‘Adult 101’ Classes to Teach Financial Literacy Head to Florida High Schools Next Year

Florida is set to join six other states in requiring high school students to take a financial literacy course in a few years, something a financial adviser has long called for.

Starting with the Class of 2027, which will enter high school next year, all high school students will be required to take financial literacy courses to graduate. Sometimes called “Adulting 101,” the course will replace an elective course.

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Topics covered include:

  • Types of bank accounts offered, opening and managing a bank account and assessing the quality of a bank’s services.

  • Balance a checkbook.

  • Basics of money management, such as spending, credit, credit scores, and debt management.

  • Complete a loan application.

  • Receiving an inheritance and related implications.

  • Basic principles of personal insurance policies.

  • Federal income taxes.

  • Local tax notices.

  • Calculation of interest rates.

  • Simple contracts.

  • Dispute an incorrect billing statement.

  • Types of savings and investments.

  • State and federal financial laws.

Chris Dixon, managing partner of Orlando-based Oxford Advisory Group, said foundation courses would reduce the number of young people going into debt before their adult life really begins, setting them up for success.

“It’s still a lot of misconceptions and misnomers,” he said. “How can I build my credit? Do I want credit cards? Do I want to cut them? Graduates will face this entitlement when they graduate.

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Often, he said his retired clients don’t know some of the fundamental concepts that can help them save money.

Recent studies have shown that two-thirds of adults do not consider themselves financially competent – ​​a problem, he said, as many face mounting debt.

“Often huge debts are not necessary,” he said. “The colleges will love it – if you’re willing to give them the money, they’ll take it, right? But financial literacy will help assess, do I need to make loans? If yes how much ?”

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