Our children spend much of their early years learning subjects like science, math, and history, but one crucial skill has often been overlooked—financial literacy. As standardized tests become the measure of success, practical life skills like budgeting and managing money have fallen to the wayside.
This oversight has led to generations of young adults who enter the workforce or higher education with little understanding of how to manage their finances. When they are suddenly responsible for rent, groceries, tuition, and other expenses, many struggle to adapt.
That’s why, as your State Treasurer, I believe it’s vital to start teaching students about financial responsibility early.
As someone who has served as your State Treasurer, the former State Revenue Secretary under Gov. Jim Justice, and a CPA, I know firsthand how essential financial planning is.
My wife, Lisa, and I have seen how thoughtful financial management can reduce stress and help build a secure future. The sooner we teach students these skills, the more likely they are to remain financially secure throughout their lives.
That’s why my office has expanded the “Get a Life” program—an interactive budgeting simulation designed for middle school students. This program helps students understand the difference between needs and wants and how to manage their finances.
It challenges them to come up with practical solutions to real-world financial scenarios, such as managing a budget and understanding how their choices affect their financial futures.
By engaging local business leaders in the program, we provide students with real-world insights, while fostering community involvement. This year, we expect the “Get a Life” program to reach over 15,000 students.
There’s even more good news. In 2023, the West Virginia legislature passed a law requiring high school students to take a personal finance course before graduation. As a result, West Virginia will soon join the ranks of states that prioritize financial education.
According to the latest national report on financial education in high schools, published by Champlain College’s Center for Financial Literacy, West Virginia is on track to earn an “A” grade by 2028, when the new requirement is fully implemented. We must continue to build on this momentum and provide educators and students with the resources they need.
As we celebrate Financial Literacy Month, I urge everyone to recognize the importance of these efforts. Financial education benefits not just individuals, but entire communities. It can break the cycle of generational poverty and lead to a more prosperous future for all.
Good budgeting is the foundation of a good life, and when our youth understand this, they become more resilient and prepared for the challenges ahead. The time to prioritize financial literacy in West Virginia is now. I hope you will join me in supporting these vital efforts.
