Personal Finance, once considered an elective for high school students, is now required for a high school diploma. Starting with the Class of 2028, every high school student will take the semester-long course. For many families and business leaders, this is welcome news to better prepare students for the realities of adult life.
The Personal Finance course aims to do more than help students balance a budget or understand credit. It empowers them to make thoughtful, informed financial decisions based on their unique life goals, experiences, and values.
“We want students to be able to navigate the financial systems they’ll encounter – and do so with confidence,” said Eastview teacher Paul Theirl. “That means understanding not only how to manage your money, but also the psychology behind financial choices.”
A Curriculum Grounded in Six Core Themes
The Personal Finance course is built around six core content areas, aligned with state standards and developed into lessons that are both academic and practical:
- Financial Psychology – Students explore how advertising, emotions, and family history shape financial choices, launching students into the course through self-reflection. What do you want to get out of life, and what do you want money to do for you? Each student sets a personal SMART financial goal to revisit throughout the quarter or trimester.
- Earning an Income – Students learn to evaluate jobs by looking at total compensation packages, including benefits like health insurance, retirement accounts, and paid time off, and not just salary. They research careers based on their own values – whether that’s earnings, work-life balance, or pursuing a passion.
- Financial Systems – Students examine banks, credit unions, and other financial institutions, understanding different types of accounts and interest, and learning how to evaluate financial services. Cash-only systems are also discussed.
- Credit and Debt Management – Students explore how credit cards, loans, and mortgages work, including interest rates and terms. They’ll learn the long-term impact of credit decisions and how to maintain healthy credit scores.
- Risk Management – From car insurance to health coverage, students are introduced to different types of insurance and the roles they play in managing life’s uncertainties. They’ll understand terms like deductibles, premiums, and coverage limits.
- Budgeting and Investing – Students build budgets, track expenses, and explore the basics of investing. Through stock market and mutual funds simulations, they learn about diversification, compound interest, inflation, taxation, and long-term planning.
At the end of each unit, students complete a portfolio project related to their original SMART goal, giving them a personalized, reflective learning experience that builds over time.
Real-World, Hands-On Learning
“We want the course to be engaging, because students get the most out of classes when they can see themselves in the activities; they can understand how the concepts apply to their lives,” Theirl said. That’s why the curriculum includes interactive activities: comparing savings account options, creating mock investment portfolios, and even researching jobs and choosing where to live based on a realistic budget.
Assignments are not just about numbers – they’re about decision-making. One unit, for example, asks students to compare three job offers with varying salaries, benefits, and time commitments. Which one is the best fit? That depends on the student’s own goals and lifestyle priorities.
E-commerce, marketing, and online tools are also discussed. “The world has changed. We’ve moved from checkbook registers to fintech; everything is online,” noted Rosemount teacher Kyle Paulson. “In a world where everything seems instant, students need to understand that their bank account balance might not reflect recent transactions. It’s essential students know how much money they actually have, not just what their screen shows.”
Changing the Conversation About Money
One of the most significant aspects of the course is its intentional connection to family and cultural values. “Money can be a difficult topic to talk about with family,” teachers acknowledged. But by encouraging students to bring their learning into family conversations – about spending, saving, values, and goals – the course aims to normalize those conversations. It’s not about telling families what to believe; it’s about giving students the tools to understand their own financial world and ask thoughtful questions.
“Up until recently, schools didn’t teach kids how to manage money,” Theirl said. “That was detrimental to individuals and our society. Today, it’s just as important as reading or math. It’s not something you just know – we need to teach them.”
According to various studies, the payoff is significant: Students who take personal finance courses are likely to save more over their lifetimes, enjoy higher credit scores, and make smarter financial decisions. We’re empowering students to build a future where they feel in control of their financial choices.