High School Personal Finance Curriculum (2024)

FAQs

What is personal finance class in high school? ›

In summary

Students would learn about paying for college, online banking, taxes, budgeting, credit, retirement accounts, loans, how the stock market works and other topics.

EVERFI's free high school financial literacy course equips students with tools to manage their personal finances in the real world, from applying for financial aid to establishing credit and investing.

Research shows that students who have access to high-quality financial education have better financial outcomes as adults that result in less debt and a higher quality of life.

This course presents the theory and practice involved with applying personal financial decisions met in everyday living. Students learn about the functions of financial institutions, time value of money, setting budgets, and saving for major purchases and retirement.

Students who are required to take personal finance courses starting from a young age are more likely to tap lower-cost loans and grants when it comes to paying for college and less likely to rely on private loans or high-interest credit cards, according to a study by Christiana Stoddard and Carly Urban for the National ...

The 50-30-20 rule recommends putting 50% of your money toward needs, 30% toward wants, and 20% toward savings. The savings category also includes money you will need to realize your future goals.

Key aspects of financial literacy include knowing how to create a budget, plan for retirement, manage debt, and track personal spending.

In addition to staff-led financial literacy sessions, young people practice their financial decision-making skills through fun, engaging digital tools and games. Teens who complete Money Matters show improved financial management skills, including saving money and sticking to a budget.

Why is EVERFI free? ›

EVERFI secures community partners to sponsor K-12 schools. These partners fully fund all the courses & resources available via the EVERFI platform so they're always free for schools.

Learning to save begins and ends with becoming mature by taking responsibility for yourself and your spending and saving habits. Yes, responsibility and maturity are directly connected; the more personal responsibility you accept, the more mature you become.

Developmental Readiness: High school students are typically in their teens and just beginning to navigate adulthood. Personal finance topics, which often include budgeting, taxes, investing, and retirement planning, may be too far removed from their immediate needs and concerns.

In this financial literacy for high school lesson, students build an understanding of how financial institutions work, how to use them, the different products they offer, and how to manage their own account portfolio.

So, the next question then becomes, “Where should the new stand-alone personal finance course be housed?” Personal Finance is a Social Science. Over all else, social studies (taught by those with a background in Economics) is the best fit for the new personal finance course.

Smart personal finance involves developing strategies that include budgeting, creating an emergency fund, paying off debt, using credit cards wisely, saving for retirement, and much more. Being disciplined is important, but it's also good to know when you shouldn't adhere to the guidelines.

According to The College Board, finance student “course work covers such topics as planning, raising funds, making wise investments, and controlling costs.” Students who major in finance generally study for a bachelor of science degree, as many of the classes require solid high-level math skills.

Listening to podcasts and reading books about specific areas of finance that interest you help break down more complex financial topics and speed up the learning process. There are also many paid and free courses out there that offer courses in different areas of finance and investing.