Financial literacy is the ability to use knowledge and skills to manage one's financial resources effectively for a lifetime of financial security. Financial literacy is a continuum of evolving abilities, subject to variables such as age, family, culture, and residence, that individuals use to respond to every-changing personal and economic circumstances.
Financial Literacy Education (FLE) in Indiana describes the academic standards (knowledge and skills) financially literate students should have achieved at two benchmark levels, the end of 8th grade and the end of 12th grade.
Indiana's academic standards for FLE are organized around six areas of study. Skills for thinking, inquiry, and application of these standards are integrated throughout. The six areas of study include:
- Financial Responsibility and Decision Making;
- Relating Income and Careers;
- Planning and Money Management;
- Managing Credit and Debt;
- Risk Management and Insurance; and
- Saving and Investing.
Please review the following information to learn more about FLE.
- See the Middle School FLE Standards to review the standards students are expected to achieve by the end of 8th grade.
- See the High School FLE Standards to review the standards students are expected to achieve by the end of 12th grade.
- See the Personal Financial Responsibility course framework for the course description and content and process standards.
- Review the Guidelines for Personal Financial Responsibility approved by the State Board of Education in 2009.