Teaching Kids to Save

A proposed bill in Florida seeks to make kids learn how to manage their money before they're allowed to graduate from high school.

The Dorothy L. Hukill Financial Literacy Act reads, "In light of economic challenges nationwide, sound financial management skills are vitally important to all Floridians, particularly high school students." It goes on to say many Florida residents "graduate from high school without having any basic financial literacy or money management skills."

If it's approved, the bill will go into effect in January 2019.

Houston Certified Financial Planner, Troy Sharpe said, "This is great news, because the earlier you start learning to save the better off you will be in the future." Sharpe said he would also teach kids about the importance of compound interest. "It can be your best friend as well as your worst enemy."

For more on the bill: 

https://www.news4jax.com/news/florida/new-bill-would-require-florida-high-school-students-to-take-financial-literacy-class

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