Legislation co-sponsored by Assemblywoman Eliana Pintor Marin requiring school districts in New Jersey to teach financial literacy to elementary and middle school students was signed into law by Acting Governor Sheila Oliver on Thursday.
The new law (A-1414) would direct the State Board of Education to require school districts to incorporate financial literacy instruction into the curriculum for students enrolled in kindergarten through eighth grade.
"The earlier we instill this message in our children, the better financial decisions they will make as adults," said Pintor Marin (D-Essex). "It is not uncommon for students to have their first job in high school, and by teaching financial lessons in grades kindergarten through eight, they will be ready for the responsibility of earning their own income as that time comes."
Under the new law, the instruction must include content on budgeting, savings, credit, debt, insurance, investment, and other issues associated with personal financial responsibility as determined by the state board.
The state board must provide curriculum and sample instructional materials that may be used by school districts to support the implementation of the financial literacy instruction requirement.
The legislation was also sponsored by Assembly Democrats Angela McKnight, Nicholas Chiaravalloti, Jamel Holley, Benjie Wimberly and Annette Quijano.