South Carolina students will learn a new subject — keeping a personal budget

In schools of South Carolina are going to introduce a new subject — keeping a personal budget.

The Horry County Senator Luke Rankin presented the next bill, according to which secondary state schools the children will be taught to properly spend, invest and save money. The course will talk about budgeting, insurance, taxes, retirement planning, banking and most importantly about how not to get bogged down in deep loans. The teacher will decide how much time to devote to a new subject: make it a separate curriculum, to devote the whole semester or to read a short course.

According to Rankin, a question of personal Finance is very important for students. This is a large component of adult life, and this course will help children cope with financial difficulties and to protect themselves from debt or even bankruptcy.

If the state government approves the law, the course will become mandatory, and students must pass a test on it at the end of the school year. Teaching a new subject will start in the 2020-2021 year.