Strand Overviews
Financial Literacy – Junior Division
OVERALL EXPECTATION F1.
demonstrate the knowledge and skills needed to make informed financial decisions
| Grade 4 | Grade 5 | Grade 6 |
|---|---|---|
| Money Concepts | title |
title |
| F1.1 identify various methods of payment that can be used to purchase goods and services | F1.1 describe several ways money can be transferred among individuals, organizations, and businesses | F1.1 describe the advantages and disadvantages of various methods of payment that can be used to purchase goods and services |
| F1.2 estimate and calculate the cost of transactions involving multiple items priced in whole-dollar amounts, not including sales tax, and the amount of change needed when payment is made in cash, using mental math | F1.2 estimate and calculate the cost of transactions involving multiple items priced in dollars and cents, including sales tax, using various strategies | |
| Financial Management | title |
title |
| F1.3 explain the concepts of spending, saving, earning, investing, and donating, and identify key factors to consider when making basic decisions related to each | F1.3 design sample basic budgets to manage finances for various earning and spending scenarios | F1.2 identify different types of financial goals, including earning and saving goals, and outline some key steps in achieving them |
| F1.4 explain the relationship between spending and saving, and describe how spending and saving behaviours may differ from one person to another | F1.4 explain the concepts of credit and debt, and describe how financial decisions may be impacted by each | F1.3 identify and describe various factors that may help or interfere with reaching financial goals |
| Consumer and Civic Awareness | title |
title |
| F1.5 describe some ways of determining whether something is reasonably priced and therefore a good purchase | F1.5 calculate unit rates for various goods and services, and identify which rates offer the best value | F1.4 explain the concept of interest rates, and identify types of interest rates and fees associated with different accounts and loans offered by various banks and other financial institutions |
| F1.6 describe the types of taxes that are collected by the different levels of government in Canada, and explain how tax revenue is used to provide services in the community | F1.5 describe trading, lending, borrowing, and donating as different ways to distribute financial and other resources among individuals and organizations |