Gov. Ron DeSantis says the new graduation requirement ‘will pay dividends’ for the state
Florida Gov. Ron DeSantis this week signed legislation into law requiring that high school students in the state take a financial literacy course in order to graduate.
The bill, titled the Dorothy L. Hukill Financial Literacy Act, requires students to take a half-credit in personal financial literacy and money management. The legislation requires that the course cover basic skills, such as how to manage a bank account, balance a checkbook, complete a loan application and compute federal income taxes.
It also requires that the class teach high schoolers about local tax assessments, contesting incorrect billing statements, the basics of personal insurance policies and simple contracts.
“Financial literacy is an important life skill for a student to have,” DeSantis said in a statement. “Ensuring our students have the skills to manage their finances and perhaps one day own a business will pay dividends for our state. I am proud to sign this bill to support the future of Florida’s students and ultimately their families and communities.”
I think this is a fabulous idea and should be a requirement for all high school students across the country. If a live to be 100 years old, I will never ever forget a coworker of mine who was complaining about her salary and not being able to play her bills. She mentioned that she had 3 credits cards which I responded to her with shock. The absolute crazy thing was I vividly remember her telling her that she needed 3 credits cards to play her bills. I asked her to bring with her any one of her credit cards statement so I might be of assistance to her identity her problems. The next day she came to work with all 3. What happened next was, as they say, “Priceless”
All 3 credits cards were pretty much maxed out and she was making only the minimum payment on all 3, yet she was spending like a madwoman on clothes, dining out, crap. Then I showed her on the statement that while she was paying more than $100 in minimum payments on all 3 credit cards, she was only paying off $10 of her total balance. The look of absolute “STUPID” on her face was, as they say, “Priceless”.
She had absolutely no idea how a credit card works, how interest on credit card balances is applied, she had absolutely no idea. As she walked out of the break room I shook my head in total disbelief. I then saw 2 other fellow employees doing the same as the looked at me quietly laughing.
I’ll never forget that moment because it still happens to this day with most of my grown children’s friends.
Back in the 1900’s we had a freshman high school courses called Introduction to Business and typewriting. Intro touched banking, accounting, debt, credit and was the front door to additional business like courses to obtain a HS diploma. (Economics I and II, accounting I and II, computer science, data programming).
We also had blue collar trade courses – yet those with BIG heads (politico’s) felt funding for trade courses AND extra curricular activities (outside of FOOTBALL, BASKETBALL and BASEBALL) needed to be cut and the curriculum of classes needed to fall in line with colleges.
How has that worked out????
There is information missing from the article. In what grade will this be taught. How long is the course? When new material comes in something is replaced. What is going out? I agree the course is important. I don’t like state mandates. This should be up to local school board.
A lot of economic classes need to be taught here. Case in point………Last week I went into a local gas station/ convenience store and made a purchase that totaled $2.86. I gave the cashier a 5 dollar bill and the 86 cents in change. She fooled and fumbled and got out a calculator and still couldn’t figure it out, so another employee came over to help her and got out his smart phone and tried to come up with the answer, they they gave me the wrong change…………………..they gave me back $3.23. WTF??????? I LEFT!!!!! It would only have confused them more and held the line up longer to give back the 23 cents! And they were making $14.00 dollars an hour!!~! Unbelievable.
The above story is just so typical.