Utah is one of the states which has had a steady position when it comes to the financial literacy rate. Many trade stocks online or binary options with Quantum Code. Champlain College is one of the most renowned institutions offering top-notch higher education courses in various regions with their career-oriented programs. It has also been rated as the “Most Innovative School” in the northern US. The Champlain College releases a list of the ratings of the various American states in terms of their financial literacy. “The National Report Card on Adult Financial Literacy”, 2016 gave Utah state an A- grade. There are only 3 other states which received this grade in that year.
Rating the adult financial literacy:
The problem with most American states is that though the graduation rates have been found to be high, the financial literacy rates of the average adults are not very impressive. Even with a good income and a decent gross domestic income in each household, the financial growth is not the best yet. This is because of a lot of factors including the fact that the financial literacy of the graduate employed individuals is not that great. Their financial knowledge, credit and debit, savings and expense management has to improve a lot. But with Utah, the case is different. The financial literacy scenario is altogether different in Utah. There are no states that received an A+ grade or even an A.
Utah, in the report, was named the best state in terms of the adult who received financial education. It was also the best state in terms of the quality of the literacy education offered in high school. The report takes into account several other financial factors like financial knowledge, credit scores, expenses and savings, investments and retirement plans and insurances opted for by the state residents.
Graduation system in Utah:
In 2003, the Utah state passed the Senate Bill 154, according to which for graduation, a mandatory financial literacy through a finance course in the curriculum was implemented. For the graduates from the batch of 2008, General Financial Literacy class was made a part of one of the semesters. This course collectively covers planning of finances, career and income plans, money management, investments, savings and retirement plans. Utah has been a pioneer in the introduction of such a financial course as a crucial and compulsory segment of the formal graduation.
The General Finance Literary course has been designed for the students of Utah. This helps students graduate with a good knowledge in managing their personal finances efficiently. Students who complete the GFL course would be competent in financial management and in attaining financial security. This would also help hone their overall money management skills. They would be better investors. Every personal financial decision would directly or indirectly affect the state’s financial condition in the long run. The GFL course would make the graduates take right financial decisions and thus help improve the economic condition of the state as well. This course would include credit and spending, money management, investment and savings, risk management and many other aspects of financial literacy. This is a mandatory course offered for the students of Utah.