Thursday, March 21, 2024
The Wisconsin Standards for Personal Financial Literacy were released in June 2020, just after COVID-19 shut everything down—an anticlimactic launch for sure. But with the passage of Act 60, requiring 0.5 credit of personal financial literacy (PFL) for high school graduation, interest in the standards has risen and the time is right to reintroduce them.
Wisconsin is known as a leader in establishing PFL standards, and the state led the way again with a strand of the standards called “Financial Mindset.” This strand includes the values, emotions, attitudes, behaviors, and external influences that lead to mental habits for thinking about and responding to any financial circumstances. It offers the “why,” where the other strands outline the “how”:
- Financial Mindset
- Education and Employment
- Money Management
- Saving and Investment
- Credit and Debt
- Risk Management and Insurance
The standards cross all grade levels and disciplines. A comprehensive, developmentally appropriate pre-kindergarten through grade 12 program can promote personal financial literacy throughout numerous curricular areas.
For educators just getting started in PFL, DPI’s Personal Financial Literacy page provides a wonderful introduction.
Financial Literacy Month
April is National Financial Literacy Month and Money Smart Wisconsin Week 2024 is April 6-13. It is celebrated every year to empower people with the knowledge and skills needed to make well-informed personal finance choices. The world of finance and banking can often seem daunting, especially if you are uninitiated or have no professional help available. The good news is that it’s never too late to learn. Consider this week as an opportunity to educate yourself or your students on all those difficult financial terms and get tips on how to properly handle your hard-earned money.
If you’re looking to get your students involved in Money Smart Wisconsin Week, look no further. What better way for high school students to learn financial concepts than by teaching their younger counterparts about money? JumpStart Coalition is offering their Teen Teach-In event during Financial Literacy Month and are looking for high school teachers to participate. Learn more about their Teen Teach-in or sign up today, if you want to take part in this exciting event!
Be sure to look over Wisconsin's Personal Financial Literacy page and dig into the many resources available.