Wisconsin integrates financial literacy into existing courses rather than requiring a standalone class. The state has 111 financial literacy standards across 8 topic areas that are embedded within subjects like economics and social studies.

Last updated: March 2026

111 Standards
8 Topic Areas
integrated Mandate Status
6-8, 9-12 Grade Levels

Does Wisconsin Require Financial Literacy Education?

Yes, through integration. Wisconsin requires financial literacy concepts to be taught within existing courses rather than as a standalone class. Wisconsin requires financial literacy content integrated into social studies and business education standards at secondary level. No standalone financial literacy course mandate, but standards require consumer economics and personal finance instruction.

Mandate Details

Status
integrated
Standalone Course
No
Grade Levels
6-8, 9-12
Legislation
2017 Wisconsin Act 94 (Assembly Bill 280) (2017)
2023 Wisconsin Act 60 (Assembly Bill 109) (2023-12-06 (signed by Governor Evers; first applies to class of 2028))

Key Agencies

Wisconsin Department of Public Instruction (DPI)
Sets academic standards and curriculum frameworks; provides guidance to districts on instructional materials
CESA (Cooperative Educational Service Agencies)
Provides regional procurement support and cooperative purchasing services to member districts
Wisconsin Association of School Administrators (WASA)
Supports district procurement practices and cooperative purchasing agreements
Wisconsin Association of School Business Officials
Professional development and support for district procurement officers
What this means for districts: Teachers need resources that address financial literacy objectives within their existing courses. A standards-aligned supplement can help ensure coverage without requiring schedule changes.

What Are Wisconsin's Financial Literacy Standards?

Wisconsin has 111 financial literacy standards organized across 8 topic areas. These topics range from Saving & Investing and Credit & Debt Management to Income & Taxes, covering the full spectrum of personal finance education.

28 standards
Saving & Investing
25 covered 3 gaps
21 standards
Credit & Debt Management
21 covered
14 standards
Insurance & Risk Management
7 covered 7 gaps
11 standards
Consumer Skills & Protection
10 covered 1 gap
12 standards
Budgeting & Money Management
10 covered 2 gaps
8 standards
Education & Career Planning
4 covered 4 gaps
7 standards
Banking & Financial Services
6 covered 1 gap
7 standards
Income & Taxes
7 covered

How Wisconsin School Districts Adopt Financial Literacy Curriculum

Wisconsin is an open territory state, meaning individual districts have the authority to select and purchase curriculum directly without state-level approval. Wisconsin does not have a mandatory state adoption list. Districts have autonomy to select educational materials based on their needs.

Purchasing Process

Individual school districts make purchasing decisions through their own RFP processes or direct procurement. Wisconsin does allow participation in cooperative purchasing agreements.

Decision Level

School districts independently evaluate and adopt educational materials. State provides guidance and standards but does not mandate specific products.

Cooperative Purchasing Options

CESA (Cooperative Educational Service Agencies) - regional purchasing consortiums Wisconsin Association of School Administrators (WASA) cooperative purchasing National Cooperative purchasing programs available to Wisconsin districts (e.g., OMNIA Partners, Sourcewell)

Curriculum That Meets Wisconsin'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 Wisconsin's learning objectives. iKnowFi Academy covers 92 of 111 standards (82.9% coverage) across 9 courses.

Wisconsin Standards Coverage

82.9%
92 of 111 standards covered 9 courses

Aligned Courses

Borrowing Money

3 modules · 6 standards aligned

Establishing Credit

3 modules · 5 standards aligned

Financial Building Blocks

2 modules · 4 standards aligned

Financial Preparation and Recovery

4 modules · 19 standards aligned

Managing Your Debt

3 modules · 9 standards aligned

Managing Your Money

3 modules · 14 standards aligned

The Importance of Saving

3 modules · 11 standards aligned

Using Credit Cards

2 modules · 3 standards aligned

Your Financial Future

4 modules · 21 standards aligned

Wisconsin's Financial Literacy Standards & iKnowFi Academy Alignment

All 111 standards — 92 covered by iKnowFi Academy.

Saving & Investing 25/28 covered
ID Standard Grade iKnowFi Academy Course
PFL.FM2 Distinguish how an investment plan that incorporates a goal development strategy reflects various life factors (e.g., age, personal values, income, liabilities, assets, goals, family size, risk tolerance, or net worth). 9-12 Your Financial Future
PFL.SI1 Demonstrate how to manage savings accounts- both manually and electronically, including reconciliation. 9-12 The Importance of Saving
PFL.SI1 Determine the opportunity cost in relation to a saving plan (e.g., inflation or taxes). 9-12 The Importance of Saving
PFL.SI1 Compare and contrast the benefits of pay yourself first and living paycheck to paycheck strategies on financial outcomes. 9-12 The Importance of Saving
PFL.SI1 Compare and contrast characteristics of basic savings options (e.g., savings accounts, money market accounts, or certificates of deposit). 9-12 The Importance of Saving
PFL.SI1 Determine the best options to achieve specific short- and long-term personal saving goals. 9-12 The Importance of Saving
PFL.SI1 Compare and contrast financial services and products to achieve personal saving goals. 9-12 The Importance of Saving
PFL.SI1 Compare and contrast the opportunity cost and reward of basic saving options (e.g., savings accounts, money market accounts, or certificates of deposit). 9-12 The Importance of Saving
PFL.SI1 Evaluate the effect of compound interest on savings options. 9-12 The Importance of Saving
PFL.SI2 Explain the role of revenue generating assets in building net worth (e.g., real estate or entrepreneurship). 9-12 Your Financial Future
PFL.SI2 Evaluate the effect of compounding earned interest on investments. 9-12 The Importance of Saving
PFL.SI2 Compute time value of money (TVM) principles (e.g., compound interest or Rule of 72). 9-12 The Importance of Saving
PFL.SI2 Describe a range of investment vehicles (short-term and long-term) for buying and selling investments. 9-12 Your Financial Future
PFL.SI2 Explain the concept of asset allocation, associated fees, and their effect on the rate of return. 9-12 Your Financial Future
PFL.SI2 Differentiate between different types of long-term retirement investments [e.g., IRA, Roth IRA, 401(k), or 403(b)]. 9-12 Your Financial Future
PFL.SI2 Create personal criteria for investment planning. 9-12 Your Financial Future
PFL.SI2 Analyze financial investment services according to personal criteria for investment planning. 9-12 Your Financial Future
PFL.SI2 Assess various means of building net worth. 9-12 Your Financial Future
PFL.SI2 Justify how paying yourself first early and often influences positive progress toward long-term financial planning goals. 9-12 The Importance of Saving
PFL.SI2 Evaluate factors that influence financial investment planning (e.g., age, income, liabilities, assets, goals, family size, or risk tolerance). 9-12 Your Financial Future
PFL.SI2 Develop an investment plan to meet individual short- and long-term financial investment goals. 9-12 Your Financial Future
PFL.SI2 Compare the risk, return, and liquidity of various investment alternatives contrasting a range of short-term and long-term investment strategies. 9-12 Your Financial Future
PFL.SI2 Assess the long-term investment potential associated with the stock market, focusing on fundamentals such as diversification, risk-reward, dollar cost averaging, and investor behavior. 9-12 Your Financial Future
PFL.SI2 Compare and contrast the advantages of taxable, tax deferred and tax-advantaged investments for new savers, including Roth IRAs and employer-sponsored retirement vehicles. 9-12 Your Financial Future
PFL.SI2 Assess fiduciary responsibilities and due diligence of financial professionals. 9-12 Your Financial Future
PFL.SI2 Evaluate the reliability and trustworthiness of digital investment banking. 9-12 —
PFL.SI2 Identify financial risks, including inflation, deflation, and recession. 9-12 —
PFL.SI2 Determine information, assistance, and protection that individual investors can receive (e.g., Securities and Exchange Commission, Financial Industry Regulatory Authority, Consumer Financial Protection Bureau, or State Securities Administrators). 9-12 —
Credit & Debt Management 21/21 covered
ID Standard Grade iKnowFi Academy Course
PFL.CD1 Analyze uses of credit that provide financial and personal benefits. 9-12 Using Credit Cards
PFL.CD1 Predict why someone would make a purchase using credit instead of cash. 9-12 Managing Your Money
PFL.CD1 Assess the total cost of incurring a loan (e.g., various rates of interest, loan origination fee, early payback, or length of term). 9-12 Borrowing Money
PFL.CD1 Evaluate options for payment on credit cards and the consequences of each option. 9-12 Using Credit Cards
PFL.CD1 Compare different debt payment methods. 9-12 Managing Your Debt
PFL.CD1 Calculate the total cost of repaying a loan under various rates of interest and over different time periods. 9-12 Borrowing Money
PFL.CD1 Examine services that consumer credit counseling agencies offer. 9-12 Managing Your Debt
PFL.CD1 Investigate the purpose and types of bankruptcy, including its possible negative effects on assets, employability, credit availability, cost of credit, and lenders. 9-12 Managing Your Debt
PFL.CD1 Explore strategies that may be used to avoid bankruptcy and what debt may not be discharged through bankruptcy. 9-12 Managing Your Debt
PFL.CD1 Investigate common life situations that lead to financial difficulty and bankruptcy. 9-12 Managing Your Debt
PFL.CD1 Evaluate the methods that debt collectors take in recovering collateral from borrowers. 9-12 Managing Your Debt
PFL.CD2 Analyze the impact of using a credit card versus debit card as it relates to money management. 9-12 Managing Your Money
PFL.CD2 Compare various types of student loans, repayment options, and alternatives of paying for post-secondary education or training. 9-12 Managing Your Debt
PFL.CD2 Differentiate between adjustable- and fixed-rate debt. 9-12 Borrowing Money
PFL.CD2 Analyze the effect of debt on a person's net worth. 9-12 Your Financial Future
PFL.CD2 Calculate the most cost-effective option for paying for transportation. 9-12 Borrowing Money
PFL.CD2 Compare and contrast advantages, disadvantages, and risks of high-cost alternative lending products and practices (e.g., refund anticipation loan, payday lending, or rent-to-own). 9-12 Borrowing Money
PFL.CD2 Differentiate between short-term and long-term characteristics of a rapid access loan, peer-to-peer loan, and financial institution loan. 9-12 Borrowing Money
PFL.CD2 Compile examples of permissible uses of credit reports other than granting credit. 9-12 Establishing Credit
PFL.CD2 Compose information on the primary organizations that maintain and provide consumer credit records. 9-12 Establishing Credit
PFL.CD2 Analyze factors affecting a credit score and creditworthiness. 9-12 Establishing Credit
Insurance & Risk Management 7/14 covered
ID Standard Grade iKnowFi Academy Course
PFL.RMI1 Analyze the financial cost of taking a risk versus outsourcing the risk (e.g., contract for services, insurance, or utilization of technology). 9-12 Financial Preparation and Recovery
PFL.RMI1 Evaluate examples of personal financial decisions that prevent consumers from acquiring necessary goods and services (e.g., ability to acquire with cash or credit based upon credit score). 9-12 Establishing Credit
PFL.RMI2 Evaluate why some types of insurance are required by law. 9-12 Financial Preparation and Recovery
PFL.RMI2 Compare the different types of insurance and the level of protection they provide including options provided by a person, an employer, and the government. 9-12 Financial Preparation and Recovery
PFL.RMI2 Analyze insurance coverage needs that can increase or decrease insurance costs. 9-12 Financial Preparation and Recovery
PFL.RMI2 Examine the conditions under which it is appropriate and necessary for young adults to have life, auto, health, and disability insurance. 9-12 Financial Preparation and Recovery
PFL.RMI2 Evaluate insurance professionals and companies to determine whether they meet different insurance needs. 9-12 Financial Preparation and Recovery
PFL.RMI1 Determine different perceptions of risk based on age, culture, and social status. 9-12 —
PFL.RMI2 Summarize insurance and the amount of coverage mandated by various government regulations. 9-12 —
PFL.RMI2 Compare insurance policies, rates, premiums, and deductibles to minimize costs. 9-12 —
PFL.RMI2 Determine when and why insurance contracts are used. 9-12 —
PFL.RMI2 Evaluate the components of insurance contracts and their common terms and conditions. 9-12 —
PFL.RMI2 Interpret the responsibilities and rights provided by common insurance contracts. 9-12 —
PFL.RMI2 Predict what happens when someone underestimates, or overestimates a protection level, and justify an appropriate level of insurance coverage. 9-12 —
Consumer Skills & Protection 10/11 covered
ID Standard Grade iKnowFi Academy Course
PFL.FM1 Summarize consumer rights, responsibilities, protections and consumer vigilance (e.g., contesting incorrect billing or registering a consumer complaint). 9-12 Financial Preparation and Recovery
PFL.FM1 Analyze and apply multiple sources of information when making consumer decisions (e.g., advertisements, reviews, interest rates, applicable fees, consumer movements, or choice). 9-12 Using Credit Cards
PFL.FM1 Analyze the financial impact of advertising including techniques, potential for deception along with the influence of promotions, packaging, and placement. 9-12 Managing Your Money
PFL.FM3 Choose an effective means to manage and protect passwords for multiple online accounts. 9-12 Financial Preparation and Recovery
PFL.FM3 Develop strategies to guard against and respond to malicious threats including viruses, phishing, and identity theft, and recognize the importance of security protocols. 9-12 Financial Preparation and Recovery
PFL.FM3 Research ways online transactions, online banking, email scams, and telemarketing calls can make a person vulnerable to identity theft. 9-12 Financial Preparation and Recovery
PFL.FM3 Assess actions and data as beneficial or detrimental to a financial digital footprint. 9-12 Financial Preparation and Recovery
PFL.FM3 Strategize ways to optimize a financial digital footprint. 9-12 Financial Preparation and Recovery
PFL.CD2 Explain the rights and responsibilities of buyers and sellers under the Fair Debt Collection Practice Act consumer protection laws. 9-12 Managing Your Debt
PFL.CD2 Explain the rights that people have to review and resolve credit score discrepancies under the Fair Credit Reporting Act. 9-12 Establishing Credit
PFL.FM3 Appraise a user agreement for common financial websites and applications. 9-12 —
Budgeting & Money Management 10/12 covered
ID Standard Grade iKnowFi Academy Course
PFL.FM1 Evaluate the functions and value of money in the United States (e.g., how the value is based upon the strength and credit of the government/issuing body). 9-12 Managing Your Money
PFL.FM1 Perform a cost-benefit analysis on a real-world situation. 9-12 Managing Your Money
PFL.FM2 Assess the impact of individual values and behaviors on financial decisions and goals. 9-12 Managing Your Money
PFL.FM2 Evaluate strategies individuals use to manage emotions impacting financial decisions. 9-12 Managing Your Money
PFL.FM2 Critique a financial plan and identify areas that may have been influenced by external sources. 9-12 Managing Your Money
PFL.MM1 Prepare a budget or spending plan that depicts varying sources of income, a planned saving strategy, taxes, and other sources of fixed and variable spending. 9-12 Financial Building Blocks
PFL.MM1 Develop and critique short-term and long-term personal financial plans. 9-12 Financial Building Blocks
PFL.MM1 Evaluate circumstances when an individual may want to grant representation or consult for financial advice with a financial advisor, attorney, tax advisor, or financial planner. 9-12 Financial Preparation and Recovery
PFL.MM1 Summarize factors to consider when seeking financial advice and services. 9-12 Your Financial Future
PFL.CD1 Examine how consumers apply financial coaching to various situations. 9-12 Financial Preparation and Recovery
PFL.FM1 Identify the function of the foreign exchange market to establish a relative value of different currencies and the process that changes in currency values may have on purchasing power in relationship to the cost of goods and services in a global marketplace. 9-12 —
PFL.FM2 Describe how to incorporate philanthropic opportunities into personal financial goals. 9-12 —
Education & Career Planning 4/8 covered
ID Standard Grade iKnowFi Academy Course
PFL.EE1 Create a career development plan relative to personal interests, aptitudes, and potential earnings. 9-12 Your Financial Future
PFL.EE1 Explain how career development goals fit with personal skills and attributes, current activities, and postsecondary plan. 9-12 Your Financial Future
PFL.EE2 Assess how people's willingness and ability to plan for the future affects their decision to increase their education or job training in a dynamic and changing labor market. 9-12 Your Financial Future
PFL.EE2 Evaluate the return on investment of the preparation requirements for different career pathways. 9-12 Your Financial Future
PFL.EE1 Prioritize potential occupations based upon the results of a career assessment or interest inventory. 9-12 —
PFL.EE2 Compare the employment rates of workers with different skills. 9-12 —
PFL.EE2 Research and identify a job or field that may be high demand in the future based on emerging technologies. 9-12 —
PFL.EE2 Assess employment trends and how those will impact future career paths. 9-12 —
Banking & Financial Services 6/7 covered
ID Standard Grade iKnowFi Academy Course
PFL.FM3 Evaluate benefits and costs of exclusively online banking. 9-12 Managing Your Money
PFL.MM2 Compare financial institutions and service providers (e.g., banks, credit unions, investment and brokerage firms, mortgage brokers, payday lenders, online financial institutions, or loan agencies). 9-12 Managing Your Money
PFL.MM2 Assess the advantages and disadvantages of digital banking (e.g., online banking, bill pay, transfers, or checking account transactions). 9-12 Managing Your Money
PFL.MM2 Compare online and mobile systems or applications used as a means of alternative currency. 9-12 Managing Your Money
PFL.SI1 Explain the impact of electronic funds transfer (EFT) services on savings accounts. 9-12 Managing Your Money
PFL.SI1 Explain the role that government agencies play in protecting deposits (e.g., Federal Deposit Insurance Corporation (FDIC), National Credit Union Administration (NCUA)). 9-12 Managing Your Money
PFL.MM2 Analyze the reasons for regulation and the roles of financial regulators [e.g., Federal Deposit Insurance Corporation (FDIC), National Credit Union Administration (NCUA), Consumer Finance Protection Bureau (CFPB), Federal Reserve, Office of the Comptroller of the Currency (OCC), or Wisconsin Department of Financial Institutions (WDFI), Wisconsin Office of the Commissioner of Insurance (WOCI), Wisconsin Department of Agriculture, Trade, and Consumer Protection (WDATCP)]. 9-12 —
Income & Taxes 7/7 covered
ID Standard Grade iKnowFi Academy Course
PFL.EE1 Evaluate a paycheck and how payroll taxes along with other deductions (e.g., insurance, retirement account, or flexible spending account for parking, childcare, and health) decrease net income. 9-12 Financial Building Blocks
PFL.EE1 Analyze the impact of tax liability on income including potential deductions and credits that will impact state and federal income tax. 9-12 Financial Preparation and Recovery
PFL.EE1 Evaluate types of taxes (e.g., progressive or regressive) and earned benefits with eligibility criteria (e.g., Social Security, Medicare, or Medicaid). 9-12 Financial Preparation and Recovery
PFL.EE1 Understand and follow the requirements of filing income taxes. 9-12 Financial Preparation and Recovery
PFL.EE1 Assess ways workers are compensated in different industries and sectors (i.e., fringe benefits, wages, pension plan, hourly or salaried). 9-12 Financial Building Blocks
PFL.MM1 Compare and contrast different sources of active and passive income, savings, and investment vehicles. 9-12 Your Financial Future
PFL.MM2 Summarize the tax and legal implications that require you to maintain personal records of significant financial transactions. 9-12 Financial Preparation and Recovery

Wisconsin Financial Literacy FAQ

Wisconsin integrates financial literacy into existing courses rather than requiring a standalone class.

Wisconsin requires financial literacy content integrated into social studies and business education standards at secondary level. No standalone financial literacy course mandate, but standards require consumer economics and personal finance instruction.

Wisconsin's financial literacy requirements are established by 2017 Wisconsin Act 94 (Assembly Bill 280) and 2023 Wisconsin Act 60 (Assembly Bill 109).

Required each school board to adopt academic standards for financial literacy and incorporate instruction in financial literacy into the K-12 curriculum, but did not require a standalone course or graduation credit. Requires at least one-half credit of personal financial literacy for high school graduation, covering financial mindset, education and employment, money management, saving and investing, credit and debt, and risk management and insurance.

Wisconsin's financial literacy standards apply to grades 6-8, 9-12. Standards are integrated into existing coursework.

Wisconsin has 111 financial literacy standards spanning 8 topic areas including Saving & Investing, Credit & Debt Management, Consumer Skills & Protection, Budgeting & Money Management, Income & Taxes.

Wisconsin's 111 standards are organized across 8 topics: Saving & Investing, Credit & Debt Management, Consumer Skills & Protection, Budgeting & Money Management, Income & Taxes, Insurance & Risk Management, Banking & Financial Services, Education & Career Planning.

Wisconsin is an open-territory state where individual districts purchase curriculum directly.

Individual school districts make purchasing decisions through their own RFP processes or direct procurement. Wisconsin does allow participation in cooperative purchasing agreements.

iKnowFi Academy covers 92 of Wisconsin's 111 financial literacy standards (83% coverage) across 9 self-paced online courses.

Each course is aligned to Wisconsin's specific learning objectives, built on the Absorb LMS, and includes built-in assessments. Teachers assign them and students work independently.

Get Your Free Wisconsin Standards Alignment Report

See exactly how iKnowFi Academy maps to each of Wisconsin's 111 financial literacy standards — standard by standard, module by module.

  • 92 of 111 standards covered
  • 9 self-paced courses, ready to assign
  • Built-in assessments and progress tracking
  • No schedule changes needed — students work independently

Ready to see the full alignment?

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Last updated: March 2026