Banking

Game • 45 min of learning

Here's how Banking aligns with curriculum standards in Vermont. Use the filters to change the location, set of standards, and grade level.

Location

Standard

Grades

Standards

Defined by Jump$tart National Standards in 2022 8th Grade and align with Banking

8-3a: Compare and contrast different types of financial institutions and their products and services.

8-4a: Explain the difference between a debit card and a credit card.

8-4a: Differentiate between principal and interest.

8-5a: Explain the benefit of compound interest as compared with simple interest.

8-6a: Explain the importance of federal deposit insurance.

8-3b: Compare the interest rate paid by a financial institution on savings accounts to the interest charged by the same institution on loans.

8-4b: Explain how various payment methods are used to purchase goods and services.

8-4b: Demonstrate how earning a higher interest rate on money in a savings account will help a person to reach their savings goal sooner.

8-5b: Demonstrate how annual interest earned increases over time when both the original principal and earned interest are left in a savings account.

8-6b: Compare Federal Deposit Insurance Corporation (FDIC) and National Credit Union Administration (NCUA) insurance coverage limits for checking and savings accounts offered at financial institutions.

8-3c: Explain how financial institutions get the money to pay interest to their customers who deposit money in savings accounts.

8-4c: Summarize the advantages, disadvantages, risks, and protections of various payment methods.