In a world increasingly shaped by economic volatility, equipping young people with strong financial knowledge has become more than just an advantage—it's a necessity. In response to this growing demand, Florida has taken significant legislative and community-driven steps to enhance financial literacy among students. From new high school graduation requirements to innovative partnerships between schools and nonprofit organizations, the state is laying the groundwork for a generation better prepared to manage personal and professional finances. Despite these strides, challenges remain in expanding access and deepening engagement, particularly among underserved communities. The success of programs like JA BizTown demonstrates the power of experiential learning, while also serving as a call to action for broader involvement from educators, business leaders, and policymakers alike.
A Statewide Push for Financial Competency
In the 2023–2024 academic year, Florida high school students began encountering a new graduation requirement: a full course in financial literacy. This mandate, signed into law in 2022 under Senate Bill 1054 by Governor Ron DeSantis, reflects a larger vision to elevate Florida’s standing in workforce education by the end of the decade. Complementing this initiative is the REACH 2.0 Act passed two years earlier, which broadened pre-apprenticeship opportunities and integrated financial awareness into career-focused curricula. These developments highlight a growing recognition that financial fluency must be embedded early in a student's academic journey. Meanwhile, in Broward County, a collaborative model led by Junior Achievement of South Florida has gained traction through immersive programs such as JA Finance Park and JA BizTown—where students engage in real-life financial decision-making. Spearheaded by CEO Laurie Sallarulo, these initiatives offer a blueprint for scalable, interactive financial education across the state.
Building a More Resilient Future Through Collective Action
The push for widespread financial literacy in Florida goes beyond policy; it represents a cultural shift toward empowering individuals with tools for long-term stability. As alarming data shows only a small fraction of teens grasp essential financial concepts, the urgency to scale effective models becomes even clearer. Community engagement plays a pivotal role—whether through mentorship, volunteering, or resource contributions. By strengthening public-private collaborations and encouraging lawmakers to continue investing in youth financial education, Florida can serve as a national model for preparing future generations not just to survive, but to thrive in an unpredictable economy. The time is now for educators, business leaders, and legislators to unite behind this mission and ensure every young person has the opportunity to build a secure financial future.
The state of North Dakota has introduced a new digital platform designed to enhance personal finance understanding among its citizens. Named Smart With My Money, this interactive tool is part of a broader strategy by Governor Doug Burgum to position the state as a national leader in financial literacy within the next few years. The initiative is backed by the Bank of North Dakota and supported through collaboration with multiple regulatory and financial agencies.
At the core of the program is a dynamic user experience that includes personality-based insights into spending behaviors, tailored educational content, and engaging game-like challenges. These features aim to make learning about money management more accessible and interesting for residents of all ages. Participants who complete certain tasks can also enter to win monetary rewards, adding an incentive-driven element to the learning process.
Data from a recent national survey highlights room for improvement in financial confidence among North Dakotans compared to neighboring states. Officials hope the new platform will not only close that gap but also lead to measurable improvements in financial readiness, including greater savings and retirement planning. By 2027, the goal is to see a significant rise in financial knowledge scores and a reduction in financial stress across the state.
When individuals gain better control over their personal finances, they are more likely to contribute positively to their communities and the broader economy. This initiative reflects a forward-thinking approach to public well-being, where empowering citizens with knowledge leads to lasting societal benefits and stronger economic resilience.
The Office of the Comptroller of the Currency (OCC) has called on U.S. financial institutions to take a more active role in improving their customers' financial well-being by offering accessible and high-quality financial education. This call aligns with National Financial Capability Month, yet data reveals that consumers are consistently seeking trustworthy financial advice throughout the year. Younger generations, especially Gen Z and millennials, show a strong preference for informal sources like social media over traditional financial advisors. PYMNTS Intelligence reports highlight this trend across both the U.S. and the U.K., showing that many young people turn to TikTok influencers for budgeting tips and investment guidance. Simultaneously, there is a significant demand for personalized tools and resources related to retirement planning, emergency savings, and debt management. Meeting these needs not only supports financial literacy but also strengthens customer loyalty and attracts new clients looking for expert support.
Rising Reliance on Social Media for Financial Guidance
A growing number of younger consumers are turning to digital platforms, particularly TikTok, for personal finance advice rather than consulting traditional financial professionals. This shift indicates a gap between what financial institutions currently offer and what consumers—especially Gen Z and millennials—are actively seeking. Many young adults admit to lacking basic financial knowledge, such as awareness of their credit scores, and instead rely on influencers who they perceive as relatable and trustworthy. This trend underscores the urgent need for credible, engaging, and easily accessible financial education from established financial service providers.
Across both the United States and the United Kingdom, surveys reveal a consistent pattern: young consumers increasingly depend on social media personalities for budgeting strategies, saving techniques, and even complex financial decisions like investing or choosing a mortgage. In the U.K., nearly 60% of Gen Z users follow "fin-fluencers" on TikTok, and over a quarter believe these influencers provide better advice than certified financial experts. Moreover, nearly half find these figures helpful when making financial decisions, and one-third say they've been inspired to switch banks based on influencer recommendations. These findings suggest that while social media fills an immediate need, it lacks the reliability and depth that professional institutions can provide. As a result, financial institutions have a critical opportunity to step in with accurate, tailored, and authoritative content that competes with the accessibility and appeal of online influencers.
Demand for Personalized Financial Tools and Education
Consumers across all age groups are expressing a clear desire for more personalized financial education and tools that help them manage their money effectively. From building emergency funds to planning for retirement and managing debt, there is a strong appetite for customized solutions that reflect individual financial goals and life stages. Notably, younger generations show the highest interest in receiving expert guidance, particularly regarding 401(k) planning and investment strategies. This presents a prime opportunity for financial institutions to expand their educational offerings and position themselves as trusted partners in their customers’ long-term financial journeys.
Data from PYMNTS Intelligence shows overwhelming interest in tools that support financial growth and stability. A significant majority of Gen Z and millennial respondents expressed a desire for assistance in managing retirement accounts, with over 80% indicating they would welcome expert advice on the subject. Even older demographics, such as Gen X and baby boomers, show considerable interest, reinforcing that the demand for personalized financial education spans generations. Additionally, consumers are seeking tools to build emergency savings, reduce debt, and make informed investment choices. Offering these services not only addresses a real consumer need but also allows financial institutions to strengthen relationships with existing clients and attract younger audiences who may otherwise seek advice from unverified online sources. By stepping up to meet this demand, FIs can fulfill a public service mission while simultaneously enhancing brand loyalty and expanding their customer base.