Utah integrates financial literacy into existing courses rather than requiring a standalone class. The state has 93 financial literacy standards across 10 topic areas that are embedded within subjects like economics and social studies.
Last updated: March 2026
Does Utah Require Financial Literacy Education?
Yes, through integration. Utah requires financial literacy concepts to be taught within existing courses rather than as a standalone class. Utah requires financial literacy instruction to be integrated throughout the K-12 curriculum, particularly in social studies and mathematics courses. Students must demonstrate competency in personal finance topics including budgeting, saving, credit, and investing.
Mandate Details
- Status
- integrated
- Effective Year
- 2016
- Standalone Course
- No
- Grade Levels
- K-5, 6-8, 9-12
- Legislation
-
SB 154 (2003 Utah Chapter 315) (2003)
SB 61 (2008) (2008)
SB 40 (2014) (2014)
Key Agencies
What Are Utah's Financial Literacy Standards?
Utah has 93 financial literacy standards organized across 10 topic areas. These topics range from Financial Planning & Goal Setting and Education & Career Planning to Retirement & Estate Planning, covering the full spectrum of personal finance education.
How Utah School Districts Adopt Financial Literacy Curriculum
Utah is a state adoption state, meaning curriculum must appear on a state-approved list before districts can purchase it with state funds. Utah maintains a state-level adoption system for core instructional materials in designated subject areas, though districts retain some flexibility in supplementary materials and implementation.
Purchasing Process
Utah operates a state adoption list for core subjects (English Language Arts, Mathematics, Science, Social Studies) managed by the Utah State Board of Education. Districts may select from the approved state list or request waiver approval for alternative materials.
Decision Level
The Utah State Board of Education establishes the state adoption list and manages the adoption cycle, but individual school districts make final selection decisions from the approved list for their schools.
Textbook Adoption Cycle
6 years
2030
English Language Arts, Mathematics, Science, Social Studies (on rotating basis)
Utah follows a six-year rotating adoption cycle. Not all subjects are up for adoption in the same year. Vendors should align submissions with subject-specific adoption windows announced by USBE.
Cooperative Purchasing Options
Curriculum That Meets Utah's Financial Literacy Standards
Districts looking for a standards-aligned financial literacy curriculum can use iKnowFi Academy — a self-paced, online platform built on the Absorb LMS that maps directly to Utah's learning objectives. iKnowFi Academy covers 68 of 93 standards (73.1% coverage) across 10 courses.
Utah Standards Coverage
73.1%Aligned Courses
Borrowing Money
Establishing Credit
Financial Building Blocks
Financial Preparation and Recovery
Making Housing Decisions
Managing Your Debt
Managing Your Money
The Importance of Saving
Using Credit Cards
Your Financial Future
Utah's Financial Literacy Standards & iKnowFi Academy Alignment
All 93 standards — 68 covered by iKnowFi Academy.
| ID | Standard | Grade | iKnowFi Academy Course |
|---|---|---|---|
| GFL.1.1 | Explain how scarcity of financial resources affects rational economic choices. | 11-12 | Managing Your Money |
| GFL.1.1 | Apply economic reasoning skills to make informed personal financial decisions, including opportunity cost (tradeoffs) and their role in decision-making. | 11-12 | Managing Your Money |
| GFL.2.1 | Understand the benefits of personal financial planning on intra- and inter-personal relationships, such as less relational stress, less worry in times of economic uncertainty, self-reliance, wealth building, personal ownership, giving gifts and/or inheritance. | 11-12 | Managing Your Money |
| GFL.2.1 | Discuss the principles of financial management that promote individual financial stability, such as minimizing debt. | 11-12 | Managing Your Debt |
| GFL.2.1 | Evaluate the role of emotions, attitudes, and habits in making financial decisions. | 11-12 | Managing Your Money |
| GFL.2.1 | Understand how culture and values influence financial decisions and goals. | 11-12 | Managing Your Money |
| GFL.2.2 | Recognize that individuals are responsible for their own financial decisions and for subsequent positive and negative consequences. | 11-12 | Managing Your Money |
| GFL.2.2 | Describe cost-benefit analysis as a rational decision-making process. | 11-12 | Managing Your Money |
| GFL.5.1 | Define the elements of a financial plan and describe the benefits of financial planning. | 11-12 | Financial Building Blocks |
| GFL.5.1 | Identify short- and long-term financial goals and the impact they have on one's financial plan. | 11-12 | Managing Your Money |
| GFL.1.1 | Describe the role different participants play in the economy, such as households, businesses, government. | 11-12 | — |
| GFL.1.1 | Define gross domestic product (GDP) and explain why it is important. | 11-12 | — |
| GFL.1.1 | Define inflation and explain its impact on economic and financial choices. | 11-12 | — |
| GFL.1.1 | Compare and contrast: expansion, recession, and depression. | 11-12 | — |
| GFL.1.1 | Discuss the role of the federal government in fiscal policy and the role of the federal reserve in monetary policy. | 11-12 | — |
| GFL.1.1 | Explain the law of supply and demand. | 11-12 | — |
| GFL.1.1 | Analyze how the larger economy develops from individual participants' rational economic choices. | 11-12 | — |
| GFL.1.1 | Define factors of production, resources, macroeconomics, and microeconomics. | 11-12 | — |
| GFL.1.2 | Understand the different ideologies behind economic systems, including: Capitalism, Laissez-Faire, Social Market, Neo-Capitalism, Socialism, Fascism, and Communism. | 11-12 | — |
| GFL.1.2 | Discuss historic and current examples of traditional, market, command, and mixed economic systems and their effects on economic growth. | 11-12 | — |
| GFL.1.2 | Discuss how free market systems and property rights correlate with economic prosperity. | 11-12 | — |
| ID | Standard | Grade | iKnowFi Academy Course |
|---|---|---|---|
| GFL.3.1 | Evaluate and compare career opportunities based on individual interests, skills and educational requirements, the value of work to the market, and income potential. | 11-12 | Your Financial Future |
| GFL.3.2 | Recognize and explore the correlation between education, training, and potential lifetime income. | 11-12 | Your Financial Future |
| GFL.3.2 | Discuss types of post-secondary training available to students and scholarship/grant opportunities. | 11-12 | Your Financial Future |
| GFL.3.2 | Calculate the costs of post-secondary training options and analyze the return on investment (ROI) based on career choices. | 11-12 | Your Financial Future |
| GFL.3.2 | Understand the cost differences between public and private and between nonprofit and for-profit higher education and/or professional training. | 11-12 | Your Financial Future |
| GFL.5.4 | Identify sources of funding to assist in post-high school education opportunities and the cost of repayment, including scholarships, grants, loans, savings, tuition reimbursement, work study, and gifts. | 11-12 | Your Financial Future |
| GFL.3.1 | Compare the risks and rewards of entrepreneurship/self-employment. | 11-12 | — |
| GFL.3.2 | Identify components to be included on a resume and/or electronic professional profile, such as appropriate contact information, experience [educational, work, and volunteer], skills, certificates obtained, accomplishments, interests, and references. | 11-12 | — |
| GFL.3.2 | Identify sources and strategies for finding employment, as well as the benefits of networking. | 11-12 | — |
| GFL.3.2 | Identify soft skills [communication, teamwork, time management, problem-solving, punctuality] that increase employability, retention, and earning power. | 11-12 | — |
| GFL.5.4 | Understand the use and advantages of 529 plans and the benefit of planning early to pay for the cost of post-secondary education and training. | 11-12 | — |
| GFL.5.4 | Understand the financial benefits of pursuing higher education opportunities while in high school. | 11-12 | — |
| GFL.5.4 | Understand the process for and benefits of FAFSA completion. [Seek guidance from school counselors/college awareness counselors.] | 11-12 | — |
| ID | Standard | Grade | iKnowFi Academy Course |
|---|---|---|---|
| GFL.5.2 | Discuss the purpose and role of credit. Explain the value of building and maintaining a healthy credit rating, including elements of creditworthiness: character, capacity, capital, collateral, and conditions. | 11-12 | Establishing Credit |
| GFL.5.2 | Explore and discuss the pros and cons of basic types of credit, including unsecured vs. secured credit, credit cards, installment loans, revolving credit, student loans, mortgage, and payday/predatory lenders. Evaluate the costs and risks of each type. | 11-12 | Borrowing Money |
| GFL.5.2 | Define and understand the terms associated with credit, including APR, grace period, late fees, finance charges, default rates, interest, and closing costs. | 11-12 | Using Credit Cards |
| GFL.5.2 | Explain the purpose of co-signers and collateral when applying for a loan. | 11-12 | Borrowing Money |
| GFL.5.2 | Understand and demonstrate simple interest calculations. | 11-12 | Borrowing Money |
| GFL.5.2 | Calculate how long it takes to repay debt by making minimum payments on installment loans or revolving accounts. | 11-12 | Managing Your Debt |
| GFL.5.2 | Describe the personal and societal effects of bankruptcy and identify circumstances that lead to bankruptcy, such as uninsured medical costs, family break-up, divorce, or loss of job. | 11-12 | Managing Your Debt |
| GFL.5.3 | Identify the three major credit bureaus. | 11-12 | Establishing Credit |
| GFL.5.3 | Evaluate and identify components of a credit report, including derogatory remarks, and the warning signs of credit abuse, such as late fees, missed payments, collection notices, and bounced checks. | 11-12 | Establishing Credit |
| GFL.5.3 | Evaluate the impact a credit score has on personal finance. | 11-12 | Establishing Credit |
| GFL.5.3 | Understand the legal right to a free annual credit report (AnnualCreditReport.com). | 11-12 | Establishing Credit |
| GFL.5.4 | Understand the similarities and differences between principal and interest on an amortization schedule. | 11-12 | Borrowing Money |
| GFL.5.5 | Discuss the negative impacts of predatory lending practices and explore: title loans, payday loans, and pawn loans. | 11-12 | Borrowing Money |
| ID | Standard | Grade | iKnowFi Academy Course |
|---|---|---|---|
| GFL.2.2 | Understand the differences between saving, investing, speculation, and gambling. | 11-12 | The Importance of Saving |
| GFL.4.2 | Explain how paying yourself first (PYF) early and often influences positive progress toward long-term financial goals. | 11-12 | The Importance of Saving |
| GFL.4.2 | Identify and understand basic saving options, such as savings accounts and Certificates of Deposit. | 11-12 | The Importance of Saving |
| GFL.4.2 | Understand that savings are designed to preserve principal. | 11-12 | The Importance of Saving |
| GFL.4.3 | Identify and understand investment options, including retirement planning, long and short-term investments, and dividend reinvestment plans. | 11-12 | Your Financial Future |
| GFL.4.3 | Compare and contrast the basic types of investment products, including stocks, mutual funds, real estate, commodities, collectibles, and bonds. | 11-12 | Your Financial Future |
| GFL.4.3 | Discuss the reasons to invest, the fees associated with investing, and strategies to reduce fees. | 11-12 | Your Financial Future |
| GFL.4.3 | Discuss the relationship between risk and return. | 11-12 | Your Financial Future |
| GFL.4.3 | Demonstrate the time value of money using a compound interest calculator. | 11-12 | The Importance of Saving |
| GFL.4.2 | Discuss how over-savings can be eroded by inflation. | 11-12 | — |
| ID | Standard | Grade | iKnowFi Academy Course |
|---|---|---|---|
| GFL.2.1 | Discuss examples as well as the pros and cons of charitable giving, such as assistance to those in need, tax benefits, religious worship, excess production. | 11-12 | Financial Building Blocks |
| GFL.2.2 | Compare instant satisfaction with delayed gratification, such as impulse buying versus planned expenditures. | 11-12 | Managing Your Money |
| GFL.5.1 | Develop a budget that includes the following categories: spending/debt, savings, investing, charitable contributions (such as the 70-20-10 rule). | 11-12 | Financial Building Blocks |
| GFL.5.1 | Define fixed, variable, and periodic budget categories. | 11-12 | Financial Building Blocks |
| GFL.5.1 | Emphasize the importance of a goals-based budget, including priorities, such as pay yourself first, emergency/opportunity fund, insurance, and charitable or other voluntary contributions. | 11-12 | The Importance of Saving |
| GFL.5.1 | Compare tools for tracking a budget, income, and expenditures, such as paper and digital tracking. | 11-12 | Financial Building Blocks |
| GFL.5.4 | Identify the process, rights, and responsibilities related to renting, leasing, and purchasing a home. | 11-12 | Making Housing Decisions |
| GFL.5.4 | Understand the primary homeownership qualification factors, such as debt-to-income and loan-to-value ratios, and the roles of the professionals involved in the home-buying process. | 11-12 | Making Housing Decisions |
| GFL.5.4 | Compare the pros and cons of buying or leasing a new or used vehicle, and identify the costs associated with each option. | 11-12 | Borrowing Money |
| ID | Standard | Grade | iKnowFi Academy Course |
|---|---|---|---|
| GFL.2.1 | Give examples of how marketing strategies, social media, and social pressure can influence purchasing decisions. | 11-12 | Managing Your Money |
| GFL.2.1 | Emphasize the importance of comparison shopping, buying strategies, and negotiation in purchasing. | 11-12 | Borrowing Money |
| GFL.5.5 | Understand financial contracts tied to consumer purchases, such as cell phone, subscription fees, and membership fees. | 11-12 | Managing Your Money |
| GFL.5.5 | Identify ways to avoid identity theft and fraud, including securing sensitive financial data, using care when participating in online commerce, avoiding phishing and pharming, and properly disposing of sensitive documents. | 11-12 | Financial Preparation and Recovery |
| GFL.5.5 | Understand the challenges and responsibilities of those who are victims of fraud or identity theft. | 11-12 | Financial Preparation and Recovery |
| GFL.5.5 | Discuss common financial scams and schemes and ways to avoid them. | 11-12 | Financial Preparation and Recovery |
| GFL.5.5 | Identify the pros and cons of online commerce, including how to conduct transactions safely, such as using credit cards versus debit cards for online purchases. | 11-12 | Using Credit Cards |
| GFL.5.5 | Understand the role of the government in protecting the consumer and explain the features of consumer protection laws. | 11-12 | Financial Preparation and Recovery |
| GFL.5.5 | Identify federal and state entities that exist to protect consumers from forms of fraud and abuse. | 11-12 | — |
| ID | Standard | Grade | iKnowFi Academy Course |
|---|---|---|---|
| GFL.3.1 | Identify sources of income, such as salary, wages, commissions, and tips. | 11-12 | Financial Building Blocks |
| GFL.3.1 | Understand the effects of FICA (Social Security and Medicare), state, local, and federal taxes and voluntary deductions on wages and income, and the similarities and differences between wages and income. | 11-12 | Financial Building Blocks |
| GFL.3.1 | Contrast the differences between gross income, net income, and taxable income. | 11-12 | Financial Building Blocks |
| GFL.3.1 | Understand the effects of state (Form TC-40) and federal (Form 1040) taxes and the requirement to file, including income, filing status and dependency tax law, and adjustments. | 11-12 | Financial Preparation and Recovery |
| GFL.3.1 | Understand basic employment forms and processes, including W-2, W-4, and I-9. | 11-12 | Financial Building Blocks |
| GFL.3.1 | Compare income to the cost-of-living in various geographical areas and the impact it has on purchasing power. | 11-12 | — |
| ID | Standard | Grade | iKnowFi Academy Course |
|---|---|---|---|
| GFL.4.4 | Discuss risk management strategies, including acceptance, transfer, and reduction. | 11-12 | Financial Preparation and Recovery |
| GFL.4.4 | Discuss the purposes of insurance/risk management. | 11-12 | Financial Preparation and Recovery |
| GFL.4.4 | Define common insurance products and their purposes, such as automobile, health, homeowner/renter, whole/term life, and disability. | 11-12 | Financial Preparation and Recovery |
| GFL.4.4 | Define terms of a basic insurance policy, such as contract, limits of coverage, premium, deductible, grace period, and lifetime limit. | 11-12 | — |
| GFL.4.4 | Discuss insurance needs at different stages of life. | 11-12 | — |
| GFL.4.4 | Understand the identification and designation of beneficiaries. | 11-12 | — |
| ID | Standard | Grade | iKnowFi Academy Course |
|---|---|---|---|
| GFL.4.1 | Explain the role of the Federal Deposit Insurance Corporation (FDIC) and the National Credit Union Association (NCUA). | 11-12 | Managing Your Money |
| GFL.4.1 | Compare the roles of financial institutions and their services, such as banks and credit unions, and the importance of banking. | 11-12 | Managing Your Money |
| GFL.4.1 | Demonstrate how to monitor and manage checking/debit and saving accounts. | 11-12 | Managing Your Money |
| GFL.4.1 | Describe available consumer banking technologies, such as online deposits, bill pay, and peer-to-peer transfers. | 11-12 | Managing Your Money |
| GFL.4.1 | Explain the potential consequences of checking account mismanagement, such as non-sufficient funds (NSF) handling and overdraft processing. | 11-12 | — |
| ID | Standard | Grade | iKnowFi Academy Course |
|---|---|---|---|
| GFL.4.3 | Identify types of long-term retirement accounts, such as IRA, Roth IRA, 401(k), and Roth 401(k). | 11-12 | Your Financial Future |
Utah Financial Literacy FAQ
Utah integrates financial literacy into existing courses rather than requiring a standalone class.
Utah requires financial literacy instruction to be integrated throughout the K-12 curriculum, particularly in social studies and mathematics courses. Students must demonstrate competency in personal finance topics including budgeting, saving, credit, and investing.
Utah's financial literacy requirements are established by SB 154 (2003 Utah Chapter 315), SB 61 (2008) and SB 40 (2014).
Required the State Board of Education to establish graduation requirements including instruction in general financial literacy, making Utah the first state in the nation to legislate a financial literacy graduation mandate; implemented as a one-semester General Financial Literacy course required for all graduates beginning with the class of 2008. Expanded financial and economic education to grades K-12 by requiring integration into core curriculum areas of Math, Social Studies, and Language Arts; introduced the Financial and Economic Education Passport concept (later removed in 2019). Strengthened the financial literacy mandate by requiring students to pass an online end-of-course general financial literacy exam and requiring instructors to obtain a General Financial Literacy endorsement to teach the course; allocated $450,000 for implementation.
Utah's financial literacy standards apply to grades K-5, 6-8, 9-12. Standards are integrated into existing coursework.
Utah has 93 financial literacy standards spanning 10 topic areas including Credit & Debt Management, Financial Planning & Goal Setting, Budgeting & Money Management, Saving & Investing, Consumer Skills & Protection.
Utah's 93 standards are organized across 10 topics: Credit & Debt Management, Financial Planning & Goal Setting, Budgeting & Money Management, Saving & Investing, Consumer Skills & Protection, Education & Career Planning, Income & Taxes, Banking & Financial Services, Insurance & Risk Management, Retirement & Estate Planning.
Utah uses a state adoption process. Districts select from a state-approved vendor list.
Utah operates a state adoption list for core subjects (English Language Arts, Mathematics, Science, Social Studies) managed by the Utah State Board of Education. Districts may select from the approved state list or request waiver approval for alternative materials.
iKnowFi Academy covers 68 of Utah's 93 financial literacy standards (73% coverage) across 10 self-paced online courses.
Each course is aligned to Utah's specific learning objectives, built on the Absorb LMS, and includes built-in assessments. Teachers assign them and students work independently.
Utah's next curriculum review is scheduled for 2030 on a 6-year cycle.
Utah follows a six-year rotating adoption cycle. Not all subjects are up for adoption in the same year. Vendors should align submissions with subject-specific adoption windows announced by USBE.
Get Your Free Utah Standards Alignment Report
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- 68 of 93 standards covered
- 10 self-paced courses, ready to assign
- Built-in assessments and progress tracking
- No schedule changes needed — students work independently
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