Ducey Signs Financial Literacy Bill Into Law

Arizona House of Representatives

Phoenix – Arizona Governor Doug Ducey has signed Senate Bill 1184 into law. The bill requires financial literacy for high school graduation.

“Financial education addresses the importance of savings, balancing a checkbook and understanding what it means to carry credit card debt. This basic life skill will now be taught before students enter the real world so that our young people are prepared to manage their money,” said Treasurer Kimberly Yee. “They can be successful if they have financial freedom and understand that you can’t spend more than you make.”

S.B. 1184 codifies economics as a required course for high school graduation in state law and requires financial literacy and personal financial management to be included as components of the required economics course.

As a member of the Legislature, Yee passed laws that require the state’s academic standards to include financial education in each grade level as benchmarks in K-12. She also established a seal of financial literacy on graduation diplomas that can be earned by high school seniors.

According to a recent survey by the National Foundation for Credit Counseling, one in
eight adults aged 18 to 34, otherwise known as Millennials, have debts in collections.
Seven million Americans are three months behind in car payments.

6 Comments

  1. Financial literacy is important in life but what is desperately needed is civic literacy. I would make passing a U.S. citizenship test as a requirement for an Arizona high school diploma. Too many of our citizens have no idea how our government operates or their role in it as citizens.

    • Coyote, AMEN!
      And maybe one step toward that would be getting governments and their component politicians and bureaucrats out of the school business?

  2. When I was in high school we were required to take General Business, which taught us how to write a check, balance a checkbook and how to budget our money, among them paying employees and AR and AP.
    Do they still have those classes? I know my daughter had something similar in her school.

  3. “Financial literacy”? Probably a good idea … but are our Arizona government officials financially literate?
    Certainly they are Ph.D.s compared to the government officials to our immediate west, but do all the members of Arizona government “… understand that you can’t spend more than you make”?

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