2023 has been an exciting year for financial education efforts across the country. We’ve seen states like Indiana, West Virginia, Minnesota, Connecticut and Louisiana create standalone financial education requirements. Oregon and Montana were also able to pass new requirements that integrate key financial education topics into required coursework. As a coalition, we are thrilled to have supported efforts to not only create additional education requirements but to have supported professional development efforts to ensure educators are prepared to teach this critical knowledge to students.
To celebrate the continued wave of support for financial education, we want to highlight some of our work from this past year that we look forward to replicating and improving come 2024.
Elevating YOUR Voices
We are constantly looking for new ways to elevate your voices and perspectives. Before the passage of SB 35 in Indiana, we activated our advocates located in the state to reach out to their representatives that were hesitant to support the legislation. One of our advocates sent a personalized letter urging their members to support the legislation due to the state’s dire need for financial literacy. Advocacy like this is what helps get financial education legislation across the finish line.
FinEd50 also had the opportunity to support student and educator voices in Oklahoma. We worked closely with the Oklahoma Council for Economic Education to coordinate a panel that consisted of teachers and students to discuss the importance of financial education in their state. Their discussion was full of impactful insights and personal experiences that made a solid case for a financial education requirement in the state. We look forward to continuing our work in the state in 2024.
Building Personalized Advocacy Efforts
Another critical component to our work is ensuring our advocacy efforts are led by local partners and the political circumstances in each state. To do this, we work to support partners in every state to start and lead conversations about financial education. This year, we had the opportunity to co-host a panel with NEFE at the National Association of State Treasurer’s conference in Portland, Oregon. Our session focused on highlighting premier research and aiding treasurers on how to craft an advocacy campaign in their state. Sessions like these help leaders understand the existing research and how they can use that research along with personalized state data to make the case for financial education.
We were also able to launch our sponsorship tiers this year, which allows organizations to fund professional development efforts in their state. For FinEd50, advocacy doesn’t end after the passage of a finance education requirement. Instead, we continue our work to connect partners with opportunities to fund professional development. It is critical that we support educators before and after the passage of a new requirement.
Growing in Numbers
FinEd50 has continued to grow in 2023, welcoming CUNA, Step, W!se, AFCPE and Operation Hope to the coalition. New partnerships allow us to expand our access across the country, increase our access to advocates, and diversify the voices within our coalition. We look forward to continuing to work with our existing partners and welcoming new members in 2024.
What’s in store for 2024
There are still a number of states considering financial education requirements going into the new year. We will continue our work in Pennsylvania, New York and Oklahoma, while also working with partners in states like Massachusetts, Delaware, Maine and California to help their states prioritize financial literacy and expand access. As always, we are eager to contribute anywhere we can, so if there are efforts to expand financial education in your states let us know through our contact us form!
One of our founding partners, the Council for Economic Education, will be releasing their latest Survey of the States report in February 2024. This will give us a fresh look into education standards across all 50 states (and DC). We are excited to work with this new data to celebrate our successes and learn more about where our advocacy efforts are needed.
Thank you all for your support this past year! We are excited to continue our work in 2024 to bring financial education to every state across the country.