State-by-State Assessment with Regard to Financial Literacy and Personal Finance Education Actions

State Department of Education Link  
Legislation and Authorization

In December 2009, the Colorado State Board of Education adopted revised content standards that included integration of Personal Financial Literacy standards within both the economics and mathematics content areas. Pursuant to the requirements of House Bill 04-1360 (Colorado Revised Statutes, 22-7-127), the Colorado Department of Education has developed a financial literacy resource bank to provide technical assistance in financial literacy to school districts. In addition to House Bill 04-1360, House Bill 1168, passed in 2008, required the adoption of standards for Financial Literacy.

The Colorado State Legislature has allocated $40,000 to CDE to promote financial literacy and to create and maintain a resource bank of materials pertaining to financial literacy. Financial literacy enables students to manage savings, investment, and checking accounts, to design and maintain a household budget, to manage personal debt, to understand consumer credit and finance, to manage personal credit options, and to understand and select among short-term and long-term investment options.

Links to State Bills  
Additional Links Personal Financial Literacy
Stand-Alone Personal Finance Standards NO
Personal Finance Standards in Career and Techical Education (CTE), Family and Consumer Sciences NO
Personal Finance Embedded in Social Studies or Economics Standards YES Personal financial literacy was integrated P-13 in the Economics and Mathematics standards in order to ensure the school experience prepared students for the financial expectations that await them on leaving school. Financial Literacy expectations are indicated with (PFL) within the Mathematics and the Economics document. The content focuses on four main areas of learning that are considered essential: 1. Goal Setting, Financial Responsibility and Careers - Understand the importance of personal financial goal setting and responsibility and apply those concepts in a consumer-driven, global marketplace.
2. Planning, Income, Saving and Investing - Create and manage a financial plan for short-term and long-term financial security to make informed spending and saving decisions that are compatible with changing personal goals.
3. Using Credit - Analyze and manage factors that affect the choice, credit, costs, sources and legal aspects of using credit.
4. Risk Management and Insurance - Analyze and apply appropriate and cost effect risk management strategies.
Personal Finance Embedded in Mathematics Common Core Standard YES The state has specific Personal Finance Expectations Addendum to K-12 Math Standards. Personal financial literacy was integrated P-13 in the Economics and Mathematics standards
State Has Adopted Mathematics and English Language Arts Common Core YES
Personal Finance or Financial Literacy Course Required or Offered YES Offered in Math and Social Studies
Personal Finance Course Required for Graduation   NO
Personal Finance Content required in Economics or Other Course Required for Graduation   NO Not for graduation in 2013-14. However, Colorado adopted new graduation guidelines May 2013. Each of the 178 districts must develop requirements based upon the Colorado High School Graduation Guidelines adopted by the State Board of Education, May 23, 2013. All 178 districts will have the 2013-14 school year to adopt local high school graduation policies that meet or exceed the state guidelines. Districts will then implement their graduation policies with the ninth grade class for graduation in 2018.
Prescribed or Recommended Personal Finance Curriculum  Extensive curriculum, lessons, and teacher training.
State Requires Economic Reasoning /Thinking Skills  YES
State Standard Correlated with Jump$tart Financial Literacy Standard YES
State Assessment of Personal Finance Required  YES Social Studies/Economics Assessment for grades 4, 7 and 12 includes personal finance topics. Assessment of Social Studies/ Economics Grade 12 topics are explicitly identified in the standards as legitimate content for the assessment in addition to the standards' concept and skills. The Economics Strand includes the following topics:
• Design, analyze, and apply a financial plan based on short‐ and long‐term financial goals (PFL)
• The components of personal credit to manage credit and debt (PFL)
• Identify, develop, and evaluate risk‐management strategies (PFL)
Each topic includes additional content detail.
Colorado Academic Standards Summative Assessment Framework is scheduled to be administered in 2014.
Financial Literacy Bills Currently Being Considered by the State Legislature NONE
Financial Literacy Education Bills Signed by Governor and/or Passed by the House and Senate  Signed by governor 5/5/11, Chapter 151 provides for the transfer of moneys from certain cash funds, including one related to financial literacy, to the state education fund.
State Appropriations and State Dept Education Funding for K-12 YES The Colorado State Legislature has allocated $40,000 to CDE to promote financial literacy and to create and maintain a resource bank of materials pertaining to financial literacy. - See more at: 
Established Financial Literacy Month N/A