April is National Financial Literacy Month, when the federal government and many states encourage citizens to become more financially literate. Unfortunately, many today lack a basic knowledge of economics, to our nation’s detriment.
Across the country, states are starting to mandate that students take a personal finance course to graduate high school, often in place of economics courses. In 2022, only 23 states required students to take a financial literacy class in order to graduate; by 2026, that number had rocketed to 39 states.
Meanwhile, only 22 states now mandate the same for economics classes, a number that seems to decline each year.
Some argue that financial literacy is a more practical subject than economics. With limited classroom time available, who doesn’t support teaching the life skills of budgeting, borrowing, and investing?
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