THE FINANCIAL COMMUTE

What the Next Generation Should Know About Financial Literacy

Chris Galeski Season 1 Episode 104

On this week’s episode of THE FINANCIAL COMMUTE, host Chris Galeski welcomes Client Coordinator Morgan Jul to discuss financial literacy and a new California bill requiring high school students to take a financial literacy course starting in 2031. 

Here are some key takeaways from their conversation:

- The bill requires financial literacy courses to be offered to all California high school students by the 2027-28 school year and be part of the graduation requirements for the class of 2031.

- Research shows financial habits are often formed by the age of seven, making early education critical.

- Studies suggest proper financial literacy can add around $127,000 in value through better habits and knowledge around investing and saving. 

- Morgan shares her story of transitioning from a career in entertainment to finance after taking a financial literacy course. She says the course changed her perspective on money management and equipped her with more confidence and financial stability, ultimately inspiring her to want to help others in the same way. 

- Morgan and Chris encourage listeners to check out financial resources like THE FINANCIAL COMMUTE, other video series, Couchside Conversations, as well as websites like NerdWallet, Investopedia, and The Points Guy. 

- Chris also suggests younger, high-earning professionals to learn more about our Modearn offering, which provides tailored financial advice to the next generation who may not meet the typical wealth thresholds of other advisory firms.