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Michigan Educators Gather to Prepare for High School Personal Finance Requirement

mdecIn June 2023, the Michigan Board of Education passed personal finance content expectations that students should be proficient in prior to graduation. These content expectations are very broad categories that generally align to the National Personal Finance Standards from the Council for Economic Education and JumpStart.

On Dec. 7, more than 30 secondary educators from 20 different school districts, joined together to begin the process of taking the broad content expectations passed by the Michigan Board of Education and developing more specific knowledge students should have after taking a course in Personal Finance. Development of specific learning outcomes will also help teachers and school districts design appropriate curriculum as they design their courses moving forward.

“Empowering Michigan youth with a personal finance course as a graduation guarantee is not just an education decision, it’s a foundational step towards a financially secure future,” said Derek D’Angelo, president of the Michigan Council on Economic Education. “By equipping students with tools and knowledge to manage their finances effectively, we are setting them up for a lifetime of informed decisions, economic stability, and the ability to navigate the complexities of the modern financial world with confidence and competence.”

Michigan credit unions are significantly engaged with youth/teen financial education, and many partner with their local schools to operate student-run credit union branches, classroom presentations, Financial Reality Fairs and more.

Lake Michigan Credit Union (LMCU), based in Grand Rapids, sponsored the recent Personal Finance Learning Outcome Development event and Aldina Babic, community relations manager, attended and helped facilitate discussions.

“Rooted in our history, founded by an educator 90 years ago, LMCU remains dedicated to strengthening our commitment to education. We are deepening our efforts to expand educational initiatives, collaborating with local schools, and organizations to equip teachers with the tools to nurture financial literacy and well-being among students,” said Babic. “We believe that by advocating for and implementing financial education, we’re providing educators with valuable resources to empower students to navigate personal finance complexities, fostering responsible decision-making and lifelong stability.”

“The success of this effort hinges on the expertise and dedication of the educators in classrooms across the entire state,” continued D’Angelo. “It’s essential to ensure that teachers are not only well-versed in financial concepts but are also equipped with the proper tools and training to effectively convey this knowledge. The impact of a well-trained teacher in personal finance is immeasurable – they are not just teaching a subject but are shaping future generations for financial success.”

 

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