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Teaching Financial Literacy and Life Skills in High Schools

By Dr. Jarrod Sadulski
Faculty Member, Criminal Justice

In addition to the standard curriculum being taught in today’s high schools, there is a need for instruction on financial literacy and basic life skills. As high school graduates enter adulthood, for instance, they will need to understand personal finance.

Students who gain a deeper understanding of financial literacy before they start making important money decisions are less likely to get in over their heads in debt. In addition, they are more likely to manage money properly and reach their financial goals. A high school student can obtain a credit card as early as age 18, which is why understanding how to properly manage personal finances is critical.

Financial literacy skills include managing income and debts, creating budgets, investing, and borrowing responsibly. By teaching these financial skills in our high schools, young adults can avoid making poor money decisions that could require years of recovery.

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Florida Enacts Law Requiring a Financial Literacy Course in High School

The state of Florida has taken a proactive step in improving financial literacy in its high school graduates. According to Florida Political Review, Governor Ron DeSantis signed a bill on March 22 of this year that requires Florida high school students to complete a financial literacy and money management course prior to graduation. This bill, called the Dorothy L. Hukill Financial Literacy Act, makes Florida the largest state to require a financial literacy course for high school graduates.

According to Florida Political Review, Governor DeSantis said that “Financial literacy is an important life skill for a student to have. Ensuring our students have the skills to manage their finances and perhaps one day own a business will pay dividends for our state.”

This financial literary bill is a step in the right direction in equipping Florida students for their lives as adults. For example, Ramsay Solutions notes that the bill requires students to earn a half credit by acquiring personal financial literacy skills such as how to file taxes, use bank accounts, use personal insurance policies and manage debts. Ramsay Solutions also observes that:

  • 78% of American citizens feel that they live paycheck-to-paycheck
  • One in four people don’t save money on a monthly basis
  • 36% of Americans didn’t have the extra money to cover a $400 emergency

High School Students Also Need to Learn Other Life Skills, Such as First Aid and CPR

While financial literacy training will be extremely helpful for high school students, they need to learn other life skills as well. For example, educating high school students on first aid and cardio-pulmonary resuscitation (CPR) can prove useful when those students see a medical emergency when they go to college or enter the workforce.

Similarly, other helpful skills that should be taught in high schools include critical thinking and problem-solving skills. These skills can be especially essential in college or the workplace.

Dispute resolution training is an equally vital skills for high school students. It can help resolve conflicts, both in and out of the workplace.

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More Schools Should Teach Essential Life Skills for Adulthood

To properly prepare our high school students for the challenges they will face as adults, they will benefit by learning financial literacy and other life skills as soon as possible. Other states can similarly help their graduates by following Florida’s lead in making financial literacy a requirement to graduate high school.

Jarrod Sadulski

Dr. Jarrod Sadulski is an associate professor in the School of Security and Global Studies and has over two decades in the field of criminal justice. His expertise includes training on countering human trafficking, maritime security, effective stress management in policing and narcotics trafficking trends in Latin America. Jarrod frequently conducts in-country research and consultant work in Central and South America on human trafficking and current trends in narcotics trafficking. He also has a background in business development. Jarrod can be reached through his website at www.Sadulski.com for more information.

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