82% of respondents in a National Endowment for Financial Education (NEFE) survey say they wish they had at least one personal finance class in school. That number says a lot, particularly when you think about how deeply money shapes nearly every part of life.
Money skills, like budgeting and managing credit, are essential life skills. And yet, many US high school students graduate knowing more about mitochondria than managing a paycheck. That disconnect is costly.
Financial literacy is one of the strongest building blocks for stability and long-term prosperity. When students don’t get those skills early, they carry the weight later. In this article, we’ll break down the key reasons why schools should teach financial literacy, what’s holding them back, and what educators and parents can do to bridge the gap.
Key Points
- Many students graduate without basic money skills like budgeting or managing debt, leaving them unprepared for financial independence.
- Teaching financial literacy in schools builds healthy lifelong habits and opens the door to more equitable opportunities for every student.
- Students who understand money tend to make better decisions, strengthening their communities and contributing to long-term economic stability.
- Parents and educators can make progress right now using free tools, real-world simulations, and classroom-ready resources to close the gap.
The Case for Teaching Financial Literacy in Schools
There’s a clear case for why schools should teach financial literacy. Money touches every part of life. The skills behind it, such as understanding a paycheck, budgeting for groceries, building credit, or filing taxes, are skills that every student will need. It doesn’t matter the career path.
School is where we prepare students for the real world. We teach math, science, reading, and history to help them navigate life. But leaving money skills out of the classroom assumes every student will learn them at home.
According to Intuit’s high school financial literacy findings, 81% of high school students receive financial education from their parents or guardians. But the quality of that education can vary widely. After all, not every family has the same financial experience or information to share.
Bringing financial literacy education into schools helps level the playing field. It gives students of all family backgrounds a fair shot at financial confidence and independence. And in a world where a single credit mistake can follow you for years, that kind of preparation is invaluable.
5 Reasons Why Financial Literacy Should Be Part of Education
Academic subjects matter, but real-world money skills shape how students move through adulthood. This begs the question: Why isn’t financial literacy taught in schools everywhere?
The good news is that more schools are realizing the importance of financial education. States and school systems are gradually adopting clearer frameworks and dedicated financial literacy coursework. Momentum is building, but access still depends heavily on where a student lives. And many classrooms don’t yet have a fully developed curriculum in place.
Here are 5 compelling reasons why schools in other states should consider incorporating financial literacy into their curricula.
1. Financial Literacy Prepares Students for Real Life
Starting life after graduation without money skills is like being handed a car with no keys. Students walk straight into a world of bills, credit cards, taxes, and student loans, yet many don’t understand how any of it works.
Teaching financial literacy early gives them a solid footing. When students know how to manage their money and make informed choices, they’re far less likely to stumble into costly mistakes. Instead of scrambling, they can focus on building the kind of life they want with confidence.
2. It Helps Reduce Debt and Build Healthy Money Habits
Bad habits are easy to form and hard to break. Without financial education, many young adults may rely on credit cards to get by or ignore bills until debt piles up.
And the numbers reflect this. A staggering 90% of American households hold some type of debt. Total household debt has topped $18 trillion, rising more than $4 trillion since 2019.
Giving students a strong financial foundation helps break that cycle. When they understand how credit works and how to manage spending, they’re far better equipped to avoid high-cost debt and build habits that support long-term stability. The earlier these skills take root, the easier it is to stay financially grounded for life.
3. It Levels the Playing Field for All Students
Earlier, you saw that most high school students say they learn about money from their families. But there’s another side to that story: Only 38% of American adults say they learned about finances from their families, according to the American Bankers Association. That means many parents, often the primary source of financial guidance, are trying to teach skills they never had the chance to learn themselves.
The result is uneven, inconsistent financial education across households. Some students grow up with strong money conversations. Others enter adulthood without the basics simply because no one at home felt confident teaching them.
Teaching financial literacy in schools gives every student access to the same foundation. With thoughtful instruction and trusted resources, schools can correct misinformation and fill in gaps. It’s one of the most effective ways to help students from all backgrounds build confident, capable futures.
4. Financial Literacy Supports Economic Growth and Stability
When more people understand how to manage money, entire communities benefit. Financially literate individuals are more likely to avoid debt, build savings, start businesses, and invest in their futures.
That adds up. Long-standing research shows that when populations improve their financial literacy, they tend to accumulate more wealth and face fewer financial shocks. That lifts not just households, but communities.
5. Students Want and Need These Skills
Today’s students are asking for real-life lessons about money. The Intuit survey referenced earlier found that 85% of teens wish they were taught more about finances in school. They’re curious about building wealth (43%), learning how to save (40%), and understanding how to avoid debt (37%). All are clear signals that young people want guidance that prepares them for adulthood.
The desire to learn is there. Now, the challenge becomes providing them with the right information in a way that lands.
Why Isn’t Financial Literacy Already Taught in All Schools?
As more people ask why schools should teach financial literacy, the answer often comes down to infrastructure rather than willingness.
Many schools are stretched thin. Between standardized testing, staffing shortages, and overloaded curricula, there’s not always room to add new subjects. Additionally, not all educators feel adequately equipped to teach personal finance. Without training or ready-to-use resources, it can be a difficult lift.
But it doesn’t have to stay this way. More states are adopting financial literacy standards, and accessible tools are making it easier for educators to bring these lessons into the classroom. Intuit supports this momentum with tools that make teaching financial literacy easier—no finance degree required.
How Educators and Parents Can Support Financial Literacy Today
We don’t need to overhaul the school system to make progress. Teachers and administrators can begin incorporating financial literacy into everyday learning right now.
Educators can start by incorporating real-world tools and online resources that enable students to apply financial literacy to real-world scenarios without leaving the classroom. Parents can also play a role by talking openly about core financial concepts at home. Even small conversations can make a big impact.
Small steps from the adults who show up for students every day can spark lifelong habits and move the next generation toward a more financially secure future.
Building the Future Through Financial Literacy Education
Financial literacy is a core skill every student deserves. When schools teach it, students leave the classroom with more than just a diploma. They walk out with real-world confidence and the ability to shape their own financial futures.
At Intuit, we believe financial education should be accessible to everyone. That’s why we created Intuit for Education, a free financial literacy program that helps schools bring money skills to life through fundamental tools and curriculum.
FAQs
What percentage of schools teach financial literacy?
More than half of US states require students to take a stand-alone personal finance course before graduating high school. That means millions of students still leave school without formal financial education. While momentum is growing, there’s still a long way to go to make financial literacy a national standard.
What are some potential downsides of making financial literacy mandatory in school?
The biggest challenge might be finding space in already full school schedules. Some worry it could take time away from other subjects or stretch schools that lack trained educators. But with flexible, ready-to-teach programs available, these barriers are manageable.
What is the ideal grade level to start introducing financial literacy?
Middle school can be a strong starting point. Students at that age are beginning to grasp the basics of money and can wrap their heads around core concepts like budgeting and needs vs. wants. Starting early builds a foundation they can grow through high school and beyond.