Wyoming Financial Literacy Standards
When it comes to standards for financial education in schools, Wyoming has room to improve. In 2015, a National Report Card issued by Champlain College indicated that the Equality State received a “D” grade for its current financial instruction requirements. The “D” designation is supported by the fact that Wyoming requires no specific personal finance courses as high school graduation criteria.
While Wyoming requires three years of social studies – of which economic systems and institutions form one piece – to be taught as part of students’ social studies credits, the personal finance concepts included in the economics curriculum are minimal. Wyoming’s Career and Vocational Education standards also include a modicum of personal finance subject material.
The Council for Economic Education researches state standards for financial education, and currently indicates that Wyoming does not include personal finance in its K-12 standards and requires no high school course to be offered/taken.
National Standards for Financial Education
Financial Literacy Standards for Older Youth & Adults (High School through Adults)
Although there is no direct mandate by the California State Board of Education, it is recommended that national standards be implemented. Financial education is a unique subject; all participants have developed financial habits and relationships with money before instruction begins.
National standards are those that have been proven in empirical and theoretical research to produce the highest improvements in participant test scores.
Financial Literacy Standards for Kids (Kids PK through 8th Grade)
In collaboration with education leader Heidi Jacobs, the NFEC created these financial literacy standards to define learning goals and educational targets for optimal child financial education. Guided by strong pedagogical theory, the standards ensure that instructional targets are age- and developmentally-appropriate and that lessons can be effectively scaffolded. Standards represent five sections based on topic areas in the NFEC curriculum.
Standards for Financial Education Instructors
The NFEC teamed with the well-known Danielson Group to develop the first and only national standards for financial educators – The Framework for Teaching Personal Finance – to define optimal educator skill sets and performance levels. The framework also identifies the financial educator responsibilities empirically proven to produce highest gains in participant test scores. This framework is used in all 50 states, including California.
