Graduating Life Ready

Far too many students leave high school unprepared to navigate one of life’s most critical challenges: managing finances. I firmly believe that preparing students for life is a fundamental aspect of education. This is not a novel concept. Schools nationwide have rushed to prepare our students for the complexities of the modern world. Collaboration, critical thinking, and problem-solving, among other skills, have been well noted and discussed as vital skills students must possess for their future success. School leaders have long infused the teaching of these skills into lessons, curricula, and coursework.

If preparing students for their future is our primary goal, financial literacy should not be overlooked. As principal of Diman Regional Vocational Technical High School in Fall River, MA, graduating financially literate and empowered students was a core component of our mission.

Why Financial Literacy Matters

The importance of financial literacy for success in adulthood cannot be overstated. Annamaria Lusardi, senior fellow at the Stanford Institute for Economic Policy Research and the director of the Initiative for Financial Decision-Making, has long studied this issue. In her article, “The Importance of Financial Literacy: Opening A New Field,” Lusardi concludes that financial illiteracy exacerbates economic inequalities, limiting wealth accumulation, savings, and prudent investment decisions. Adults with lower financial knowledge are more vulnerable to poor financial outcomes, including higher debt levels and limited retirement savings. Conversely, those who received financial literacy education show strength in several areas in adulthood:

• Better Financial Decisions: Financial literacy programs empower students and give them the knowledge to make smarter financial choices. According to the FINRA Foundation (Financial Industry Regulatory Authority), students with financial education have better financial outcomes, save more money, and are less likely to accumulate debt and late fees.
• Understanding Loans: With loan interest rates rising, financial literacy classes equip students to navigate loans, including student loans, more effectively. This is key because students don’t fully grasp the implications of borrowing, often taking on significant debt without understanding repayment terms or interest rates.
• Knowing the Importance of Saving: Financial literacy classes also stress the value of saving. While needing money for emergencies is inevitable, setting long-term goals is prudent. Early education on saving and compound interest can foster healthier saving habits, encouraging students to start small and prioritize long-term financial stability.
• Financial Literacy’s Ripple Effect: Financially literate individuals experience lower stress levels, allowing them to better manage life’s challenges and improve their overall well-being. By reducing financial strain, students are better equipped to lead healthier, more balanced lives.

One of the most impactful changes I made as principal was ensuring every senior took a full-year financial literacy course before graduating.

At Diman Regional Vocational Technical High School, we recognized that financial literacy is much more than understanding how to balance a checkbook or create a budget—it’s about empowering students with the skills to make informed decisions that will affect their futures. As part of our life-ready mission, we sought to transform how students approach their financial lives by making financial literacy a core component of our course catalog and school culture.

Mandating Financial Literacy

When I became principal of Diman, I made it clear that I wanted all students to graduate life ready. Being life ready means every student who walks across that graduation stage is prepared not just academically or vocationally but holistically for the challenges and opportunities that await them in the real world and adulthood.

Financial literacy is at the heart of this mission and plays a significant role in a student being life ready upon graduation. One of the most impactful changes I made as principal was ensuring every senior took a full-year financial literacy course before graduating. In doing so, we laid the foundation for a generation of students who will enter adulthood equipped to make sound financial decisions.

I urge all school leaders to review their course catalog and graduation requirements. Mandating a financial literacy course is one way your school can ensure students are prepared for life after graduation.

Revamping the Financial Literacy Curriculum

Ensuring students completed a financial literacy course was just the beginning. We knew that a typical, surface-level course on basic finance wouldn’t have the impact we were searching for. To truly prepare students for the complexities of the modern financial world, we needed to revamp our entire financial literacy curriculum.

We identified two teachers who were interested in teaching the course. We paid our financial literacy teachers to revamp our curriculum, aligning it with the latest state frameworks and real-world scenarios our students will likely face. The course covered everything from budgeting and saving to understanding credit scores and navigating student loans. The course aimed to empower our students to make informed decisions that would shape their financial futures.

Partnering With Local Banks

One of the cornerstones of our financial literacy program was our partnership with a local bank to hold an annual credit for life event. This event gave students a hands-on opportunity to simulate real-world financial decision-making. Students were assigned a career, income, and family scenario and then tasked with budgeting for housing, transportation, insurance, groceries, and other expenses while balancing their credit scores and managing debt. We infused life-ready components into the scenario, with stations focused on everything from how to tie a tie to job interviewing.

This event was transformative for our students. It brought the financial concepts they learned to life in a tangible way. Students quickly realized how easy it is to fall into financial traps and the importance of making informed decisions about debt, credit, and spending. Our local bank provided invaluable support, sending representatives to engage with students and offer expert advice on money management, loans, and credit.

Our collaboration with community partners helped bridge the gap between education and real-world application, showing students how the lessons they learned in the classroom could be applied in their future lives.

A Call to Action

In an era where everything seems to cost more, financial decisions can have lasting consequences. I believe schools have an obligation to equip students with the knowledge and skills they need to navigate life and adulthood. At Diman, we believed that financial literacy was a foundational principle of life-readiness. Our students were better prepared for life after graduation because we prioritized financial literacy.

But this work is far from over. Roughly 30% of children enrolled in public schools have access to financial literacy classes. As of 2024, 26 states require high school students to complete a financial literacy course to graduate. This number has grown in recent years, reflecting a rising recognition of the importance of financial education. However, mandates vary widely, with some states requiring a standalone personal finance course while others integrate financial literacy into broader courses like economics.

I encourage schools across the country to prioritize financial literacy, collaborate with community partners, and invest in robust, relevant curricula that will give students the financial foundation they need to succeed. The future of our students—and our communities—depends on it.

References

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Andrew Rebello is assistant superintendent of Bristol Plymouth Technical High School in Taunton, MA, and the former principal of Diman Regional Vocational Technical High School in Fall River, MA. He is a 2025 National Principal of the Year finalist.