Dollars AND Sense
North Bay programs prove financial literacy is worth its weight in gold
By Mallorie Deming
U nless you’ve been living under rock in recent years—which in the Sonoma County real estate market would likely have a hefty price tag—you’re likely aware of the cost of living and the strain it has on just about everyone. Younger generations especially have added pressure to succeed as they find their independence after high school and college—but how is it possible unless the financial fundamentals are instilled early on? Financial literacy in the U.S. has hovered around 50% for eight consecutive years—meaning around half of U.S. adults are financially illiterate— with a 2% drop in the past two years, according to the World Economic Forum’s data index from 2024. Notice is being taken. From local nonprofits to government sectors—the
importance of making financial literacy a core staple in classrooms and beyond is finally taking precedence. Recently, Assembly Bill (AB) 2927 was passed through the California state legislature (Gov. Gavin Newsom pledged to sign it into law later this year), which would make California the 26th state in the union to require personal finance as a high school graduation requirement. The bill will add completion requirements of a personal finance course for graduates of the 2030-31 school year, according to a press release from the California Department of Education. While this is a positive move toward a larger goal, Sonoma County nonprofits and local educators have already been making strides to instill financial literacy concepts in kids and teenagers for years. Here’s a closer look at what the community is doing to make an impact.
48 NorthBaybiz
September 2024 September 2024
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