New Florida law: Financial literacy for graduation. For kids who enter high school in 2023-24, a class many, many of us wish we had taken! Oh, wait. we didn’t have that – Financial literacy.
Pretty simple really. Help students with financial management skills for when they hit the real world. When I was a waiter in college, what I made was what I spent, like most of my friends. But, unlike some, I had a 2nd job. My dad taught me about “Multiple streams of Income.” He suggested using other streams (no matter how small) for savings, emergencies, and or long term goals. He never said the word financial management. He just said, “that’s the money you don’t spend”.
This new bill will help school kids with that and more. I taught my daughters to do their own taxes when they got jobs. Because, they didn’t have that in school either. Hopefully, now they will. Along with courses on bank accounts, credit scores, interest, savings, and investments. Here’s a sample questions using my lunch for today: How can this lunch save us up to $1,600 a year, or $5,000 for a car down payment?
One simple half credit course in personal financial literacy and money management sure could have saved many of us a lot of headaches, right? financial literacy for graduation, and for life ; ) State Chief Financial Officer Jimmy Patronis gives the bill some love in a statement: “Financial literacy is an important key to a strong financial future, and I’m proud that learning the basics of credit, budgeting, savings and investing will now be taught throughout Florida’s schools.”