The state of Florida recently became the only state in the U.S. to adopt standards for teaching students about personal finance based on the Council for Economic Education’s (CEE) National Standards for Financial Literacy.
The move comes just one year after the Florida legislature adopted a measure to make financial education mandatory for high school students, according to a press release from Financial Corps.
The National Standards were developed by a group of economists, financial literacy researchers, education specialists and experts from the Federal Reserve. Topics include budgeting, saving, investing, earning income, insurance and other matters.
“The move by Florida to become the first adopter of the National Standards is seen widely as a bellwether that has the potential to prompt many more states to follow suit,” the Financial Corps said in a commentary. “…[W]hile more states are implementing standards in financial education, there has been no meaningful progress in the number of states that mandate an economics or finance course as a requirement to graduate high school, with that number remaining constant at 22 for the last three years. Thus, with more work still to do for financial education advocates, the industry is widely applauding Florida for moving forward as the first state to adopt the National Standards, with many industry observers watching closely for more states to follow Florida’s lead in the months and years ahead.”