What Missouri requires
Missouri's statewide graduation rule requires 24 units, including one-half unit of personal finance. DESE says the State Board adopted the requirement in 2005 and applied it beginning with the Class of 2010. Local boards may impose additional requirements, must provide nondiscriminatory credit opportunities for students with disabilities, and may authorize variances or substitutions only through officially adopted, consistently applied policies.[1][2]
Students do not all have to enroll in a course titled Personal Finance. A district may teach all state course-level expectations in a stand-alone course or embed them in other coursework. Missouri also permits a test-out route for students who score 90 percent or higher on the state personal finance assessment.[3][4]
Assessment rules depend on the delivery route. The state assessment is required when the expectations are embedded in another course, and the district decides the passing score. It is also required for test-out, where 90 percent is the statewide threshold. For a stand-alone personal finance course, taking the state assessment is optional.[3][4]
Missouri's 2017 Personal Finance Course Level Expectations organize the required learning into seven domains: financial decision-making, earning income, buying goods and services, saving, using credit, protecting and insuring, and financial investing. The standards were scheduled for implementation in the 2019-20 school year.[5][3]
- Grades / placement
- Grades 9-12; DESE recommends completion after grade 9
- Responsible agency
- Missouri Department of Elementary and Secondary Education
- Assessment required
- Not located
- Evidence
- 5 primary sources
Implementation timeline
- Milestone 01
The State Board adopted the half-unit personal finance graduation requirement.[2]
- Milestone 02
The graduation-requirements rule became effective.[1]
- Milestone 03
The personal finance graduation requirement first applied to the Class of 2010.[2]
- Milestone 04
The State Board approved the current Personal Finance Course Level Expectations.[3]
- Milestone 05
District implementation of the 2017 expectations began.[3]
Missouri personal finance standards
The complete list below contains all 19 required personal finance topics currently identified in the controlling state materials. Each topic remains separate so educators and search engines can find the exact requirement.
Missouri Personal Finance Course Level Expectations, Grades 9-12
Adopted by Missouri State Board of Education on 2017-09.
Open the official documentFinancial decision-making
Students apply choice, rational decision-making, future consequences, opportunity cost, and unintended consequences to personal financial decisions.
Earning income
Students connect career preparation, labor markets, compensation, taxes, and deductions to income.
- 01
Career choices and consequences
Evaluate how careers affect income and quality of life; connect education and skills to earning potential; explain labor-market wages, changing economic conditions, and entrepreneurial opportunity.[5]
- 02
Forms of compensation
Examine wages, salaries, commissions, employee benefits, and nonwage income including rent, interest, gifts, dividends, profits, and capital gains.[5]
- 03
Taxes and other deductions
Compare gross and net income, explain common payroll deductions, and explain how taxes support public goods and services.[5]
Buying goods and services
Students create budgets, make major purchases, compare substitutes, and evaluate financial institutions.
- 01
Creating a budget
Differentiate income and expenses, analyze spending and saving patterns, build a budget with savings and emergency funds, consider charitable giving, and prioritize expenses and due dates.[5]
- 02
Purchasing high-value items
Research major purchases; compare price, quality, service, and features; respond to deceptive sales; identify payment methods; and compare their costs and benefits.[5]
- 03
Considering alternative goods and services
Evaluate substitutes when an item exceeds the budget and compare features, durability, and maintenance costs.[5]
- 04
Selecting financial institutions
Compare institutions, fees, and requirements; calculate account balances; assess the costs and benefits of formal institutions and virtual exchanges; and explain deposit protections.[5]
Saving
Students plan for goals, apply interest and time-value concepts, and compare saving instruments.
- 01
Reasons for saving
Identify short-, medium-, and long-term goals, develop a savings plan, plan for emergencies, and compare retirement savings choices.[5]
- 02
Interest on savings
Compare simple and compound interest, apply the Rule of 72, and explain how the time value of money affects decisions.[5]
- 03
Saving instruments
Identify savings accounts and certificates of deposit and compare their liquidity, interest, and penalties.[5]
Using credit
Students compare credit products, calculate borrowing costs, evaluate creditworthiness, and apply consumer protections.
- 01
Facets of credit
Distinguish credit from debit, compare consumer-credit sources, evaluate higher-education financing, analyze loan terms, and explain mortgages.[5]
- 02
Interest on credit
Compare APRs and fees, calculate total purchase price, connect risk and creditworthiness to interest, and distinguish secured from unsecured loans.[5]
- 03
Creditworthiness
Evaluate payment history, credit reports, correction strategies, nonlending uses of scores, report accuracy, annual review, consumer laws, and borrower responsibilities.[5]
Protecting and insuring
Students assess financial risks, insurance choices, identity protection, and cybersecurity.
- 01
Protecting against financial risk
Analyze risks to health, property, wealth, and opportunity; explain policies and premiums; choose coverage; connect behavior to cost; and evaluate health-insurance options.[5]
- 02
Protecting personal identity
Analyze legal remedies for identity theft, protect personal information online, and use current approaches to counter cyberattacks.[5]
Financial investing
Students compare investments and connect risk, return, markets, time horizon, and diversification.
- 01
Investment instruments
Compare major asset classes and their risk and rewards, explain stock returns and ownership, and explain how markets establish asset prices.[5]
- 02
Risk and reward
Connect risk to expected return, explain market influences, compare speculative and longer-term choices, and explain how diversification can reduce risk.[5]
Relevant law, rule, or board action
5 CSR 20-100.190
Graduation Requirements for Students in Public High SchoolsRequires at least 24 units for graduation, including one-half unit of personal finance, while allowing local boards to add requirements and establish official substitution or exception policies.[1]
Notes for teachers and curriculum leaders
- For embedded delivery, include all Missouri Personal Finance Course Level Expectations and administer the state assessment. The local district determines the passing score for this pathway.[3][4][5]
- For test-out, administer the state personal finance assessment and award the half-unit only when the student scores at least 90 percent.[3][4]
- For a stand-alone course, the state assessment is optional. DESE says districts determine course grade level and recommends that students complete personal finance after grade 9.[4]
- Apply the district's formally adopted graduation policies when considering disability accommodations, variances, or substitutions. The state rule requires nondiscriminatory opportunities to earn credit and fair, consistent application of any local alternative.[1]
Official sources
- 15 CSR 20-100.190: Graduation Requirements for Students in Public High SchoolsLocator: PDF page 16, sections (1)-(5) and authority noteSupports: 24-unit graduation minimum, 0.5 personal finance unit, local additional requirements, disability accommodations, local variances and substitutions, effective date
- 2Graduation Requirements: How Many Credits Does a Student Need to Graduate?Locator: Personal Finance requirement and implementation statementSupports: 2005 adoption, Class of 2010, 0.5 unit, 24-credit framework
- 4End-of-Course Assessments: Personal FinanceLocator: Personal Finance assessment section and FAQSupports: three completion pathways, assessment rules, 90 percent test-out, local passing score, recommended timing, assessment accommodations, credit placement
- 5Personal Finance Course Level Expectations, Grades 9-12Locator: PDF pages 2-10, domains I-VII and all concept expectationsSupports: complete course expectations, seven domains, grades 9-12
Frequently asked questions
Does Missouri require personal finance to graduate?
Yes. Missouri requires one-half unit of personal finance within the 24-unit public high school graduation minimum.[1][2]
Does Missouri require a stand-alone personal finance course?
No. A stand-alone course is one option, but districts may embed all personal finance expectations in other coursework or allow a student to test out with a score of at least 90 percent.[3][4]
Who must take Missouri's personal finance assessment?
Students receiving embedded instruction must take it, with the district setting the passing score. Students testing out must score at least 90 percent. The assessment is optional for students completing a stand-alone course.[3][4]
When did Missouri's financial literacy requirement begin?
The State Board adopted the requirement in 2005, and it first applied to the graduating Class of 2010.[2]
What do Missouri's personal finance standards cover?
The seven domains cover financial decision-making, income, spending, saving, credit, insurance and identity protection, and investing.[5]