Wages. Insurance premiums. Roth IRAs.
Financial education hasn’t always been a priority in Washington schools. But under new standards adopted this year, students will learn about financial subjects like spending and saving — and why they’ll need to know about wages, insurance premiums and Roth IRAs when they’re adults.
The standards are the first of their kind in Washington, according to the state superintendent’s office. Superintendent Randy Dorn presided over a ceremonial adoption last week.
Dorn noted that if more people understood what banks were doing with home loans, the financial crisis may not have hit the country as hard as it did in 2008 and 2009.
“Students need to understand financial terms,” he said. “They need to know what interest is, how to calculate taxes, when to begin investing. Giving them those tools may help us avert the next financial crisis.”