St. Paul, Minn. – Legislation improving financial literacy for students was presented by Senator Steve Cwodzinksi (DFL – Eden Prairie) on Monday, his first bill to get committee hearings in the 2019 Legislative Session.
The bill, SF 19, requires students to take a half-credit course in personal financial literacy as a part of their high school graduation requirement. During testimony on the bill, Senator Cwodzinski was joined by St. Louis Park High School student Yonah Davis, former personal finance educator at St Louis Park High School Sally Adams, and financial advisor and volunteer high school speaker Jason Kley, who testified to the importance of instilling strong financial literacy habits in students as they begin to make long-lasting financial decisions.
“Personal finance education needs to be a state priority,” said Senator Cwodzinski. “Young people need to have an understanding of student debt, home ownership, and savings. The more knowledge they have about these things, the easier it will be for them to become financially independent and self-sufficient.”
“I left my class (Personal Financial Literacy) everyday feeling as if I had learned something concrete and necessary for my future,” said Davis. “As a student, I believe that personal financial education has been one of the most valuable and applicable courses I have taken, and I believe that it should be made mandatory for all students.”
“Many money habits are formulated as children,” said Kley, Director of Financial Planning & Senior Integrated Wealth Advisor at Carlson Capital Management. “This bill will provide an opportunity to equip students with additional tools they may need in building a solid foundation around effective money management.”
About Senator Steve Cwodzinski
Steve Cwodzinski is a state senator who represents Eden Prairie and Minnetonka. He is a member of the following committees: E-12 Policy: Environment and Natural Resources Policy and Legacy Finance; and Veterans and Military Affairs Finance and Policy. A high resolution photo of Sen. Cwodzinski is available for download here.