On May 23rd, Colorado Governor Jared Polis signed HB 1192, a bill that requires high school students to complete a course that incorporates all of the Colorado academic standards for financial literacy. Representative Anthony Hartsook (R) and Representative Jennifer Bacon (D) co-sponsored the bill along with Senator Jeff Bridges (D) and Senator Lisa Frizell (R). 

Colorado is the 28th state to require a course dedicated to personal financial literacy for high school students. When implemented fully, 66% of U.S. high school students will be guaranteed to take a Personal Finance course by 2030.

The bill includes funding for implementation. It appropriates money from the 2025-26 fiscal year to the Colorado Department of Education, which may be used to compensate teachers for completing professional development workshops.

Representative Bacon, who once worked as a math teacher, emphasized the importance of this effort. “Financial literacy is of the utmost importance for students and children. All Colorado students deserve to build their literacy in systems that determine so much of our lives,” she stated. 

Representative Hartsook agreed that financial literacy instruction is critical, drawing on his experience as a U.S. Army commander when he “often saw soldiers struggle with basic money management and recommended they attend financial literacy workshops.” 

A coalition of educators, students, parents, and advocacy groups, including the NGPF Mission 2030 Fund, an affiliate of Next Gen Personal Finance,  championed the bill and testified in support of it. 

“This is a huge win for Colorado students and families,” said Yanely Espinal, the Director of Educational Outreach at Next Gen Personal Finance ( NGPF). “Guaranteeing all students a class about budgeting, saving, responsible borrowing, and diversified investment options is a key step toward helping young people avoid common pitfalls and achieve financial dignity.”

Other supporters of the bill included the Colorado Bankers Association, Stand for Children, the National Association of Insurance & Financial Advisors - Colorado, and Ednium: The Alumni Collective. 

Richard Maez, the Executive Director at Ednium, shared “We’ve heard from alumni across Colorado that the number one piece missing from their education was a course on Personal Finance. Because of this coalition of support, we are ensuring all Colorado graduates will have the knowledge and skills to make more informed decisions regarding their financial future.”

Matthew Layden, a current high school senior and leader at Financial Kids Colorado, highlighted that this bill ensures all students graduate with essential financial literacy skills for the 21st century. 

He said understanding budgeting, investing, and entrepreneurship opens doors to diverse career opportunities and promotes economic equity. “Everyone deserves the chance to live their American dream,” Layden said, “and financial education is the key to unlocking that opportunity for all students.”

Jill Wilson, a teacher at Glenwood Springs High School for over 20 years, said, “By guaranteeing students a financial education course in high school, we’re ensuring they won’t have to learn how money works through the ‘school of hard knocks’ or costly mistakes.” 

Research shows that students who take a personal finance course make better long-term financial decisions and see improvements in credit scores and debt management. 

A recent report estimates that a one-semester personal finance course can provide a lifetime benefit of about $116,000 per high school graduate in Colorado.

NGPF supports more than 120,000 educators nationwide, including over 2,000 teachers in the state of Colorado, by providing free curriculum and teacher professional development both in Colorado and nationwide. 

The NGPF Mission 2030 Fund, a nonprofit that advocates for this policy in all states, was a supporter of the bill.

About the Author

Yanely Espinal

Born and raised by Dominican, immigrant parents in Brooklyn, Yanely is a proud product of NYC public schools. She graduated from Fiorello H. LaGuardia High School in 2007 before going on to receive her bachelor's degree at Brown University in 2011. As a Teach For America corps member, Yanely taught third and fourth grade in Canarsie, Brooklyn. She received her master's degree from Relay Graduate School of Education in 2013. She spends her spare time making YouTube videos about personal finance on her channel, MissBeHelpful. Yanely also loves to dance, sew, paint, listen to podcasts, and babysit her 10 nieces and nephews!