25 states introduced personal finance bills this year
So far in 2021, 25 states in the United States have introduced legislation that would add personal finance education to their high school curriculum, according to Next Gen Personal Finance bill tracking. There has been an additional push for personal finance education in high schools across the country this year, in the wake of the coronavirus pandemic.
Bills in Arkansas, Hawaii and Nebraska were passed this year and enacted. Bills in four other states – Colorado, Nevada, Rhode Island and Texas – have passed and are awaiting signatures from governors. Seven states – Virginia, Alabama, Tennessee, Missouri, Utah, North Carolina, and Mississippi – have what Next Gen Personal Finance calls the gold standard of personal finance education: one Self-contained half-semester course that focuses solely on personal finance. Beyond that, some 21 states require personal finance training, but say it can be incorporated into another course.
Personal Finance Education in the United States If all of the bills proposed this year pass, Nebraska and Rhode Island would join the gold ranks. The Texas bill is near – it doesn’t require personal finance education to be a stand-alone course.
Learn more about Invest in You: How to Boost Your Credit Score and Get a Low Mortgage Rate Young Military Families Take Advantage of Veterans to Buy Homes Spending Post-Pandemic? Make those money moves’ In recent years I haven’t seen so much [bills] that were important and that reached the governor’s office, ”said Tim Ranzetta, founder of Next Gen Personal Finance, a nonprofit personal finance education organization.
The coronavirus pandemic has most certainly played a role in highlighting the importance of personal finance education, due to the economic impact it has had on the United States The impact of the pandemic
This reflects what happened a decade ago, after the financial crisis. The states that were the first to guarantee high school personal finance classes began their terms after the Great Recession, according to Ranzetta. “There is a feeling that some people are being left behind, and the pandemic has kind of exacerbated some of these structural issues,” Ranzetta said. “And while financial education is not the silver bullet, or the panacea for these problems, it is an important skill for young people to develop. Over the past year, closures to curb the spread of Covid-19 have led millions of Americans to lose their jobs or cut hours and incomes, straining household finances. Even if the United States reopens and vaccinations increase, it can take years for those hardest hit to recover, especially if they fell behind on bills and rent during the pandemic.
News Business Highlights
- 25 states introduced personal finance education bills this year
- Check out all the news and articles for business news updates.
Disclaimer: If you need to update / edit / delete this news or article, please contact our support team.