by Lori Lakin Hutcherson (@lakinhutcherson)
According to hellobeautiful.com, middle school students in New Jersey are about to get some much-needed education about finances thanks in part to two women determined to make sure they learn how to understand and handle money.
Financial educator Tiffany “The Budgetnista” Aliche and Assemblywoman Angela McKnight worked in tandem to draft and advocate a financial literacy bill that would give growing children a fighting chance at the future.
Financial Literacy Bill A1414 instructs the New Jersey State Board of Education to require school districts to incorporate financial literacy instruction into curriculums for enrolled students in grades 6 through 8. Middle schoolers will be presented with vital information that has the potential to change the course of their lives by preparing them to properly evaluate their finances and deal with debt as adults.
First introduced by McKnight in 2016, the bill gained co-sponsorship from Assembly Democrats Nicholas Chiaravalloti, Eliana Pintor Marin, Jamel Holley, Benjie Wimberly and Annette Quijano. A1414 was signed into law by the state’s Acting Governor (and first ever black Lieutenant Governor) Sheila Oliver this Thursday at Jersey City’s PS 34 President Barack Obama School.
“Early financial literacy should be an essential part of every school curriculum, because it’s a critical skill needed for success in adulthood,” said Aliche via press release. “Today New Jersey took a historic leap forward in helping our children secure a brighter future. Today was a manifestation of why I started The Budgetnista; to help give people the tools the need to live richer lives,” she continued.
Regarding the bill, McKnight said, “One of the most important lessons a person can learn is how to manage their money. Many young people go into adulthood knowing little about finances, and end up making decisions that cost them in the long run.”
McKnight added, “Teaching our kids early about the importance of managing their money and making sound financial decisions can prevent them from making costly mistakes and set them on the right financial path.”