TOLEDO, Ohio (WTVG) – Governor Mike DeWine signed a bill into law Thursday requiring all high school students to complete a financial literacy class before graduating. But what is financial literacy, and why is it so important?
Many of us have heard someone say, “Why am I learning algebra? I should be learning real-life skills, like how to write a check.”
Well, that is financial literacy, and soon all high schools will have some sort of financial literacy course. Perrysburg High School actually already has one. It’s called personal finance.
“You’re learning about things like loans, interest, how to not get into debt, and what debt can do to your overall financial picture and overall financial well-being, and your ability to build a quality life for yourself and your family. Those types of skills are essential in just living,” said Rick Rettig, Perrysburg High School’s Director of Counseling.
Rettig said personal finance is one of the school’s most popular electives, and he’s happy the governor is making this mandatory for all high schoolers.
“You can’t have a great life without understanding how money can work for you or how you can work for your money. so we want to be able to help our students understand how money can help you live your life so they’re not spending their entire life working for money,” said Rettig.
Though the bill was signed into law on Thursday, it won’t actually go into effect until the 2024-2025 school year.
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