Financial literacy education works!

According to a recent article in the Washington Post, studies show that high school graduates in states mandating personal finance education are more likely to do a better job managing their money, earning higher credit scores and defaulting less often on their credit cards.

A 2014 Federal Reserve report compared the average credit scores of young people in states that require personal finance education and those that do not. It found that young people who graduated from high schools that require such education had higher average credit scores by age 22 than those who graduated from states that did not. Georgia, for example, saw average credit scores increase by 29 points after the state mandated personal finance education.