The New Mexico Public Education Department is updating its K-12 Social Studies standards, which detail the concepts that students will learn in classes like history and economics. This gives us an important opportunity to make sure that every New Mexico student has the opportunity to learn essential personal finance skills before they graduate from high school.
New Mexico is one of only five states that fails to include personal finance in its education standards. Personal finance standards teach students essential life skills like budgeting, checking and savings accounts, credit, interest, investment in stocks and bonds, and the costs of borrowing. The research shows that students who receive this education are more likely to save money, budget their spending, invest, and obtain more financial aid for college.
The department’s draft revision didn’t add any personal finance benchmarks, so Think New Mexico wrote our own based on the national best practices and the standards in place in other states like Colorado. (You can review our proposal here: Think New Mexico’s proposed additions are highlighted throughout the draft rule.)
We hope you’ll join us in urging the Public Education Department to adopt strong personal finance standards for New Mexico’s students! Please note that comments must be submitted by 5:00 p.m. on November 12.