First, save a $500 emergency fund. Second, get out and stay out of debt. Third, pay cash for your car. Fourth, pay cash for college. Fifth and finally, build wealth and give.
These are the five foundations of personal finance in “Foundations in Personal Finance,” presented by Dave Ramsey. GlenOak High School has recently switched financial literacy curricula to use Ramsey’s course from Junior Achievement’s Financial Literacy.
According to the World Economic Forum, only 48% of American adults are financially literate. This is why, in 2019, Ohio has created a new high school graduation standard that requires all students graduating in 2026 and later to take at least one-half credit of financial literacy while in high school.
