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50/30/20 Budgeting

50/30/20 Budgeting

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Here's how 50/30/20 Budgeting aligns with curriculum standards in Alabama. Use the filters to change the location, set of standards, and grade level.

Personal Finance

Financial Responsibility

2: Describe personal spending behavior that contributes to building wealth.

Standards
Defined by Alabama Course of Study: Finance 9th-12th Grades and align with 50/30/20 Budgeting
b: Practices that assist individuals and families to achieve and maintain financial security. Examples: determining needs and wants, creating a budget, setting goals, keeping records, developing a personal financial plan, saving, investing

3: Explain how goals, decision‑making, and planning affect personal financial choices and behaviors.

Standards
Defined by Alabama Course of Study: Finance 9th-12th Grades and align with 50/30/20 Budgeting
a: Create a plan to reach a specific financial goal.
c: Explain the advantages of designing and following a personal financial plan.

Consumer Decisions and Behavior

10: Apply a decision‑making model to maximize consumer satisfaction when buying goods and services.

Standards
Defined by Alabama Course of Study: Finance 9th-12th Grades and align with 50/30/20 Budgeting
a: Categorize possible purchases of goods and services as wants or needs, explaining the reasoning for each decision.

Money Management

14: Demonstrate how to set financial goals and analyze the costs and benefits of spending decisions.

Standards
Defined by Alabama Course of Study: Finance 9th-12th Grades and align with 50/30/20 Budgeting
b: Compose an argument supporting the concept of paying yourself first.
c: Determine the amount of savings needed for a given household.

16: Prepare a monthly budget for an individual or a family given their income, savings goals, taxes, and list of fixed and variable expenses.

Standards
Defined by Alabama Course of Study: Finance 9th-12th Grades and align with 50/30/20 Budgeting
b: Describe methods of allocating resources to meet savings and investment goals.

Saving

22: Research and report on the benefits of savings.

Standards
Defined by Alabama Course of Study: Finance 9th-12th Grades and align with 50/30/20 Budgeting
c: Explain reasons for maintaining an emergency savings account and methods for determining the amount needed.