{"id":17217,"date":"2025-08-21T20:34:31","date_gmt":"2025-08-21T20:34:31","guid":{"rendered":"https:\/\/wifamily.news\/?p=17217"},"modified":"2025-08-21T20:57:04","modified_gmt":"2025-08-21T20:57:04","slug":"financially-illiterate-high-schoolers-about-to-be-taught-a-lesson","status":"publish","type":"post","link":"https:\/\/wifamily.news\/?p=17217","title":{"rendered":"Financially illiterate high schoolers about to be taught a lesson"},"content":{"rendered":"

This post originally appeared at https:\/\/www.badgerinstitute.org\/financially-illiterate-high-schoolers-about-to-be-taught-a-lesson\/<\/a><\/p>\n

Overwhelmingly popular new mandate spurs action from nonprofits<\/em><\/h4>\n

Editor\u2019s note<\/em>: Fourteen years ago, the Badger Institute (then known as WPRI) issued a paper<\/a> by Scott Niederjohn calling on the State of Wisconsin to require that all high school students take a course in economics and personal finance before graduating. Only 19 percent of high school kids at that time even knew the definition of inflation, and there\u2019s little indication today\u2019s students are much better versed. While it\u2019s disappointing that not all Wisconsin high school students learn about market-oriented economics, the state has finally mandated financial literacy courses. Now, as Niederjohn suggests below, comes the hard part \u2014 implementation.<\/p>\n

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Beginning with the class of 2028, all high school students in Wisconsin must complete at least one semester of personal financial literacy to earn a diploma \u2014 the much-needed result of Act 60, signed into law with overwhelming bipartisan support by Governor Tony Evers in December 2023.<\/p>\n

The law \u2014 which proponents argued would help break cycles of generational poverty and reduce dependence on social safety nets \u2014 mandates that every student complete a course including information about everything from money management to saving and investing to risk management and insurance.<\/p>\n

Nonprofits and institutions are bringing some Wisconsin educators up to speed on how to teach the subject: More than 225 teachers took part in training workshops this summer in Wisconsin. But there are more than 500 public high schools in Wisconsin and only two years before the class of 2028 begins its senior year.<\/p>\n

Wisconsin already required that all districts teach its personal finance standards in the K-12 curriculum. They could do it however they wanted and were not asked to show how they did it \u2014 there was no stand-alone course requirement. The change is that now a stand-alone course is required at the high school level.<\/p>\n

Some schools are starting with an advantage. About one-third of students attended schools offering elective personal finance courses, and districts such as Milwaukee Public Schools had already implemented semester-long programs voluntarily. The state, however, doesn\u2019t keep a count of how many districts have implemented stand-alone programs.<\/p>\n

Best practices for implementation<\/h4>\n

With the law in place, it\u2019s up to Wisconsin schools to implement this requirement effectively. Drawing from research and the experiences of other states, several best practices stand out:<\/p>\n

Invest in teacher training:<\/strong> A 2009 study found that fewer than 20 percent of teachers felt well-qualified to teach personal finance. Encouragingly, by 2020, 95 percent reported feeling confident or very confident.[1]<\/sup> However, ongoing training is crucial.<\/p>\n

Engage students with active learning:<\/strong> Financial concepts can be abstract or intimidating. Lessons that use simulations, games, case studies and real-life scenarios boost engagement and retention.\u00a0<\/p>\n

Leverage community partnerships:<\/strong> Local banks, credit unions and nonprofits often provide guest speakers, financial tools, and classroom resources. These partnerships can bring real-world perspective \u2014 but schools should guard against undue commercial influence.\u00a0<\/p>\n

Measure outcomes:<\/strong> Research shows that financial literacy education can lead to better financial behaviors, such as increased savings, improved credit scores, and reduced reliance on high-interest loans. Ongoing assessment ensures the program remains impactful and allows for continuous improvement.[2]<\/sup>\u00a0<\/p>\n

Key financial literacy organizations supporting schools<\/h4>\n

Several national and state-level organizations provide resources and professional development:\u00a0<\/p>\n