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Money, money, money, MONEY: Oklahoma teens required to take financial literacy courses

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OKLAHOMA  – Courses are changing for some Oklahoma students.

As a result of the Passport to Financial Literacy Act, public high school students in Oklahoma are now required to take personal finance management courses to graduate.

The purpose of personal financial literacy education is to provide students with the basic knowledge and skills needed to effectively manage personal finances.

An understanding of financial management will allow Oklahoma students to make well-informed financial decisions and recognize how these decisions influence their goals and future earnings potential.

Students must exhibit proficient knowledge in 14 areas of testing, which include: earning an income; understanding state and federal taxes; banking and financial services; managing a bank account; savings and investing; planning for retirement; understanding loans and borrowing money; understanding credit card debt and online shopping; fraud and identity theft; rights and responsibilities of renting or buying a home; understanding insurance; understanding the financial impact and consequences of gambling; bankruptcy and charitable giving.