Personal financial literacy. The student applies mathematical process standards to develop an economic way of thinking and problem solving useful in one's life as a knowledgeable consumer and investor. The student is expected to:

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(A)  compare the features and costs of a checking account and a debit card offered by different local financial institutions;

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(B)  distinguish between debit cards and credit cards;

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(C)  balance a check register that includes deposits, withdrawals, and transfers;

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(D)  explain why it is important to establish a positive credit history;

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(E)  describe the information in a credit report and how long it is retained;

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(F)  describe the value of credit reports to borrowers and to lenders;

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(G)  explain various methods to pay for college, including through savings, grants, scholarships, student loans, and work-study; and

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(H)  compare the annual salary of several occupations requiring various levels of post-secondary education or vocational training and calculate the effects of the different annual salaries on lifetime income.