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18 states require personal finance education in schools—here's what they're teaching kids about money


Personal finance education is becoming increasingly important in today's world, where managing money has become an essential life skill. According to a recent survey, 43% of American adults struggle to pay bills and make ends meet, highlighting the need for financial literacy. In response, 18 states in the US have made personal finance education mandatory in their schools' curricula. Here's what they're teaching kids about money.

  1. Budgeting Budgeting is a crucial part of managing personal finances. Students learn how to create a budget, track their expenses, and save money for future goals. They also learn about the importance of living within their means and avoiding unnecessary debt.

  2. Banking Students learn about the different types of bank accounts, including checking and savings accounts, and how to use them. They learn how to deposit and withdraw money, write checks, and use online banking tools.

  3. Credit Students learn about credit scores, how they are calculated, and the impact they have on their financial future. They also learn about the different types of credit, such as credit cards and loans, and how to use them responsibly.

  4. Taxes Students learn about the different types of taxes, including income taxes, sales taxes, and property taxes. They learn about how taxes are calculated and why it's important to pay them.

  5. Investing Students learn about the basics of investing, including stocks, bonds, and mutual funds. They learn about the risks and rewards of investing and how to create a diversified investment portfolio.

  6. Insurance Students learn about different types of insurance, such as health insurance, auto insurance, and homeowners insurance. They learn about the importance of insurance and how it can protect them from financial risks.

  7. Financial Planning Students learn about the importance of setting financial goals and creating a plan to achieve them. They learn about the different types of financial goals, such as saving for college or retirement, and how to create a plan to achieve them.

By teaching these essential personal finance concepts, students are better equipped to manage their finances, avoid financial pitfalls, and achieve their financial goals. Personal finance education is a crucial step towards creating a financially literate population that can navigate today's complex financial landscape with confidence.

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