MADISON – Assembly Bill 109 (AB 109), a bill authored by Rep. Alex Dallman (R-Green Lake) that would require one-half credit of personal financial literacy for high school graduation passed the Assembly with a bipartisan supermajority on Wednesday. Rep. Jessie Rodriguez (R-Oak Creek) explained her support for the bill:
“Ensuring our youth learn about balancing a budget and how loans and other financial tools work before they turn 18 and become adults is crucial to their future success,” commented Rep. Rodriguez. “AB 109 will make sure our high school students are learning important topics such as credits and debits, savings, investments, and loans or other lines of credit before graduation.”
According to the Wisconsin Department of Financial Institutions (DFI), 52% of Wisconsin residents are living paycheck-to-paycheck. 69% of Americans have less than $1,000 in savings. Wisconsin is not alone in looking to address these alarming statistics by requiring all high school students to take a stand-alone personal finance course in order to graduate. 19 states already have such a requirement.
“The majority of American teens lack confidence in their knowledge of personal finance. AB 109 makes sure that the schools in our state are doing the due diligence to help Wisconsin teens learn financial literacy before they become financially independent. Starting an adult life with an understanding of personal finance can help the next generation as they head off to college or join the workforce,” concluded Rodriguez.
