Personal Financial Literacy

Welcome to the Personal Financial Literacy Page!

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


Resources and Information

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).

Grade School Year
Grades 7 2008-2009 School Year
Grades 7-8 2009-2010 School Year
Grades 7-9 2010-2011 School Year
Grades 7-10 2011-2012 School Year
Grades 7-11 2012-2013 School Year
Grades 7-12 2013-2014 School Year


Last updated on October 2, 2015