Pursuant to the requirements of House Bill 04-1360 (Colorado Revised Statutes, 22-7-127), the Colorado Department of Education has developed a financial literacy resource bank to provide technical assistance in financial literacy to school districts. In addition to House Bill 04-1360, House Bill 1168, passed in 2008, required the adoption of standards for Financial Literacy.
The Colorado State Legislature has allocated $40,000 to CDE to promote financial literacy and to create and maintain a resource bank of materials pertaining to financial literacy. Financial literacy enables students to manage savings, investment, and checking accounts, to design and maintain a household budget, to manage personal debt, to understand consumer credit and finance, to manage personal credit options, and to understand and select among short-term and long-term investment options.
In December 2009, the Colorado State Board of Education adopted revised content standards that included integration of Personal Financial Literacy standards within both the economics and mathematics content areas. In addition to adopting these aligned standards, CDE will continue to build upon the resources in the financial literacy resource bank.In support of this initiative a, Personal Financial Literacy Summit for district leadership will be held in spring 2010.