Massachusetts Needs Financial Literacy Education Legislation Now: S.2374

I have long advocated for the need to provide all students with proper financial literacy education. Everyone would be better off having the knowledge of how to better manage their own finances in a more responsible way. NextGen Personal Finance released their National Access Report showing some staggering statistics:

Information about their national push for financial literacy education can be found on their #FinHero campaign page. There, you are able to look up schools to see what financial literacy courses are offered and if they are required. For example, Mansfield High School is considered a “silver” school for offering a standalone financial literacy course. It is not a “gold” school because the course is an elective.

I wrote a blog post entitled Support An Act for Financial Literacy in Schools (S.2374) for the Massachusetts Business Educators Association (MBEA), pleading for residents of Massachusetts to support financial literacy education in the Commonwealth. In that post you will find details of bill S.2374, An Act Relative to Financial Literacy in Schools, which would make financial literacy a requirement for graduation in Massachusetts. The bill passed the Senate unanimously. It now sits with the House Committee on Ways and Means. If you also feel strongly about the need to educate ALL students in Massachusetts about financial literacy, please consider contacting the members of the House Committee on Ways and Means. For your convenience, all emails of the members of the House Committee on Ways and Means have been compiled HERE.

I have volunteered for several years on a collaborative committee (MassSaves K-16 Workgroup) working to advance this cause. Representatives from many different sectors combine to ensure financial literacy education and capability for all. Committee members come from education, banking, nonprofits, the community, and so on. We are guided by MassSaves. MassSaves is a “broad volunteer-based network of public and private stakeholders including financial educators, providers, community organizations and advocates.” MassSaves just sent out the following press release:

If you are as passionate about financial literacy as I am, please let your voice be heard. Your voice matters!