Personal financial literacy. The student applies mathematical process standards to manage one's financial resources effectively for lifetime financial security. The student is expected to:

(A)  distinguish between fixed and variable expenses;

(B)  calculate profit in a given situation;

(C)  compare the advantages and disadvantages of various savings options;

(D)  describe how to allocate a weekly allowance among spending; saving, including for college; and sharing; and

(E)  describe the basic purpose of financial institutions, including keeping money safe, borrowing money, and lending.

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