Groups Update and Unify Standards for Teaching Personal Finance in K-12 Schools

To provide educators with a unified set of national standards to teach personal finance in K-12 schools, the Council for Economic Education and the JumpStart Coalition for Personal Financial Literacy today jointly released a new benchmarking document: National Standards for Personal Financial Education.

Each organization previously had published its own recommendations. The newly unified standards, which set learning objectives at each grade level, are organized around six topic areas: earning income, spending, saving, investing, managing credit and managing risk. The standards identify knowledge, skills and decision-making abilities for students to build lives as smart consumers, according to the CEE and JumpStart. They also acknowledge change in areas such as behavioral finance, higher education financial planning, identity theft, mobile payments and cryptocurrency in the years since standards were last published in 2015 and 2013 by JumpStart and CEE, respectively.

The standards were developed in collaboration with K-12 and university educators, curriculum developers and researchers, and were reviewed to ensure diversity, equity and inclusion. At least some personal finance education is mandated in 21 states, according to CEE.

The ABA Foundation is a founding member of JumpStart and a past supporter of CEE.