Lizeth GeorgeThis afternoon, the Alabama House of Representatives will consider legislation that would require high school students to take a financial literacy course to graduate. House Bill 164 would require public school students to complete a course on personal financial literacy and money management and pass a standardized test before graduation.
Coursework will include:
- Balancing a checkbook
- Basic principles of money management, spending, credit scores and managing credit card debt
- Evaluating types of loans
- Basic principles of personal insurance policies
- Understanding percentages as relating to taxation
- Computing interest rates by various mechanisms
- Simple contracts
- Types of saving and investments
Credit unions play a significant role in educating communities across Alabama on financial wellness and this bill would ensure that these students are financially literate at an even earlier age, putting consumers on a path to financial success before they even graduate high school.
Basic financial literacy skills are key to success in today’s world, and credit unions stand ready and willing to assist the Alabama Legislature in everyone in our state has the knowledge and resources necessary to succeed.
Click here to encourage legislators to support financial literacy in Alabama.
