Assembly Passes Finance Literacy for High Schoolers

Today, State Representative Joy Goeben (R-Hobart) voted in favor of a bi-partisan bill that will help ensure Wisconsin students learn about personal financial literacy by requiring a one-half credit class on this subject in order to graduate high school.

“It is important that we teach this important life skill, especially as students head out into the world,” said Rep. Goeben. “We need to ensure that our students are taught the importance of saving, budgeting, and even how to balance a check book. Understanding loans, credit cards, and how other types of financial tools work are also important skills.”

According to the Department of Financial Institutions, 52% of Wisconsin residents are living paycheck-to-paycheck. And most adults do not have a personal budget. 69% of Americans have less than $1,000 in savings. Learning how to make good financial decisions early in life can help people avoid joining these unfortunate statistics. This bill requires that to graduate, a high school student must earn at least one-half credit of personal financial literacy, which includes topics like saving and investing, credit and debt, and risk management and insurance.

Wisconsin has joined a growing number of states implementing this curriculum. The number of states requiring all high school students to take a stand-alone personal finance course in order to graduate has grown from 8 states in 2020 to 19 states today; another 19 states have introduced legislation similar to Wisconsin’s finance graduation requirement.

The bill has an overwhelming number of co-sponsors, with nearly 60 Republicans and Democrats in the Assembly and Senate signing on in support. The bill passed the Assembly today, June 7, 95-1, with the only no vote coming from democrat Representative Clancy.

“I am proud to support this bi-partisan legislation that ensures our students have the skills they need to succeed in the future,” said Goeben.

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The 5th Assembly District encompasses portions of Outagamie and Brown Counties, including the communities of Hobart, Kaukauna, Freedom, Ashwaubenon, and Little Chute.