Major Push for Personal Finance Education in California
Today, Californians for Financial Education announced the submission of nearly 900,000 petitions to qualify the California Personal Finance Initiative for the November 2024 Statewide Ballot. At a press conference in Sacramento, California State Controller Malia Cohen and advocate Tim Ranzetta joined supporters to highlight the measure, which aims to ensure all California high school students receive a personal finance course before graduation. The substantial number of signatures collected reflects widespread support for this important educational reform.
Ensuring Financial Literacy for Future Generations
Tim Ranzetta, co-founder of Next Gen Personal Finance, emphasized the importance of the initiative, noting that California high school students deserve the same financial education opportunities as their peers in 25 other states. Seventeen of these states have implemented similar requirements in just the past three years. By adopting this measure, California can equip its students with crucial financial skills, helping them to navigate their financial futures more effectively.
Support and Impact of the Personal Finance Initiative
The initiative requires 546,651 valid signatures to qualify for the ballot, and with over 880,000 signatures submitted, it comfortably exceeds this threshold. Starting with the graduating class of 2030, the measure mandates a stand-alone, one-semester personal finance course as a graduation requirement. According to a Binder Research survey conducted in August 2023, nearly 80% of Californians support this change across all demographics. Furthermore, a 2024 report by Tyton Partners estimates that such a course could provide an additional $127,000 in lifetime financial benefits for each student.
Key Endorsements and Broader Implications
California State Controller Malia Cohen highlighted the initiative’s significance in promoting equal access to essential life skills. Superintendent of Public Instruction Tony Thurmond praised the measure for addressing the urgent need for financial education among young people, empowering them with the skills to manage personal finances effectively. California State Treasurer Fiona Ma also supported the initiative, emphasizing the long-term benefits of financial literacy in fostering economic stability and fairness for future generations.
For more information, visit the Californians for Financial Education website at financialed4ca.com.
Paid for by Californians for Financial Education
Committee Major Sponsors
- Timothy Ranzetta
- Bill Gurley
Media Contact
Roger Salazar (916) 284-1255