Most students in the U.S. aren’t being taught how to manage money before they graduate. A 2021 report from the American Public Education Foundation found that two-thirds of states earned a grade of C or lower for personal finance education. Only 15 states require high school students to take a course in personal finance.
That’s a problem—especially when the average American carries over $105,000 in debt. Without early exposure to financial concepts, young people may struggle to manage credit cards, take on student loans they don’t fully understand, or miss opportunities to save for emergencies.
Why Financial Literacy Matters
Financial education goes beyond balancing a checkbook. It can help young people understand how to budget, compare financial products, avoid high-interest debt, and make decisions about saving or investing. These are everyday skills that impact nearly every part of adult life.
Without these tools, students may face challenges that affect not just their wallets, but also their mental and emotional well-being. Research from the Financial Industry Regulatory Authority (FINRA) shows that people with stronger financial knowledge are more likely to spend less than they earn and save for emergencies—both key habits that support long-term stability.
What’s Getting in the Way
So why isn’t personal finance a standard part of the curriculum in every school? One reason is the heavy focus on standardized testing. Schools are under pressure to prioritize core subjects like math and reading, often leaving little room for additional courses.
Another challenge is that education policy is set at the state level. There’s no national requirement for teaching personal finance, so each state decides whether—and how—to include it. In many cases, financial literacy is offered only as an elective, if at all.
Signs of Progress
There are reasons to be hopeful. In recent years, more states have introduced or expanded financial literacy requirements.
Teacher readiness is also improving. In 2009, only 1 in 10 teachers felt confident teaching personal finance. In 2021, that number was closer to 7 in 10, thanks in part to new training programs and resources.
Community support is growing as well. Numerous organizations now offer free financial literacy materials for schools and families:
- Junior Achievement USA provides experiential learning programs covering work readiness, entrepreneurship, and financial literacy.
- FitMoney offers free, unbiased financial literacy programs tailored for K–12 students.
- EVERFI partners with sponsors nationwide to provide interactive, online financial literacy resources to schools at no cost.
- Operation HOPE focuses on economic empowerment and offers financial literacy education in schools and communities.
- Financial Beginnings delivers free personal finance education through trained volunteers across the U.S.
These initiatives help fill the gaps left by traditional curricula, making financial education more accessible to students nationwide.
Why It’s Worth Prioritizing
Personal finance is one of the few subjects students are guaranteed to use throughout their lives. When schools introduce these lessons early, students can begin building healthy money habits before they face high-stakes decisions like taking out loans or signing up for credit cards.
Financial literacy doesn’t have to fall solely on schools. Parents, community leaders, and educators can all play a role by encouraging open conversations about money and using the many free tools now available.
With more awareness and support, financial education could become a standard part of every student’s learning—not just a nice-to-have elective.
Learning about money before it becomes an issue is critical—this knowledge sets youth up with the intentions and habits to avoid the challenges of indebtedness and financial fragility.
