DENVER — A bipartisan bill moving through the state legislature right now would make a personal finance class a requirement for high school graduation. It’s already a requirement in about 25% of school districts in Colorado.
Financial literacy is crucial to learn at a young age, Financial Adviser Bruce Allen said.
Bill to make personal finance class requirement for high school graduation
“A better educated investor has better chances to achieve their financial goals, whether that’s retirement or putting their children through college,” Allen said. “Whatever those goals may be, the better you’re educated you are as an investor, the better chance you have of achieving those goals”
Allen advised, starting to save early is more important now than ever because many employers have shifted from a pension plan to a 401K.
“The burden of how people will retire is not on companies, but now on the employees that work at those companies,” Allen said.
Outside of the classroom, there are several resources to help kids learn about how to save. The Consumer Financial Protection Bureau has tools for all age groups — from young children to adults. The FDICalso has guides for parents and caregivers of school-aged kids.
Two former Northfield High School students also founded the nonprofit Financial Kids Colorado, pushing school leaders for more classes in financial literacy, including grade appropriate lessons in budgeting, investing and fiscal responsibility.
Education
Denver students push for a financial literacy graduation requirement
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