While U.S. voters are divided on many issues today, there are at least two where they can agree: They want a stronger economy and better education. The good news for policymakers is that there is a simple way to make voters happier on both fronts: They can increase the number of states requiring K-12 financial education. Currently, only half of the states in the U.S. require at least one course in either economics or personal finance for high-school graduation, according to data from the Council for Economic Education. Given that consumption represents some two-thirds of the overall U.S. economy, this frequent absence of financial capability can have significant consequences. Consider a few examples:Research published in the October 2020 Economics of Education Review concluded that "financial education requirements are associated with fewer defaults and higher credit scores among young adults."

---