. Connections – Connections of mathematics to nature, realworld situations, and everyday life
 IX.B.3. Know and understand the use of mathematics in a variety of careers and professions.

8.12G 
Estimate the cost of a twoyear and fouryear 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.
Supporting Standard

Estimate
THE COST OF A TWOYEAR AND FOURYEAR COLLEGE EDUCATION, INCLUDING FAMILY CONTRIBUTION
Including, but not limited to:
 Various considerations for each college
 School related costs
 Tuition (in state or out of state)
 Fees
 Room and board
 Books
 Cost of living in location (various costs of living depending on the city and state of college)
 Inflation – the general increase in prices and decrease in the purchasing value of money
 When planning ahead of time for college savings, the increase in all expenses based on inflation must be considered (e.g., tuition, room and board, etc.)
 Family contribution
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
Including, but not limited to:
 Periodic savings plan
 Accumulating money to contribute to a savings plan
 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
 529 account – educational savings account managed by the state, and is usually taxdeferred
 Family contribution
 Plan for saving for college
 Estimate the total cost of attendance for each year at the college
 Determine what, if any, family contributions will be received
 Determine if a savings account was established to pay for college
 Calculate the cost of attending college and subtract the amount saved or contributed to determine yearly or monthly payments toward a college savings plan
 Creation of a budget to include a savings plan to cover the cost of college
Note(s):
 Grade Level(s):
 Grade 6 explained various methods to pay for college, including through savings, grants, scholarships, student loans, and workstudy.
 Grade 7 calculated and compared simple and compound interest earnings.
 Various mathematical process standards will be applied to this student expectation as appropriate.
 TxRCFP:
 TxCCRS:
 IX.A. Connections – Connections among the strands of mathematics
 IX.A.1. Connect and use multiple key concepts of mathematics in situations and problems.
 IX.B. Connections – Connections of mathematics to nature, realworld situations, and everyday life
 IX.B.3. Know and understand the use of mathematics in a variety of careers and professions.
