More students will be learning about financial literacy now that Gov. Brown has signed AB 2546 (Calderon),  which  incorporates age-appropriate financial literacy instruction in history-social science curricula when it’s revised after Jan. 1 for grades K-12.

AB 2546 provides California with an opportunity to develop an educational plan to teach financial literacy consistently throughout a child’s education. Studies have proven that students who are introduced to financial education courses early and more often have higher rates of savings and are less likely to rely on high-cost methods of borrowing.

At CPA Day in January, more than 200 CalCPA members met with legislators from all over California to discuss topics important to the CPA profession and the California taxpayers. One of the topics discussed was how important financial literacy is to the success of Californians, and the financial literacy workshops CalCPA provides as a resource to legislators to utilize in their districts.

CalCPA has been a strong proponent of financial literacy education because having the tools necessary to understand the complexities of today’s financial decisions is imperative for California residents to lead financially healthy and secure lives. CalCPA members at CPA Day explained that through CalCPA’s community outreach and financial literacy programs, CalCPA provides trained CPAs to help constituents of every demographic better understand what they need to know to effectively manage their financial well-being.

The legislators reacted positively to the financial literacy discussions, and not only did dozens of legislators reach out to plan financial literacy workshops with CalCPA, but multiple bills evolved out of the financial literacy conversations, including AB 2546.

CalCPA proudly supports AB 2546, and believes it will further efforts to develop California students’ financial literacy skills at a young age, and help protect them from the negative consequences of risky financial decisions later in life. CalCPA thanks its members who were involved in the grassroots process and CPA Day for their hard work and dedication to the profession through their proactive advocacy efforts.