Abstract:

Overall, this paper will argue the concept that the following concepts are not only important but vital to the success of the United States regarding financial literacy, economics, and overall progress: Preparation for life after high school, basic financial literacy and collective progress and quality of our country as it moves forward from recent recessions. Preparation is imperative after high school because it tends to be when students become more independent and starting them off on the right foot is imperative. Secondly, general individual financial literacy helps to lift communities, individuals, and families out of poor situations and establish generational wealth, as well as provide more taxes for cities, states, and the country to grow. Finally, this is important because it also helps to, overall, further the goals of the country in a global economy and keep up with a rapidly changing and expanding world

Thesis:

It should be mandatory that high schools across the country that operate in the public sector and receive public funding teach finance Classes for multiple years to students in order to prepare them for life after high school, educate them on the ins and outs of basic finance, and overall to lift the financial intellect of our country to progress and avoid the pitfalls that we have historically and recently experienced.

Finally, this is important because it also helps to, overall, further the goals of the country in a global economy and keep up with a rapidly changing and expanding world.

Location:

Florida should implement this in Florida Public Schools. This will help be a pilot program that will demonstrate over time that providing these classes lifts up the disenfranchised, marginalized, and lesser-privileges groups of students. This will disproportionately affect those who have not had historical access to financial literacy such as communities of color and poor communities. Miami Dade and Broward are an excellent pilot county because it has a good amalgam of all of these populations and has a fairly well-established public-school system.

Curriculum:

The Curriculum shouldn't only be a book but include a platform. The tenth grade would learn economics, 11grade Finance, and lastly 12 Stock Market.

Challenges of this research:

1. Time. Overall, these types of projects and research programs take time. It is impossible to tell if a financial literacy course given through three grade levels will have a positive effect on a student unless you research them for several years after they leave high school

2. Funding: Basically, schools have already had to cut funding to core classes such as home ec, which taught some of this, as well as art, music, sports, etc. So, to include this is also to ask schools to find funding to have teachers that know this subject on staff.

3. Curriculum: In order to study this correctly, all schools would have to follow a similar if not identical curriculum in order for it to be replicated if successful. One school cannot have a different way to teach this than another, or else you won't know that is truly successful or not.

Sources:

1. Farinella, J., Bland, J., & Franco, J. (2017). THE IMPACT OF FINANCIAL EDUCATION ON FINANCIAL LITERACY AND SPENDING HABITS. International Journal of Business, Accounting, & Finance, 11(1).

2. Grohmann, A. (2018). Financial literacy and financial behavior: Evidence from the emerging Asian middle class. Pacific-Basin Finance Journal, 48, 129-143.

3. Xiao, J. J., & O'Neill, B. (2016). Consumer financial education and financial capability. International Journal of Consumer Studies, 40(6), 712-721.

4. Walstad, W. B., Tharayil, A., & Wagner, J. (2016). Financial literacy and financial education in high school. In Handbook of Consumer Finance Research (pp. 131-140). Springer, Cham.