Washington
3rd Grade
State Standards
3.SSSpending and Saving
Develop a plan for spending and saving.
1Show how saving money can improve financial well-being.
2Categorize types of household expenses and sources of income.
3Describe ways that people can decrease expenses to save more of their income.
4Give an example of how the state government uses tax revenues.
Describe how to use different payment methods.
5List reasons why people keep money in banks and credit unions.
6Calculate the total cost of a purchase that includes multiple items priced in whole dollar amounts.
Apply consumer skills to spending and saving decisions.
7Explain a spending decision based on predetermined criteria for an acceptable outcome and available options.
8Assess how spending choices are influenced by price, advertising, the spending choices of others, and peer pressure.
3.CDCredit and Debt
Analyze the costs and benefits of various types of credit.
1List the potential advantages and disadvantages of using credit.
2Explain why financial institutions lend money.
3Give examples of reasonable conditions to set for the use of borrowed personal property.
3.EIEmployment and Income
Explore job and career options.
1Explain the difference between a career and a job.
2Identify various jobs within a specific career.
3Distinguish how different jobs require different skills, training, and tools.
4Give an example of how an individual's interests, knowledge, and abilities can affect job and career choice.
5Give examples of careers related to a personal interest.
6Examine jobs related to a career of interest.
7Give examples of local businesses.
8Describe how people form businesses to meet customers' needs while generating income for themselves.
Compare sources of personal income and compensation.
9Identify jobs children can do to earn money.
10Give examples of sources of income other than a wage or salary.
3.IInvesting
Explain how investing may build wealth and help meet financial goals.
1Explain the difference between stocks and bonds.
3.RMRisk Management and Insurance
Identify common types of risks and basic risk management methods.
1Understand that risk occurs when there is a chance of harm, either financial harm or physical harm.
2State reasons for keeping money in a depository institution. Justify reasons to use property and liability insurance.
3List responsibilities that homeowners and renters have for the safety of other people.
3.FDFinancial Decision-Making
Recognize the responsibilities associated with personal financial decisions.
1Predict the consequences of spending decisions.
2Analyze money-handling decisions that youth commonly face.
Use reliable resources when making financial decisions.
3Identify reliable sources of information when comparing products such as a bike.
4Discuss ways to verify a claim expressed in advertising for a product.
Make criterion-based financial decisions by systematically considering alternatives and consequences.
5Explain how limited personal financial resources affect the choices people make.
6Compare needs and wants.
7Identify the opportunity cost of a decision.
8Categorize the costs and benefits when making a decision.
9Identify a plan to achieve a specific, measurable goal.
Analyze the requirements of contractual obligations.
10Devise an agreement between friends, listing expectations for each person and consequences of breaking the agreement.
Control personal information.
11List types of personal information that should not be disclosed to others in person or online.
12Explain strategies to protect personal information.
Use a personal financial plan or budget.
13Explain what it means to inherit something.