The BLS Executive Council established the Financial Literacy Task Force to develop a strategy to
make financial literacy and education a high school requirement in Florida.
VISION AND MISSION
The Task Force’s vision is to ensure the financial well-being for all individuals and families in
Florida through financial education in high school and college. In furtherance of this vision, the
Task Force develops strategic direction for policymaking, legislation, awareness, and
coordination with stakeholders to ensure that all young individuals have the financial literacy to
make informed financial decisions during their adult lives through early financial education.
Defining Financial Literacy and Education
Financial literacy describes the skills, knowledge and tools that equip people to make individual
financial decisions and actions to attain their goals; this may also be known as financial
capability, especially when paired with access to financial products and services.
Financial education is the process by which people gain information, skills, confidence and
motivation to act, through various means, including classroom education, one-on-one
counseling and coaching, technology-based interventions, and self–study. 1
A key desired outcome for financial education is sustained financial well-being, in which people
can fully meet current and ongoing financial obligations, can feel secure in their financial future,
and are able to make choices that allow enjoyment of life. 2
Financial education is key to unlocking the foundations of economic opportunity and powering
a strong and resilient economy. Americans must acquire financial skills and knowledge to fully
participate in our dynamic economy.
In a 2018 study, only one-third of adults could answer at least four of five financial literacy
questions on fundamental concepts such as mortgages, interest rates, inflation, and risk. 3
Similarly, a 2018 assessment of 15-year-old students found that 16 percent were below a
proficient level of financial literacy, 22 percent demonstrated a basic level of financial literacy,
while 12 percent successfully demonstrated the highest level of financial skills assessed. 4
To close the gap, the Task Force strives to instill knowledge, skills, and confidence through
making financial literacy an educational requirement in Florida for young individuals, so that
they can make more informed financial decisions during their lifetime.
RESOURCES FOR TEACHERS
RESOURCES FOR KIDS, YOUTH, AND PARENTS
PARENTS AND KIDS
HIGH SCHOOL YOUTH
1 U.S. Department of the Treasury, Federal Financial Literacy Reform: Coordinating and Improving Financial Literacy Efforts, July 2019, available at:
2 Consumer Financial Protection Bureau, Financial well-being: The goal of financial education, January 2015, available at: https://files. consumerfinance.gov/f/201501_cfpb_report_financial-well-being.pdf.
3 Lin, Judy T, Christopher Bumcrot, Tippy Ulicny, et al., The State of U.S. Financial Capability: The 2018 National Financial Capability Study, FINRA Investor Education Foundation, June 2019, available at:
4 Organisation for Economic Co-operation and Development (OECD), PISA 2018 Results (Volume IV): Are Students Smart about Money? Programme for International Student Assessment, OECD Publishing, 2020, available at: http://www.oecd.org/pisa/publications/pisa-2018- results-volume-iv-48ebd1ba-en.htm.