I’m a Teacher and My State Just Mandated a Personal Finance Course… What Now!?

Kayla Czappa -

Personal Finance mandates are a long needed addition to modern education. One which many states have jumped on board with, requiring high school students to complete either a full or half credit of personal finance education prior to graduation. Although mandates such as this are great for the students, we understand the stress that building a whole new curriculum can put on teachers. 

So, how do you as a teacher switch gears and form new strategies and lesson plans focused on teaching personal finance? Here are some beginning tips that might help you transition into this powerful movement swiftly, without too much stress.

Understand the Requirements

Start by getting a strong grasp of what personal finance topics are required for your state and school district—yes, they differ based on state. Obtain a copy of the state-mandated personal finance curriculum or the existing state education standards and familiarize yourself with the topics, learning objectives, and any specific guidelines provided by the state education department. 

To help, we’ve provided a list of each state that has passed or is considering a finlit course mandate below. This list includes helpful links so you can get a good idea of what legislation was passed. Don’t forget to ask your district’s admin for any further details you may need for your specific state or district:


States with existing legislation:

States that require students to take personal finance credits prior to graduation (HB=House Bill, SB=Senate Bill, AB=Assembly Bill, HF=House File): 

  1. Alabama (HB 164)—passed February 5, 2023, 
  2. Connecticut (SB 1165)—enacted June 7, 2023,
  3. Florida (HB 1115)—effective July 1, 2022, 
  4. Georgia (SB 220)—passed April 28, 2022,
  5. Indiana (SB 35)—signed into law May 4, 2023, 
  6. Iowa (SF 2415 initially passed in 2018, but later legislation (SF 139) may have changed the implementation date of SF 2415 to 2020], Iowa Administrative Code 281-12.5(17)(d)): Bill Overview—initial pass May 3, 2018, 
  7. Kansas (HB 2039)—passed April 24, 2023, effective April 27, 2023,
  8. Louisiana (HB 103)—enacted June 9, 2023, 
  9. Michigan (Section 380.1278a of Revised School Code & HB 5190—signed June 16, 2022), 
  10. Minnesota (H.F. 2497)—signed by the Governor on May 24, 2023,
  11. Mississippi (Mississippi Administrative Code Title 7: Education K-12 College & Career Readiness Course), 
  12. Missouri (Missouri Department of Education)—mandated at the state level in 2017, 
  13. Nebraska (Bill 452)—approved by the Governor May 25, 2021,
  14. Nevada (AB 274)—passed on May 24, 2023,
  15. New Hampshire (HB 1671)—signed by Governor June 24, 2022,
  16. North Carolina (HB 924)—enacted July 8, 2019,
  17. Ohio (SB 1)—passed May 12, 2021,
  18. Oregon (SB 3)—signed by Governor July 31, 2023 Bill Overview,
  19. Pennsylvania (Act No. 14 of 1949 established a broader education framework but another proposed bill—SB 647—proposing the addition of a standalone personal finance class has been incorporated into an omnibus bill or a larger bill containing a bunch of smaller ones and is still in progress.
  20. Rhode Island (Title 16 Education—the Rhode Island Board of Education Act). While Rhode Island doesn't have a specific bill listed, they require personal finance proficiency for graduation as of 2024.
  21. South Carolina (SC Code Title 59-29-165),
  22. Tennessee (Financial Literacy Program Act of 2010)—enacted on June 23, 2010, 
  23. Texas (SB 1063)—passed June 8, 2021, 
  24. Utah (SB 154)—signed March 24, 2003, effective May 5, 2003, 
  25. Virginia (Title 22.1. Education § 22.1-200.03)—requirements developed around March 26, 2005,
  26. West Virginia (HB 3113)—finalized on March 3, 2023,
  27. Wisconsin (Wisconsin Act 60)—signed December 6, 2023.

States with laws in progress:

Some states are passing initiatives or mandates that won't be required for several years; so you can prepare now to teach financial-focused lessons in the future and spread out the onboarding efforts over the next several years. 

  1. Hawaii (SB 702/3 bills in progress)
  2. Illinois (HB 4658)
  3. Massachusetts (H.4199)
  4. Montana (HB 535)
  5. New Mexico (HB 246)
  6. New York (Multiple bills in progress)
  7. Oklahoma (HB 3727)
  8. Vermont (H.228)

It's important to note that even if these bills pass, mandates might take a few years to be implemented—this is true for bills that have already passed as well!

Seek Out Financial Literacy Resources, Both Online and Offline

Take the time to educate yourself on the basics of personal finance—there are great online resources out there to help. Many of Banzai’s local sponsors offer free-to-access Wellness Centers with Coaches, articles, calculators, and more! Check them out or take advantage of Banzai’s free school product that offers courses covering a variety of life and financial literacy topics. 

Other ways to expand your knowledge outside the digital world include reading books and attending workshops to deepen your understanding of key financial concepts. Once you’ve found the resources you like, start collecting relevant textbooks, articles, videos, online simulations, and other educational materials to supplement your lessons.

Develop a Lesson Plan 

Divide the curriculum into manageable units or modules based on the topics covered. Then, develop detailed lesson plans for each unit/module, including learning objectives, instructional activities, assessment methods, and resources needed. Consider incorporating a variety of teaching methods such as lectures, group discussions, case studies, and hands-on activities to engage students. 

Invite guest speakers from local financial institutions to share their expertise with your students. Banzai’s free teaching platform provides a powerful bridge for our teachers to communicate easily with their local sponsor—a financial institution that’s already shown an interest in helping students in their area learn personal finance concepts. Sign up for free with Banzai to get to know your local sponsor today!

Promote Active Learning

Consider the age, grade level, and prior knowledge of your students when designing your lessons. Tailor your teaching approach to meet the needs and interests of your students, making the content relevant and engaging.

Encourage active participation and critical thinking by incorporating interactive activities and real-life examples into your lessons. Encourage students to apply the concepts they learn to their own or family financial situations.

One way to spark a connection between the educational content and the student’s home finances is to encourage them to track their family’s or their own finances for a whole month. Ask that they jot down how much money they spend on groceries, bills, entertainment, etc. Then invite them to do research on how much income is made each month. 

If there are students or parents who feel uncomfortable with this, create a fake scenario for them to analyze, then encourage them to find ways to save money and to set and accomplish financial goals. If you don't want to come up with it yourself, don't worry! We have you covered with our Consumer Smarts course.

Assess Student Learning

Develop formative and summative assessments to evaluate student understanding and mastery of the material. This could include quizzes, projects, presentations, and exams. Provide constructive feedback to help students improve their financial literacy skills.

A great thing about Banzai’s free interactive content is that the school platform instantly shows student progress with a powerful grading interface. It provides teachers with automatically graded units, in-depth student decision reports, and classroom analytics to help you organize your teaching materials and plan lessons effectively.

Stay Informed

Keep abreast of changes in the financial landscape, such as new laws, regulations, and emerging trends. Update your curriculum and teaching materials accordingly to ensure that students receive accurate and relevant information. If there’s a hot topic that students are hearing about on social media or in discussions with their parents, it may be worth incorporating it into your lesson to build interest.

Take time to reflect on your teaching practices and gather feedback from students to identify areas for improvement. Continuously refine your teaching strategies and content delivery to enhance student learning outcomes.

The mandates for personal finance education in schools represent a crucial step toward equipping students with the necessary skills to navigate the complexities of modern financial systems. While the task of adapting to this new curriculum may seem daunting, it also presents an opportunity for professional growth and empowerment.

By understanding the specific requirements set forth by state mandates, seeking out diverse resources, and developing comprehensive lesson plans, teachers can effectively transition into teaching personal finance. Emphasizing active learning strategies and real-life applications ensures that students are engaged in your lessons and equipped to apply their knowledge beyond the classroom.