Finance

Requirements for personal finance classes set for high school students in the fall

NOVI, Mich. (WKSIZ) — For Michigan students entering the 8th grade in 2023, a personal finance class will now be required before they graduate from high school.

Hopefully young people in Michigan won’t have to tackle all the financial hurdles alone now that the new personal finance class requirement is state law.

Former state representative Diana Farrington sponsored the bill, House Bill 5190.

“This plugin is great. Right? “I think we’re now the 14th state to become part of graduation,” Farrington said.

She explained that she didn’t want to tell schools exactly what to teach for the personal finance requirement, but hoped to tap into community resources.

“They have a lot of support groups to lean on, your bankers, your credit unions.” I think everyone can help them in trying to come up with a great curriculum and a robust package,” Farrington said.

She knows it’s part of the legacy she’s leaving behind now that she’s no longer a state representative.

“Oh my God, I’m so proud of it. I worked on it really hard for about 6 years. I hope it continues and stays,” Farrington said.

Anna Lindsay is 16 years old and is the first in the new gymnasium. She believes that it is a good idea to educate young people in the field of personal finance.

“We need languages, we need all these courses.” “I guess something like money and how you deal with your money when you’re older is something that’s more practical for, say, the real world,” Lindsay said.

Lindsey chose to take the finance classes that are currently optional at Novi High School.

“Recently, we just started talking about leasing a car versus buying a car. “All the things we talk about there are actually applicable to the world,” Lindsey said.

Mike Giromini is the Assistant Superintendent of Academic Sciences in the Novi School District. He explained what would change.

“It’s something that some students were getting, but not all students,” Giromini said. “Now to say that all kids are going to have this condition, that it’s something that’s going to be a natural part of their high school education, to get their diploma, is great.” It’s really important for them to have this.”

He knows what young people pay attention to these days.

“They have a feel for Bitcoin. They don’t have a strong sense of real, personal finance. What the earnings actually look like, what the taxes look like,” Giromini said.

He said he’s not yet sure how the new curriculum requirement will be implemented, but he knows what he’s hoping for.

“And what comes to mind is credit cards. How credit cards work, and how debt works,” Giromini said.



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