New law in Louisiana requires first graders to begin learning all about money management

NEW ORLEANS (WGNO) – School is back in session for many students in Louisiana.

And thanks to a new state law, this year students will be taught financial literacy, learning money management basics like how to set up a savings account, how to balance a checking account, how to be prepared for a mortgage, and how to invest their money.

The courses will start in first grade and go all the way through high school, according to the new statute. Before the new law passed, teaching financial literacy was allowed, but not required.

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