Date on Honors Thesis

Spring 5-6-2026

Major

Accounting/Financial Planning

Minor

Real Estate

Examining Committee Member

David Durr, PhD, Committee Member

Examining Committee Member

Stephen Lacewell, PhD, Comittee Member

Examining Committee Member

Michael D'Antuono, PhD, Advisor

Abstract/Description

This study examines the correlation between taking a financial literacy class in high school and an individual’s actual financial literacy. It is inspired by the recent Kentucky House Bill 342, which mandates that a financial literacy class be taken during high school. According to recent studies, Generation Z scores the lowest on a financial literacy index among the past three generations. To address this, many U.S. states have introduced mandatory financial literacy classes in K-12 education. In 2025, Kentucky joined the 30 states that mandated a financial literacy class for a high school diploma. The Kentucky House Bill 342 selects a range of topics that provide a foundation for a young adult's understanding of the financial world; however, opponents of the bill question the need and effectiveness of a state-mandated financial literacy education. In support of Kentucky House Bill 342, I hypothesize that those who have taken a high school financial literacy class will perform better on overall financial literacy measures than those who have not. To investigate this hypothesis, I administered a survey to test participants’ financial literacy competency. The goal of the survey is to discover any correlation between individuals who have taken a financial literacy class and those who exhibit financially literate traits. These traits manifest in comprehension of financially literate theory and the practical application of financially literate habits. After thorough analysis of the survey results, it is concluded that a financial literacy class taken in high school does result in better financial literacy for an individual, thus confirming the hypothesis.

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