Many states are taking steps to make financial literacy an increased part of children’s education.
Florida became the 11th state to require a financial skills course as a high school graduation requirement last month, joining Alabama, Mississippi, Missouri, Nebraska, North Carolina, Ohio, Rhode Island, Tennessee, Utah, and Virginia, according to Fox Business.
More states are beginning to address the issue — 37 states and Washington, D.C., have discussed bills about financial literacy in 2022, according to the National Conference of State Legislatures.
Of those, 20 are based on developing programs in high schools.
Approval ratings for the new measures are high, as 88% of adults surveyed by the National Endowment for Financial Education favor requiring financial education.
“Americans overwhelmingly recognize the importance of learning money skills at an early age, and this poll reinforces there is demonstrated national support for personal finance to be a part of learning in all schools,” said Billy Hensley, president and CEO of the National Endowment for Financial Education, in a statement Monday.
Two of every three families do not have any emergency savings, 78% of adults live paycheck to paycheck, and 60% do not have a monthly budget, according to CNBC.
“If we are going to make sure everyone in this country has food to eat and a roof over their heads, we have to teach them how to manage their money,” Nan Morrison, president and CEO of the Council for Economic Education said, CNBC reported.