Do Americans know how to manage money? Some of the statistics aren't encouraging. About 63 percent of the nation's residents could not pass a basic financial literacy quiz. According to the Federal Reserve Board, 40 percent of U.S. adults don’t have enough savings to cover a $400 emergency.
This reality has prompted some to wonder whether students are learning enough about how to manage money. According to the Center for Financial Literacy at Champlain College, they're not.
In 2017, the center gave 27 states a grade of C, D, or F on “their efforts to produce financially literate high school graduates.”
Recently, several states have made financial literacy lessons more of a priority for students even before they're old enough to get a job.
In November 2017, then-Wisconsin Gov. Scott Walker signed a bill requiring school districts to incorporate personal finance into kindergarten through 12th grade instruction. Last year, Iowa and Kentucky made completion of a financial literacy class a graduation requirement.
Read more in Governing.