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California to Mandate Financial Literacy for High School Graduation

In a significant move to equip students with essential life skills, California is set to make financial literacy a mandatory requirement for high school graduation. This decision comes after an agreement between state leadership and NGPF Mission 2030, an affiliate of Next Gen Personal Finance.

Governor Gavin Newsom, along with Senate President pro Tempore Mike McGuire and Assembly Speaker Robert Rivas, announced the initiative, emphasizing the importance of preparing young Californians for their financial futures. The new requirement will be implemented through AB 2927, which Governor Newsom has committed to sign.

Under this legislation, a semester-long personal finance education course will be available to all California high school students by the 2027-28 school year. Starting with the graduating class of 2030-31, personal finance will become a mandatory graduation requirement.

Governor Newsom stressed the importance of early financial education, stating, “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.”

Senate President pro Tempore McGuire highlighted the long-term benefits of financial literacy, citing improved credit scores, reduced default rates, and increased likelihood of maintaining emergency savings and retirement accounts.

The initiative has garnered support from various stakeholders, including Tim Ranzetta, co-founder of NGPF, who commended the leadership’s commitment to providing access to personal finance education for every California student.

This move aligns with other state efforts to promote financial well-being among young Californians. Notably, the CalKIDS program, which invests $1.9 billion into college savings accounts for low-income school-age children and newborns, underscores the state’s commitment to early financial preparation.

The implementation of this financial literacy requirement represents a significant step towards empowering California’s youth with the knowledge and skills necessary for making informed financial decisions throughout their lives.

As this initiative unfolds, it is expected to have a lasting impact on the financial health and prosperity of future generations of Californians.

One Comment

  1. The Native American

    Ohhhh boy!

    I guess a step in the right direction, but a far cry from everything that has been going on. Hasn’t anyone been looking at how corrupt the banks, politicians, lobbying and poor market structures are? Let alone housing being bought by larger investment firms and Wall Street?

    Even if this is pushed through and say the youth “learn” how to “invest”, there are many outside factors that are against retail investors and some examples are:

    1. Payment for Order Flow (Buys Having no Effect on Markets But Sells Immediately Effect it)
    2. Exchange Re-Routing (Dark Pools) Using an internalized pool to short/manipulate and hide data and price discovery
    3. Short-Ladder Attacks (Driving Stock Prices Down By Large Spreads and Routing)
    4. AI/BOTs Controlling and Writing Media/Articles and manipulating stock/price sentiment (To make you buy or sell)
    5. SEC Governance comprised of Top Executive Bankers Of Wall Street
    6. Delays/Re-Calculation of Short Interest (to give a retail investor the impression that a stock is going well when it isn’t)
    7. T-35 Settlement Cycles Manipulated to heck

    I mean I can go how badly the stock market is rigged against the Joe, Jane, Johnny and Janny. Sorry, but these classes should have been taught much early on and I don’t see how a corrupt market structured that’s completely and utterly rigged against future and potential investors will work. It might for personal finance (doing taxes and manage spending) but building wealth will be an utter nightmare.

    I’ve been advocating for market transparency for some time, and nothing will ever be done. The last hope to building wealth was housing and that’s already being taken away.

    Future generations will have a much tougher fight ahead!

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