Having had the privilege of speaking with recent graduates from 2017 to 2023, one message has come through loud and clear: the current Personal Finance Literacy course, while a valuable first step, falls short of preparing students for the complexities of today’s rapidly evolving world. The challenges faced by the average Wisconsinite, whether it is decoding convoluted healthcare terminology, grasping the ripple effects of inflation, or navigating the housing market, demand far more than a surface-level understanding of personal finances. To truly set students up for success in adulthood, we must rethink the scope and depth of this course. It is time to go beyond the basics, expanding it to include not only financial knowledge but also critical life skills. For that reason, I propose a comprehensive reimagining of this curriculum, renaming it Personal Finances and Life.
This revamped course would take a deep dive into the financial and practical topics that matter most, empowering students with the tools they need to make informed and confident decisions. Imagine a class where students do not have to guess what terms like “deductible” mean or blindly sign lease agreements without understanding the fine print. They will master the nuances of healthcare and housing terminology, gaining the skills to navigate these essential systems with confidence. Additionally, students will explore the causes of inflation and learn to connect the dots between global events, such as supply chain disruptions, and their everyday financial impacts, from fluctuating gas prices to rising grocery costs.
But the vision for this course goes even further. We must ensure students receive a robust foundation in personal investments, covering topics such as IRAs, 401(k)s, ETFs, and bonds, with a clear focus on managing risks and making informed decisions. The course would also demystify banking services, teach students how to analyze investment opportunities, and walk them through advanced tax scenarios that often leave adults confused. By transforming these traditionally intimidating subjects into engaging and relatable lessons, Personal Finances and Life will instill confidence and practical knowledge in every student.
To maximize the value of this course, I propose partnering with Northeast Wisconsin Technical College (NWTC) to align its content with their Accounting for Non-Accountants credit. By embedding all required coursework into this year long class, students would gain not only high school credit but also a head start on college level education, giving them a competitive edge as they transition to higher education or enter the workforce. This collaboration would open doors, providing students with both the credentials and the skills to succeed in a wide range of future endeavors.
Ultimately, Personal Finances and Life would serve as more than just a class—it would be a life toolkit. Our graduates should leave high school equipped with the knowledge, skills, and confidence to navigate life’s financial and practical challenges, prepared to thrive in an increasingly complex world. By investing in this expanded, practical, and forward-thinking curriculum, we ensure our students are not only ready for the future but empowered to shape it.
