JACKSON, Miss. — A legislative measure that would teach your children how to budget and save is one step closer to becoming a reality. House Bill 637, a measure being promoted by state Treasurer Lynn Fitch, sailed through the House chamber Wednesday with strong support by a vote of 118-1. It now heads to the Senate for approval. “I truly appreciate Representative John Moore and all the House members for standing behind this important piece of legislation,” the Treasurer said, thanking lawmakers for their support.
“Teaching the ins and outs of managing money is a very powerful gift to give a young person,” said Treasurer Fitch. This bill would make sure all Mississippi high school students graduate knowing how to write checks and budget, the risks and benefits of saving and investing, the difference between gross and net income and other aspects of financial literacy.
“What this does is not only help students, but our state,” Fitch said. “If we teach our children how to be good stewards of their dollars, they become our workforce and will be good stewards of your business’s dollars. This shows them the importance of learning how to handle money.”
House Bill 637 requires students in the 10th, 11th and 12th grades to take one semester of financial literacy. Current law makes personal finance an option for students. According to the Mississippi Council on Economic Education (MCEE),
22 school districts in the state are already teaching financial literacy.
“Long term, this curriculum will help decrease the debt owed by Mississippians,” the Treasurer believes. She also says it will decrease the number of high school dropouts while increasing the number of students seeking higher education.
During the 2011-2012 school year, 5,869 of the 29,115 students in the 12th grade took the personal finance elective. 161 of the 253 Mississippi public high schools already employ personal finance teachers.
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