After a financial literacy seminar at San Gabriel High School, California education officials posed for a group photo alongside student representatives. This gathering came on the heels of a newly passed state law mandating that all high school graduates complete a semester-long personal finance course starting in 2026. Among the notable figures in attendance were California’s Superintendent of Public Instruction, Tony Thurmond, State Senator Anthony Portantino, and financial education expert Yanely Espinal.
In an interview, Thurmond expressed his concern over the widespread lack of financial knowledge among young people, particularly high school students. He pointed out that this gap can lead to significant adult challenges, including student loans and credit card debt. “The new law is aimed at providing students with the essential skills they need to navigate financial hurdles after graduation,” Thurmond said. He explained that this legislation will integrate financial management into the core curriculum, ensuring that students acquire practical skills such as budgeting, saving, debt management, and investing, as well as understanding issues related to identity theft and financial fraud. He also highlighted that nearly 240,000 homeless students in California particularly need these skills to manage housing and budgets effectively.
“Financial education isn’t just academic; it’s critical for students facing real-life challenges,” Thurmond added. The curriculum will be developed in collaboration with experts and teachers to guarantee high-quality financial education across the state.
Portantino echoed these sentiments, reflecting on the positive outcomes of a previous initiative that rescheduled high school start times to 8:30 AM, which led to better sleep and improved academic performance for students. He reinforced the significance of financial literacy for students’ capabilities in managing their future finances and acknowledged the hard work of local educators and school leaders in promoting financial education. He also praised the student committee for giving young people a voice in decision-making processes.
To inspire the students, Espinal shared her own remarkable journey. As the author of “Mind Your Money” and a financial education influencer, she recounted how she moved from being $20,000 in debt to achieving financial independence. Reflecting on her college years, she talked about her struggles with credit cards and the significant debt it led to. Her turning point came when she read Suze Orman’s “Women and Money,” which taught her budgeting and a debt repayment plan, allowing her to pay off her debt in just 18 months. This transformation ignited her passion for helping others improve their financial literacy.
Espinal stressed that wealth should be defined by net worth rather than superficial possessions, urging students to distinguish between true wealth and social standing. Through an interactive game, she illustrated how emotions can influence financial decisions, highlighting the importance of emotional control in spending wisely. To offer investment guidance, she recommended that beginners look into low-cost index funds and ETFs, emphasizing diversification’s crucial role. She also took time to clarify the differences between credit and debit cards, advising her audience to use credit wisely and advocate for balanced discretionary spending each semester.
The event also saw support from Dr. Denise R. Jaramillo, Superintendent of the Alhambra Unified School District, along with Board Chair Jennifer Shin and student representative Keiko Rakin.
As the event concluded, Espinal’s book signing attracted many eager students seeking autographs and photos. She patiently answered questions about investing, taxes, and managing college finances while encouraging students to network with professionals on LinkedIn to help shape their future careers. Thurmond wrapped up the event by urging parents and the community to rally behind this new policy, asserting that financial education will have a lasting positive impact on both students and their families, ultimately helping California youth build a solid financial foundation for future challenges.
