Financial Literacy and Financial Education in High School

Abstract

Increased interest in financial literacy among youth has put more focus on financial education in high school. Financial education offered in high school may be students’ only exposure to the subject and therefore it should provide instruction in basic finance concepts and decision-making skills that can be useful later in life. Recognition of the value and importance of financial literacy for youth has influenced curriculum and instruction in schools throughout the USA. Many states have included financial literacy in their standards or as a requirement for graduation. There are more programs devoted to teaching personal finance to high school students and national tests to measure the level of high school students’ financial literacy. This chapter discusses major developments in high school financial education, including personal finance coursework, content standards, testing, and research about state mandates and specific curriculum.