51284.5.
Notwithstanding Section 51284, when the history-social science curriculum framework is revised after January 1, 2017, 2024, the Instructional Quality Commission shall consider including include both of the following:(a) Age-appropriate information for grade spans, as listed in paragraphs (1) to (3), inclusive, of subdivision (b), on financial literacy that includes, but is not limited to, all of the following:
(1) Fundamentals of banking for personal use, including, but not limited to, savings and checking and managing to minimize fees. checking.
(2) Principles of budgeting for independent living. and personal finance.
(3) Employment and understanding factors that affect net income, including the topics described in subdivision (a) of Section 49110.5. income.
(4) Uses and effects of credit, including managing credit scores and the relation of debt and interest to credit.
(5) Uses and costs of loans, including student loans, as well as policies that provide student loan forgiveness. loans.
(6) Types and costs of insurance, including home, auto, health, and life insurance.
(7) Impacts of the tax system, including its impact on personal income, the process to file taxes, and how to read tax forms and pay stubs. Forms of governmental taxation.
(8) Principles of investing and building wealth, including investment alternatives to build financial security, including tax-advantaged investments such as pensions and 401(k) plans, individual retirement accounts (IRAs), and stocks, bonds, mutual funds, and index funds. wealth.
(9) Enhancing consumer protection skills by raising awareness of common scams and frauds and preventing identity theft. Identity theft and security.
(10) Identifying means to finance college, workforce education, low-cost community college options, and other career technical educational pathways or apprenticeships. Financing options covered may include scholarships, merit aid, and student loans. Planning and paying for postsecondary education.
(11) Understanding how psychology can impact one’s financial well-being.
(12) (11) Charitable giving.
(13) Other topics that are directly and specifically relevant to personal finance.
(b) Age-appropriate content related to the topics listed in paragraphs (1) to (13), (11), inclusive, of subdivision (a), at least twice in each of the following grade spans:
(1) Kindergarten and grades 1 to 5, inclusive.
(2) Grades 6 to 8, inclusive.
(3) Grades 9 to 12, inclusive.