With just 15% of Americans enrolled in defined benefit plans run by their employers, it’s necessary for Americans to get better educated on personal finance. All states promote financial literacy, though some do a better job of this than others.
These are the states that are achieving the best with personal finance education.
A standardized high school course in personal finance must be taken by students. Alabama also requires students to take a class on economic education.
California became the latest state to require a personal finance course for high school graduation following Gov. Gavin Newsom’s signing of a bill in late June 2024. The legislation makes personal finance a graduation requirement starting with the 2030-31 graduating class.
Connecticut requires high schools to offer a standardized course in personal finance and students in Connecticut are required to take it. The Nutmeg State required a one-semester course for high school students beginning June 7, 2023., when Gov. Ned Lamont signed a bipartisan bill into law.
Students must take a standardized high school course in personal finance. The state House and Senate unanimously passed a bill that was signed by Gov. Ron DeSantis on March 22, 2022, that requires all students to take a one-semester personal finance class to graduate from high school, beginning with those starting ninth grade in 2023. The state also requires students to take a class on economic education.
A standardized high school course in personal finance must be taken by Indiana high school students. The requirement went into law on May 4, 2023. It applies to all graduates in the year 2028 and beyond. Students in Indiana also must take a class on economic education.
High school students in Kansas must take a standardized high school course to graduate. In 2022, the Kansas Board of Education changed its graduation requirements to require all students to take at least a half-unit course in financial literacy.
Louisiana high school students are required to take a standardized high school course in personal finance as a condition for graduation. A bill signed into law by Gov. John Bel Edwards on June 9, 2023, requires all Louisiana high school students graduating in 2027 and afterward to take a personal finance class.
Students in Minnesota high schools must take a standardized high school course in personal finance to graduate. In Minnesota, regulations require that economics be taught in a standalone or integrated course. On May 24, 2023, Minnesota required students to take a one-semester course in personal finance.
Mississippi ranks 35th among the states in education, according to a U.S. News & World Report ranking. The state is addressing personal finance literacy by requiring high school students to take a standardized high school course in personal finance. Mississippi students must also take a class in economics.
A standardized high school course in personal finance must be taken by students in Nebraska. The Corn Husker State ranked 14th in education among U.S. states, according to a U.S. News & World Report ranking.
In the Granite State, students must take a standardized high school course in personal finance. In 2022, the state Department of Education issued an advisory requiring all students to take a one-semester personal finance course to meet the new standards established by the state legislature. New Hampshire students must also take a class in economics.
In the Tar Heel State, a standardized high school course in personal finance must be taken. North Carolina students must also take a class in economics.
A standardized high school course in personal finance must be taken by Ohio students. The Buckeye State ranks 27th in education in a ranking by U.S. News & World Report.
A standardized high school course in personal finance must be taken by Pennsylvania students. A bill passed by both houses of the Pennsylvania legislature and signed by Gov. Josh Shapiro on Dec. 13, 2023, requires all students to take a standalone personal finance course, beginning with the 2026-27 school year.
Rhode Island requires high school students to take a standardized high school course in personal finance. Starting with those who graduated in 2024, all Rhode Island students must have completed a personal finance course, passed an exam, or demonstrated proficiency in understanding personal finance through a project or another approved proficiency.
South Carolina students must take a standardized high school course in personal finance. In November 2022, the state Board of Education approved the requirement that starting with the freshman class of 2023-24, students are required to complete a one-half credit in financial literacy. Students in the Palmetto State must also take a class in economics.
The Volunteer State requires high school students to take a standardized high school course in personal finance.
Utah students must take a standardized high school course in personal finance. Students in the Beehive State must also take a class in economics. Utah was ranked second in the nation in education by U.S. News & Report.
Virginia students must take a standardized high school course in personal finance. Students in the Old Dominion State must also take a class in economics. Virginia was ranked 10th in the nation in education by U.S. News & Report.
A standardized high school course in personal finance must be taken by West Virginia students. Both of West Virginia’s legislative houses passed a bill that was approved by Gov. Jim Justice on March 23, 2023. It requires students to take a one-semester course on personal finance as a condition for graduation from high school, starting with incoming ninth-grade students in 2024.
Wisconsin students must take a standardized high school course in personal finance. Wisconsin Gov. Tony Evers signed a bill on Dec. 6, 2023, that requires students to take a half-credit course in financial literacy to graduate, beginning with the class of 2028.
