Many states are moving forward with legislation mandating personal finance education for their students. And each state will likely come up with individual solutions and offerings for their residents going forward. Of course, each state has areas in which its could improve their personal finance education offerings for students, training for teachers and resources for adult constituents. "You have to continuously have continuing education for personal finance teachers just like you do for English, math or any other subjects." What's next "The best way for a kid to get a quality education is to have a quality teacher," Reeves said. Mississippi offers a master teacher in personal finance program and coaching.
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States have also made sure that educators have resources for professional development to keep up with the ever-changing financial environment and field questions about things such as meme stocks and cryptocurrencies.
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It is free for all adult New Jersey residents. It includes personal finance courses on several topics, including budgeting, saving, retirement, student loans and has real-time budget tools, as well. The platform was developed by Enrich and is powered by San Diego-based financial education company iGrad. "Financial literacy is incredibly important for Americans to secure their personal financial footing, to be better positioned to provide for their families and set themselves up for future success," Murphy said. Murphy announced today, during the CNBC event, that the state has launched NJ FinLit, a financial wellness platform.
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New Jersey is also offering residents access to more personal financial education outside of school. The state governors agree that one of the reasons it's important to have personal finance curriculum in schools is because many students' parents can't teach them about financial literacy at home or simply aren't talking about money enough.
He added that it's important to have such curriculum in schools because many students can't get financial education at home from their parents, who may also fall short on financial literacy. "A mandatory class may be the next step we go to," said Sisolak, a Democrat. That also means that states can change their guidelines as they see fit.
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"But I am absolutely convinced that a fundamental understanding of finances is incredibly important to one's ability to be successful in life." "Each state has to make their own decision and their own priorities as to what classes are most appropriate for their young people," said Mississippi Gov. In Mississippi, beginning this year, a college and career readiness class that includes personal financial education is required for high school graduation. Nevada students are taught about personal finance topics as a part of social studies class, generally starting in grade three and going through high school. More from Invest in You: Want a fun way to teach your kids about money? Try these games Inflation fears force Americans to rethink financial choices Here's what consumers plan to cut back on if prices continue to surge