California Expands Financial Literacy in Schools and Wealth-Building Access for Women

CALIFORNIA — Gov. Gavin Newsom March 18 announced that California is moving forward with a stand-alone, one-semester personal finance course for high school students — a major step toward ensuring every student graduates with the tools to manage money, avoid debt, and build wealth. The State Board of Education adopted a curriculum guide and resources, implementing Assembly Bill 2927 (McCarty), signed by Gov. Newsom in 2024.

Gov. Newsom also issued an executive order March 18 to expand opportunities for women and their families to build wealth and fully participate in California’s world-leading economy. 

California’s new personal finance curriculum

California’s new personal finance curriculum guide ensures students gain practical, real-world financial skills before graduation. The curriculum guide — developed by the Instructional Quality Commission and adopted by the State Board of Education — includes:

Banking, saving, and avoiding unnecessary fees

Budgeting and managing everyday expenses

Credit, debt, and credit scores

Student loans and financing higher education and careers

Investing, retirement savings, and wealth-building tools

Pathways to college, careers, and apprenticeships

Learning about scholarships, merit aid, student loans, and California Kids Investment and Development Savings Program (CalKIDS) — free college and career savings accounts launched by Governor Newsom in 2022. 

The course will be offered beginning in the 2027–28 school year, with completion required for graduation starting with the class of 2030–31.

Closing the gender wealth gap

The executive order Gov. Newsom signed today will:

• Launch a statewide effort to expand women’s access to capital, financial education, and wealth-building opportunities across California.
• Build on programs like CalKIDS and CalSavers to strengthen financial literacy, savings, and long-term financial security for families.
• Mobilize investors, philanthropists, and business leaders to identify practical ways to move more capital to women entrepreneurs and women-led investment funds.
• Direct state leaders to examine how existing financial systems and partnerships can expand access to capital and strengthen pathways to entrepreneurship and investment.
• Explore the feasibility of a California-anchored investment vehicle to attract philanthropic and private capital to support innovation, entrepreneurship, and long-term wealth-building in the state.