The 2022-2023 California budget will include millions of dollars earmarked for teaching financial literacy classes in schools.
The funds will go to the California Department of Education to develop curriculum for financial literacy courses for K-12 schools. It is part of $3.5 billion granted to the Department of Education to develop curriculum on a number of subjects.
Assemblyman Jordan Cunningham (R-San Luis Obispo) has advocated for adding financial literacy curriculum to schools.
"It's all too clear that kids are graduating high school without knowing much about debt, compound interest, basic investing or budgeting," Cunningham said in a release. "After years of pushing for more financial literacy coursework in our K-12 schools, I am glad to see our hard work finally paying off."
In 2022, Cunningham introduced AB 2051, a bill that if passed would allow the State Superintendent to give local school districts funds to develop financial literacy curriculum. The bill is currently in committee.
Cunningham added, "Financial literacy is key to getting our kids ready to enter adulthood—this investment will pay dividends."