This is the first smart thing California has done for education in years. Why isn’t this already done everywhere?
FOX News reports:
California to add personal finance course as requirement to graduate high schoolCalifornia high school students will soon be required to take a financial literacy course to graduate, thanks to a bill slated to be signed by Gov. Gavin Newsom soon.AB 2927, sponsored by Democratic State Rep. Kevin McCarty and co-authored by a league of bipartisan lawmakers, requires students graduating in the class of 2030-2031 to take a semester-long personal finance course, meaning public high schools and charter schools will be required to offer the course beginning in the 2027-2028 school year.”We need to help Californians prepare for their financial futures as early as possible. Saving for the future, making investments, and spending wisely are lifelong skills that young adults need to learn before they start their careers, not after,” Newsom said of the effort, per a press release from the Golden State’s official website.The release indicated that Newsom, along with Senate President pro Tempore Mike McGuire, Assembly Speaker Robert Rivas and NGPF Mission 2030 – a national financial literacy nonprofit – agreed to make the content a requirement for high school graduates in the near future.McCarty, commenting on the bill’s success, said he is “thrilled” to know the legislation will be signed into law.”I’m proud to be the lead author on this important policy and help students make smart money decisions that will benefit them throughout their adult lives. I want to thank Next Gen Personal Finance, Governor Newsom, Speaker Rivas, and Senate President pro Tempore McGuire, for their leadership in making this happen,” he said, per ABC 10 in Sacramento.This comes as some findings, including data from a recent WalletHub survey, indicate Gen Z is the least financially confident generation, with 28% expressing a lack of confidence in their ability to manage money, along with a lack of budgeting and a skeptical attitude toward the possibility of homeownership at some point in their lives.
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