California Expands Financial Literacy in Schools and Wealth-Building for Women
Governor Newsom announces statewide personal finance curriculum for high school students and signs executive order to expand women's access to capital and wealth-building opportunities.
Governor Gavin Newsom announced California will implement a standalone, one-semester personal finance course for high school students to equip graduates with tools to manage money, avoid debt, and build wealth. The State Board of Education adopted a curriculum guide and resources, implementing Assembly Bill 2927 (McCarty), signed by Governor Newsom in 2024.
The curriculum includes banking, saving, and avoiding unnecessary fees; budgeting and managing everyday expenses; credit, debt, and credit scores; student loans and financing higher education and careers; investing, retirement savings, and wealth-building tools; and pathways to college, careers, and apprenticeships.
The course will be offered in the 2027–28 school year, with completion required for graduation starting with the class of 2030–31.
Governor Newsom also issued an executive order to expand women's access to capital, savings, and investment opportunities, signed during Women's History Month with First Partner Jennifer Siebel Newsom and the California Women's Wealth Advisory Council.
"Financial literacy is a life skill," said Governor Newsom. "We're making sure every California student graduates ready to earn, save, invest, and build wealth, while also expanding access so more women and families can fully participate in our economy."
In 2022, Governor Newsom established CalKIDS, a college and career savings program for low-income children. The program has invested $1.9 billion in accounts for low-income public school students, with 3.4 million families eligible. Seed deposits up to $1,500 are provided for children born on or after July 1, 2022.
The executive order directs a statewide effort to expand women's access to capital, financial education, and wealth-building opportunities; strengthen programs like CalKIDS and CalSavers; mobilize investors and business leaders to support women entrepreneurs; and examine existing financial systems to expand access to capital.
