As a grown-ass adult, I can still barely balance my checkbook. And investing in stocks and bonds? Forget about it.
But what if we taught people how to do these things before leaving school? I mean, if freaking gym class is required, why not personal finance?
Here's Five Fast Facts …… :
- 🦄 The Bill - The Michigan House of Representatives recently passed HB 5190, which will require personal finance to be taught in all Michigan public high schools. And it passed with support from both sides of the aisle with a 35-2 vote in the Senate, making it a truly magical unicorn of a bill!
- 👌 Get the siggy - Next, the bill goes to Governor Whitmer for a signature. Once that happens, Michigan will become the 14th state to require a personal finance class for graduation.
- 👏 Here for it - The bill has broad support from politicians and organizations like the Michigan Bankers Association, Michigan Credit Union League, the Michigan Council for Economic Education, and some of the largest school districts in the state.
- 🔩 The nuts and bolts - The bill has support because it's practical information that students can use for the rest of their lives – unlike underwater basket weaving or something.
- 🎓 Get on it - Once the bill is signed, the program will be off and running, starting with the kids will be 8th graders in the 2023 school year. The class will count as a math, language, or arts credit – that part will be up to each local school board.
🔥Bottom line: To raise a financially savvy generation, we must give them the proper tools. This class requirement will ensure our kids aren't doomed to a life of credit card debt and horrible money management. They aren't NFL players, after all.
Would you have benefited from a personal finance class during high school? Let us know by connecting with us on Social Media and be sure to share this newsletter with any friends & coworkers!
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