NJ Passes Law For Financial Literacy Education

by | Mar 20, 2020

NJ Passes Law For Financial Literacy Education

Think your children are learning the basics when it comes to money, think again.

Last year the state of New Jersey passed a law that mandates the state board of education include financial literacy. The new law went into effect last September, it would be required for all sixth and eighth grade public school students.

This is not the first step New Jersey has taken to make sure children are ahead of the financial literacy curve. In twenty fourteen the state adopted a program that included guidelines for what students need to know and be able to do in order to achieve financial independence; things such as balancing a checkbook and understanding a budget. However the rest of the country might not be so business savvy.

In twenty seventeen only five states received an “A” from The Champlain College Center for Financial Literacy on how prepared students were. That’s because only a handful of states even require students to take a basic personal finance class.

And it might just be an important lesson before they get their hands on their first credit card.

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