We may end up voting on a November proposition that would require a one-semester high school class in financial literacy.
Seems there is concern that there is not sufficient knowledge of personal finances for high school students. If this passes, the idea is that high school students would learn about paying for college, online banking, taxes, credit cards, retirement savings, the stock market, etc.
There is also a movement toward media literacy, and the governor signed a bill authored by our Assemblymember Marc Berman, D-Palo Alto, to ensure media literacy instruction will be integrated into the four core subjects all students learn from K-12th grade. Berman authored the bill because of concern that children, families and our society are being “inundated with misinformation and disinformation on social media networks and digital platforms.”
As someone in the media, I welcome discussion and education on what constitutes real news from trusted sources, but also recognize that we live in a very fluid society with constant advancements, most recently with artificial intelligence. There have even been some recent reports that AI is being incorporated into some online news sources with varying success. Since ChatGPT launched in November 2022, there have been a number of advancements but also concerns about legitimacy of information — that’s a real concern that should be addressed early and often. There could be a path forward for new legislation to address that in the classroom, but there could also be a trust established in our educational system and its local leaders.
I am absolutely certain there have been ongoing and wide-ranging discussions on AI by our educators, particularly in contending with work submitted by students. It is only natural that there are current events discussions on media, media literacy, AI, social media and how to best discern fact from fiction. I am not finding fault with Berman’s legislation, which solidifies the need and provides a broad template for all schools in the state, but I gather much of the content described in the bill is likely already being discussed in many places.
The same could be the case for financial literacy. It is likely already being discussed, but not in the detail it needs to be as evidenced by early support for the proposition. But it is also likely that those in support are parents who have had to share their knowledge with their children, thus negating the need. Again, I’m not finding fault with the proposal, just pointing out the discussions are already taking place, just not in every instance and this would solidify that.
Recommended for you
The basics of financial literacy are readily found on the internet by those with that particular interest, and anyone with knowledge of savings and investing would be absolutely delighted by questions from younger folk on the topic. Still, I have been perplexed at times by the basic lack of understanding of relatively simple finance concepts by some young people who are extremely bright. So some basic knowledge would be useful in an academic setting.
The calls for more robust education in both media and financial literacy, however, do point to an underlying societal concern — that we may not be doing enough to prepare our young people for the world. If that’s the case, it is our fault, and not theirs, and these efforts aim to rectify that. Our current educational system is often burdened by outside requirements and standards, which often limit the ability to incorporate emerging academic needs. It is with a bit of irony that we would consider adding requirements that could already be aged and could limit the ability of individual teachers to be flexible enough to engage in topics that are both important and emerging.
One of those could be, at least in my opinion, civics discussions that focus on local government structures. At times, I believe some think the only elected official in the United States is the president; there are significantly more at the state, regional and local levels who have more direct impact and accountability. The more youth know how their immediate surroundings operate, the better they can move successfully in that environment.
But again, my own desire is similar to those pushing for other types of literacy. Media and financial and, for me, civics. All these ideas are rooted in the renewed emphasis on the basics, of which we may have lost sight. I know people in their 70s who learned more about grammar in high school than I did in college. So where did we go wrong? Perhaps we haven’t provided sufficient direct input and support at the local level and instead relied on overarching mandates from above which limits the freedom of our teachers to do what we all know is best. And that’s a tough knot to untangle.
Jon Mays is the editor-in-chief of the Daily Journal. He can be reached at jon@smdailyjournal.com. Follow Jon on X @jonmays.

(2) comments
Civics, finances, and media, yes! Hoping history is thrown in there as well with the media component. It definitely would be enlightening for young people to find out just how much they are likely to earn in future occupations, and how likely it will be to actually save or invest so they can buy a home, anywhere, on those salaries.
Financial literacy is extremely important, and the younger the better. However, what concerns me about this subject being taught in school is that big mistakes can be made by students based on wrong information from the teachers. I cannot think of another subject that could be so dangerous.
Examples:
(1) Your previous column referenced in this article states "Eliza Maier, a senior, was so inspired by Rigley’s class that she opened a Roth IRA when she turned 18 and transferred money from her low-interest savings account. The class, she said, helped demystify money and the role it can play in major life choices." Truth is, one cannot make a contribution to Roth IRA without EARNED income equal to at least the amount of the contribution. In other words, money cannot be transferred to a Roth simply from the savings account as you mention. Unlawful and penalty would apply.
(2) I personally experienced a case where family member encouraged nieces to borrow huge amounts of money for college education. The girls quit college and then were strapped with huge college debt without a job. This type bad advice that could have come from schools also.
Also mentioned in your articles is that the ole 'fashioned way was to learn at home growing up. That's the safest way, if possible. Encourage self-education and Warren Buffett's .... stay out of debt.
Welcome to the discussion.
Log In
Keep the discussion civilized. Absolutely NO personal attacks or insults directed toward writers, nor others who make comments.
Keep it clean. Please avoid obscene, vulgar, lewd, racist or sexually-oriented language.
Don't threaten. Threats of harming another person will not be tolerated.
Be truthful. Don't knowingly lie about anyone or anything.
Be proactive. Use the 'Report' link on each comment to let us know of abusive posts.
PLEASE TURN OFF YOUR CAPS LOCK.
Anyone violating these rules will be issued a warning. After the warning, comment privileges can be revoked.