Colorado
Kindergarten
State Standards
Personal Financial Literacy
8: Apply economic reasoning skills to make informed personal financial decisions.
FL.K.5.1: Describe choices people make about how to use the money they earn.
a: Recognize choices people make with their money and explain how financial decisions are made.
b: Explain how money gives people the ability to buy goods and services.
c: Identify the difference between a want and a need and how that impacts purchasing decisions when resources are limited. For example: Buying a healthy snack vs. a candy bar, new shoes vs. a new toy, or a coat vs. a new game.
Colorado Essential Skills
1: Make personal financial decisions based on spending options (Self-Advocacy and Initiative).
2: Determine how to spend money depending on values and choices (Self-Advocacy and Initiative).
3: Demonstrate curiosity, imagination, and eagerness to learn more (Creativity and Innovation).
Inquiry Questions
1: What is money? What is currency? For example: Cash, coins, credit card, debit card.
2: How do people make choices when they want something?
3: How do people make choices about what to buy when there isn't enough money to buy everything? For example: Balancing between wants and needs.
4: What is the difference between a want and a need?
5: What are things all humans need?
6: How can money help people to meet their wants and needs?
7: Why do we use money?
Nature and Skills of Personal Financial Literacy
1: Financially capable individuals differentiate between wants and needs.
2: Financially capable individuals make choices about purchasing to serve wants and needs. For example: Parents pay bills prior to purchasing movie tickets or toys.
Disciplinary, Information, and Media Literacy
1: Compare the benefits and costs of individual choices.
2: Identify positive and negative incentives that influence the decisions that people make.
3: Explain the role of money in making exchange easier.