More than four in five Americans believe that financial education should be part of high school curricula, according to a recent survey by the National Endowment for Financial Education.
Eighty-three percent of respondents said the state they live in should require a semester- or year-long course focused on personal finance as a graduation requirement, according to NEFE. Roughly the same percentage said they wish they were required to complete a personal finance class while they were in school. Asked what topics students should learn, the most popular answer was spending and budgeting, followed by savings, earning income, managing credit and investing.
Twenty-seven states currently require high school students to take a personal finance course to graduate, up from just six in 2019, according to NEFE. Requirements vary depending on the state.
Respondents were also asked where they currently get their financial information and advice. Roughly half (47%) said family members while more than a third (37%) said Google or other online search engines. About one in four (27%) said financial professionals from financial institutions.
The ABA Foundation offers financial education programs and resources for bankers to use in their communities, including Get Smart About Credit and Teach Children to Save.
