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Building Academic Vocabulary (BAV)
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| “Personal financial literacy education shall be taught in the public schools of this state.” 70 O.S. § 11-103.6h |
Resources and Information
Personal Financial Literacy is designed for students in Grades 7-12. These standards of learning are priority, essential, and necessary for all Oklahoma students. Learning the ideas, concepts, knowledge, and skills will enable students to implement personal financial decision-making skills; to become wise, successful, and knowledgeable consumers, savers, investors, users of credit, money managers, and to be participating members of a global workforce and society.
The intent of personal financial literacy education is to inform students how individual choices directly influence occupational goals and future earnings potential. Successful money management is a disciplined behavior and much easier when learned earlier in life. The fourteen areas of instruction designated in the Passport to Financial Literacy Act of 2007 (70 O.S. § 11-103.6h) are designed to provide students with the basic skills and knowledge needed to effectively manage their personal finances. Basic economic concepts of scarcity, choice, opportunity cost, and cost/benefit analysis are interwoven throughout the standards and objectives. This systematic way of making personal financial decisions will provide students a foundational understanding for making informed and successful personal financial decisions.
Real world topics covered by these standards include the following:
- Earning an income;
- Understanding state and federal taxes;
- Banking and financial services;
- Balancing a checkbook;
- Savings and investing;
- Planning for retirement;
- Understanding loans and borrowing money, including predatory lending and payday loans;
- Understanding interest, credit card debt, and online commerce;
- Identity fraud and theft;
- Rights and responsibilities of renting or buying a home;
- Understanding insurance;
- Understanding the financial impact and consequences of gambling;
- Bankruptcy; and
- Charitable giving.
Effective and Implementation Dates: The law became effective on July 1, 2007. Implementation will begin in the 2008-09 school year. Implementation will be a graduated phase in process (see table for year and grade).
| Grades | School Year |
| Grade 7 | 2008-09 |
| Grades 7-8 | 2009-10 |
| Grades 7-9 | 2010-11 |
| Grades 7-10 | 2011-12 |
| Grades 7-11 | 2012-13 |
| Grades 7-12 | 2013-14 |
For More Information, Contact:
Kelly Curtright, Director of Social Studies, SDE, (405) 522-3523