Chris O'Shea
Kids are finally learning about money in school. Financial literacy matters a lot. And thankfully, kids are getting more and more access to this essential concept.
Rise in Financial Education in Schools
For many, many years, the concept of financial literacy and personal finance was absent from our nation’s schools. The shift in financial literacy is due to states finally pushing bills that mandate financial education courses. Here’s a breakdown of the growth in school programs:
Financial Literacy Statistics
In 2018, just 16 percent of graduating high schoolers had taken a financial education course. Now, there are:
- 8 states with the money-education mandate
- 4 more states have passed bills that will push the courses through in the next couple of years.
That means by next year, about 32 percent of graduating high schoolers will have taken a financial education course. The same report estimated that by 2030, that percentage should hit 100 percent.
Impact of Financial Literacy Programs
The increase in financial education is encouraging because it can help young people make smart money decisions as they get older. In one report, young people who received financial education courses were less likely to carry debt and less likely to be delinquent in payments as adults.
Do One Thing: Encourage your kids to take financial literacy classes seriously. They can be extremely helpful.
Jean Chatzky
