NC Treasurer Briner creating high school financial literacy clubs to help teens
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- Briner announced plans to start financial literacy clubs in North Carolina high schools.
- Briner is creating an internship at the Treasurer’s Office that awards a $500 scholarship.
- North Carolina law requires high school students to complete a personal finance course,
State Treasurer Brad Briner has a mission to improve the financial literacy skills of North Carolina’s high school students.
Briner, a Republican, recently announced a plan to start financial literacy clubs this fall in high schools across the state. Briner said having financial knowledge when they’re young will help teenagers “live their best life.”
“When you have people who are prepared to deal with the big challenges of finance and life — which underpin so many other challenges in life — then you’ve got people who are better capable of living the life they want to live, who are better citizens, who are more informed citizens,” Briner said in an interview with The News & Observer.
Briner also announced he’s creating a high school internship program at the Officer of the State Treasurer.
Learning financial literacy before senior year
In 2019, state lawmakers passed a law requiring high school students to complete a financial literacy course before they graduate. The legislation had been promoted by then Republican Lt. Gov. Dan Forest.
Now students are required to take a course covering topics such as paying for college, home mortgages, credit scores, car loans, managing credit cards and “the true cost of credit.” The course is typically taken by students in their senior year.
Briner said the personal finance graduation requirement was a good start for the state. But Briner, who is a member of the State Board of Education, said senior year is probably too late for teenagers to take the course.
“A lot of people have made financial decisions already, have already had their first job, have already begun down a path and form habits that you probably want to help them with before senior year,” Briner said.
Finance Friday newsletter
The new clubs would use material adapted from Office of the State Treasurer’s monthly newsletter: “Finance Fridays With the Treasurer.” The newsletter has covered topics such as what are taxes and the difference between investing and gambling.
In March, North Carolinians bet $726 million on sporting events, according to a state report.
“We have gamified so much of life at this point,” Briner said. “We’ve made it a contest in ways that are not necessarily helpful. Whether it’s the advent of fantasy sports or sports gaming in general., we’re confusing people about the role of finance and the role of entertainment, and I see that particularly among young people.”
Sohum Kunde, 15, a sophomore at Green Level High School in Cary, has been helping pave the way for the new financial literacy clubs by converting newsletter items into slides that teachers can use. Kunde said he sees firsthand how many of his peers lack basic financial literacy skills.
“By starting young in high school, we can ensure that we’re setting up the best future for them and for our state,” Kunde said in an interview with The N&O..
New internship program in Treasurer’s Office
Kunde has been piloting the high school internship program for the Treasurer’s Office. Briner called Kunde an example of the kind of gifted and talented young person that they want interning for them.
The internship will be available to high school juniors and seniors anywhere in the state. One student will be selected for a fall, a spring and a summer internship.
The internship will include one-on-one mentorship with leadership throughout the Treasurer’s Office, a day of shadowing at Fidelity Investments in Research Triangle Park and working on the curriculum for the new financial literacy clubs. Students who complete the internship will receive a $500 scholarship.
Briner said he was encouraged to create the program because internship opportunities are becoming scarcer.
“We’re asking people to do pre-professional things in many cases and understand their career path long before they’re actually on one,” Briner said. “Internships are a critical part of doing that.”
Learn more about new programs
Email FinanceFridays@nctreasurer.com to get information on the internship and to sign up for the new financial literacy clubs.
