Missouri Financial Literacy Standards & Mandates

Missouri requires students to complete a 1-semester course on personal finance to graduate. While this mandate represents a positive step toward ensuring students acquire essential financial knowledge, it falls short of meeting the minimum educational standards established for other core high school subjects. As a result, students who complete the proposed coursework may not be adequately prepared to face near-term financial challenges.

While our review is critical, we want to express our gratitude to everyone dedicated to advancing legislation aimed at teaching financial literacy. Thank you for your time and effort in developing this bill to its current stage. Our critique stems from a place of constructive feedback to improve existing mandates and enhance bills to ensure they make a significant and lasting impact on our youth. We are committed to fostering a future where financial literacy is not just taught but is impactful and meaningful for the generations to come.

Missouri Financial Education Mandates Ranking

Unfortunately, Iowa’s financial literacy mandate falls significantly short, failing to meet 9 out of 12 key measures and only conditionally addressing three areas. While the mandate is well-intentioned, it raises serious concerns due to the absence of many crucial elements necessary for ensuring positive outcomes for students.

Missouri’s Financial Literacy Mandates

Recommended Policy for MO Financial Literacy Programs

To address the gap in standards for personal finance education, the National Financial Educators Council has developed a set of benchmarks for all grade levels, K-12. This policy guide offers legislatures a framework that standardizes educational quality and learner outcomes to provide the best possible financial education for American youth.

The Standards Guide is based on the notion that financial education should be treated the same as any other topic taught in schools and that all students should at minimum be capable of making near-term financial decisions.

National Standards for Financial Education

Financial Literacy Standards for Older Youth & Adults (High School through Adults)

Although there is no direct mandate by the California State Board of Education, it is recommended that national standards be implemented. Financial education is a unique subject; all participants have developed financial habits and relationships with money before instruction begins.
National standards are those that have been proven in empirical and theoretical research to produce the highest improvements in participant test scores.

Financial Literacy Standards for Kids (Kids PK through 8th Grade)

In collaboration with education leader Heidi Jacobs, the NFEC created these financial literacy standards to define learning goals and educational targets for optimal child financial education. Guided by strong pedagogical theory, the standards ensure that instructional targets are age- and developmentally-appropriate and that lessons can be effectively scaffolded. Standards represent five sections based on topic areas in the NFEC curriculum.

Standards for Financial Education Instructors

The NFEC teamed with the well-known Danielson Group to develop the first and only national standards for financial educators – The Framework for Teaching Personal Finance – to define optimal educator skill sets and performance levels. The framework also identifies the financial educator responsibilities empirically proven to produce highest gains in participant test scores. This framework is used in all 50 states, including California.

National Financial Educators Council, State Financial Literacy Standards
National Financial Educators Council, State Chapters

Missouri Financial Literacy Standards

Missouri is one of only five states to be awarded an “A” grade in financial education standards for its public school students, says the Champlain College Center for Financial Literacy. The Show Me State mandates that high school students must take either a half-year course in personal finance specifically, or a half-year of personal finance instruction embedded in a social studies or practical arts course, prior to matriculating.

The benchmarks for personal finance instruction in Missouri are quite robust, and the state also has created a standardized test for assessing financial literacy at no cost to school districts. Champlain also gives Missouri extra credit for having the personal finance assessment requirements and financial literacy teaching resources available on a website.

The State of Missouri educational standards (as summarized by the Council for Economic Education) include personal finance instruction for K-12, require districts to implement the standards, require a high school course to be offered and taken, and have standardized testing in place.