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Money Matters

September 11th, 2014 by flanews

Your finances aren’t child’s play, but some lawmakers want to start teaching kids about money in school at a young age. As Matt Galka tells us, the proposal will be resurrected next year.

The “Money Course” will be back on the table in 2015, but many say the stand alone financial literacy class should already be in action.

“Research overwhelmingly shows that student that come from states who require a course are less likely to incur debt and make risky financial decisions, and basically are more stable financially,” said Mark Anderson with the Florida Council on Economic Education.

Supporters say that the money course can keep students from going broke at a young age.

“Credit cards and student loans, those are things that kids are going to be facing right out of high school, and if they’re not prepared to deal with it they’re going to be facing the consequences of those bad decisions for years,” said Anderson.

Financial literacy, which is currently taught along with social studies, would be a half-credit core high school class under the proposal. The state’s Department of Education says creating the class won’t cost that much. Estimates range from $200,000 to $8 million depending on whether or not a textbook is needed.

The bill had considerable support in 2014. Senate Sponsor Dorthy Hukill lead the charge in her chamber.

“How do I sign a lease, what does it mean? What does a debit card mean? Kids are more in debt now than ever before,” said Sen. Hukill in April.

The Senate wasn’t the problem in 2014. The proposal failed to cash in with members of the House last session.

One big thing still being sorted out: when the class would start in Florida. Even supporters say if the bill passes in the Spring, it will be very difficult to have a class ready for the following school year.

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