How Financial Literacy Is Changing Students’ Lives

Over the last few years, the number of states adding financial literacy as a graduation requirement has exploded nationwide. In 2018, only a handful of states required students to take a personal finance course. Today, 26 states have implemented financial literacy requirements, and more states are expected to do the same. That surge represents a huge opportunity to teach students how to handle money before they enter the real world.  

Ramsey Education stepped into this marketplace more than 25 years ago, learning and shifting its approach as the marketplace grew. During that time however, Ramsey Education always understood that a good financial literacy curriculum does more than meet educational standards—it shapes behaviors that empower students to make wise financial decisions, avoid debt, and pursue their passion without financial stress.

Ramsey Education exists because of a passionate belief: All students should be free to do what they were created to do. To understand how that principle has influenced the history, impact and future of Ramsey Education, we sat down with Jim King, executive vice president of Ramsey Education, to discuss how the program started, its evolution, and how it’s helping schools equip students for life beyond the classroom.

About Ramsey Solutions and Dave Ramsey

Ramsey Education is a part of Ramsey Solutions, a company founded by Dave Ramsey, one of America’s most trusted voices on personal finance. For over 30 years, Dave Ramsey and his team have helped millions of people take control of their money through courses like Financial Peace University (FPU), podcasts like The Ramsey Show, bestselling books like The Total Money Makeover, and tools like the EveryDollar budgeting app. Ramsey Solutions is dedicated to providing hope through commonsense financial principles, and that mission extends into the classroom through Ramsey Education.

Q&A With Jim King

Q: How did Ramsey Education get started?

Jim King: It really started with feedback from adults who went through Financial Peace University or heard Dave on the show. Dave’s teaching was the first time they ever heard personal finance concepts explained in a way they could understand and apply to their lives. Over and over, they told Dave, “I wish I’d learned this stuff in high school!” That sparked the idea to bring personal finance into the classroom. Our first attempt was simply taking FPU and putting a different cover on it—it wasn’t built for schools and it wasn’t aligned with educational standards. But it planted the seed for what would later become Foundations in Personal Finance.

Q: What were some of the biggest challenges in creating a classroom-ready personal finance curriculum?

Jim King: The first versions were too Ramsey-centric. We focused on teaching the principles we felt mattered most instead of designing the curriculum to meet educational standards or formatting it in a way that worked for teachers. Schools needed a curriculum that met state standards, was easy to implement, and had proven results.

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There was also the challenge of brand recognition. The original name, Financial Peace for the Next Generation built on the brand Dave started with his books Financial Peace and Financial Peace University. But that name didn’t mean anything to most teachers looking for a personal finance curriculum. After a lot of research, discussion and debate, we made the decision to rename the curriculum to Foundations in Personal Finance. That shift helped us gain traction in schools looking for personal finance or financial literacy programs—not just something tied to a specific brand.

Q: How has Ramsey Education evolved to meet the needs of schools and students?

Jim King: Since launching Foundations in Personal Finance in 2008, we’ve made major improvements to make it more accessible and impactful, including:

• Multiple editions: We now have versions for high school, college and homeschool students.
• State-specific versions: To meet state-specific standards, we’ve developed 10 customized editions for states, including Florida and Texas.
• Digital learning: We transitioned from primarily print-based materials to building and launching Ramsey Classroom, our digital platform that makes financial education more interactive.
• Teacher-focused resources: Our curriculum is built with input from educators to make it engaging for all learning levels.

Q: What makes Ramsey Education different from other financial literacy programs?

Jim King: Traditional financial literacy programs focus heavily on concepts—explaining what a budget is, how credit scores work, or defining interest rates. While understanding these terms is important, knowledge alone doesn’t lead to the mindset shift and good money habits we’re aiming for.

The major component that’s missing from those curricula that is core to Foundations in Personal Finance is real-world application.

It’s one thing to learn about budgeting in theory—it’s another to actually create a budget and use it. It’s one thing to understand debt—it’s another to make the decision to avoid it. Our curriculum goes beyond concepts and focuses on behavioral change by:

• Encouraging students to apply financial principles in their daily lives
• Providing hands-on budgeting exercises and real-world money scenarios
• Equipping students to take what they’ve learned and help their families make better financial decisions

We know this approach works because of the stories our students share with us. Every year, we hear from teachers and students about how kids take what they learn in the classroom home to their parents and walk them through the steps to create a family budget or even stop them from going to predatory lenders when money is tight.

We’ve also learned that many of our students keep their textbooks and refer to them later in life when they have a question about money or need help making a financial decision. All of that is powerful evidence of the real-life impact our curriculum has and continues to have on students.

Q: Why does financial literacy education matter now more than ever?

Jim King: The need for financial literacy in schools today is the same need Dave saw 30 years ago with adults. Adults make mistakes with money because no one ever taught them how to manage it. That’s why today 78% of Americans would experience financial difficulty if their paycheck were delayed a week, and research done by Ramsey Solutions shows nearly half have less than $1,000 saved for emergencies.¹

At the same time, there’s a debt crisis in America. Student loan debt is skyrocketing. People are relying on their credit cards to make ends meet. We want to change the mindset that debt is a necessary way of life. Nearly all the personal finance programs available today teach students how to manage debt. We teach students how to manage money. We’re equipping them with the tools to navigate financial decisions wisely, so they don’t start their adult lives trapped in debt. When students understand money, they gain mobility, independence and the ability to pursue their dreams.

Q: How does Ramsey Education support teachers in bringing financial literacy to life in the classroom?

Jim King: We know that teachers are on the front lines of change. We have several former educators on our team who constantly advocate for the teacher in the classroom. They focus on making our curriculum:

• Easy to implement with turnkey lessons
• Engaging through videos, real-world scenarios, and interactive activities
• Accessible with Spanish-language options and differentiated learning tools

It’s also important that we hear from the teachers who are using our materials in the classroom. We have an ongoing, open feedback loop with our teachers so they can help us improve our curriculum and the Ramsey Classroom platform. They’re helping us set them and their students up for success in class and in life.

Q: What’s next for Ramsey Education?

Jim King: We’re launching an economics course, Foundations in Economics, to align with state standards and help more schools meet the financial education requirements for their students. We’re also continuing to work with the growing number of states requiring financial literacy for graduation.

At the core, though, our mission remains the same: Create hope, break generational poverty, and equip students with financial habits that lead to freedom.

Ramsey Education isn’t just about teaching students how to budget—it’s about helping them build a future of financial confidence and opportunity. By shifting mindsets, forming positive habits, and providing the right resources, we’re making sure students leave school prepared to take on the real world with confidence.

To learn more about the Foundations in Personal Finance curriculum for high schools and homeschool, visit Ramsey Education online.