Teaching Financial Skills Means Strengthening North Carolina’s Workforce

by Sandy Wheat, Executive Director

This spring, people across the country are applauding another class of high school graduates. But if history is our guide, many of these young adults will be better prepared for college and careers than they are for managing a paycheck, building credit or avoiding high-cost debt.

This underscores why the ongoing work of the North Carolina Council on Economic Education matters. We are making inroads with students by educating their teachers. In 2025 alone, we helped more than 1,000 teachers complete more than 12,000 hours of professional development around financial education, directly benefiting nearly 108,000 students, 68% of whom come from low-to-moderate income communities. These are the future employees, entrepreneurs and consumers who will drive our state’s economy.

For employers, the financial education gap doesn’t just affect individuals. It shapes the readiness, resilience and long-term stability of our workforce. As research consistently tells us, financial education changes behavior. Study after study has shown that students with stronger financial literacy skills are significantly more likely to save, budget effectively and make thoughtful spending decisions throughout their lives. Individuals with more financial knowledge are also less likely to carry costly debt and more likely to build emergency savings — outcomes that compound over time.

And yet, financial literacy levels remain low. Only about half of American adults can correctly answer basic questions about interest rates, inflation and risk. In North Carolina and elsewhere, that gap creates consequences for families and for our broader economy.

For North Carolina’s business community, those consequences are not abstract. Financial stress is a leading driver of employee distraction and absenteeism while limited financial knowledge inhibits workers’ ability to fully take advantage of benefits. A workforce that lacks financial confidence tends to be more vulnerable and less productive.

Some 96% of our participating teachers report feeling better prepared to teach personal finance and 94% say they feel more confident managing their own finances. In 2025, NCCEE programs like the Stock Market Game™ and Invest in Girls helped nearly 20,000 North Carolina students sharpen their financial, math and critical-thinking skills. The result was measurable academic gains with a majority reporting they will be more careful with their money going forward.

These gains represent early indicators of a more financially capable, resilient workforce. When young people gain financial confidence, the impact extends beyond individual households. It strengthens economic mobility, supports a more stable workforce and reduces downstream economic risk.

Financial literacy is more than a nice-to-have life skill. It is a foundation for a strong workforce and a competitive economy. When we equip students with practical financial knowledge, we are not only expanding opportunity but strengthening North Carolina’s economic future.

It’s a cliché because it’s true: a rising tide lifts all boats. For our state and its business community, financial education is that tide.