California could require kids to learn how to manage money. Should voters decide curriculum?

School curriculum is usually the purview of education experts, but this fall it could be decided by California voters, who will vote on adding a new requirement for high school students: a one-semester class in managing personal finances.

California’s Secretary of State is poised to certify that the California Personal Finance Act is eligible for the November ballot, which would add financial literacy to the list of high school graduation requirements beginning with the class of 2030.

Students would learn about paying for college, online banking, taxes, budgeting, credit, retirement accounts, loans, how the stock market works and other topics. The issue is critical, organizers said, as students face a shifting economy and difficult decisions about college, careers and their futures.

“No one comes out of the womb knowing how to manage their credit score. It has to be taught,” said Tim Ranzetta, co-founder of a personal finance education nonprofit and a chief backer of the initiative. “And right now there’s a dramatic gap between what students know and what they need to know. We have to change that.”

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