Testimony in Favor of Texas House Bill 27: Personal Financial Literacy as a High School Graduation Requirement.

My name is Vincent Branch. I'm an educator from Houston and I’m here today to support House Bill 27 and making Personal Financial Literacy a graduation requirement for all Texas high school students.

Before becoming an educator, I had a 15 year career in the financial service industry.  Since then, I have been in education for 11 years as a US History and Personal Financial Literacy teacher and currently as an administrator.

My own journey underscores the critical need for this legislation. I grew up in a working-class household where discussions about finances were limited to simply working to pay the bills. As a child, I was always curious about money and investing. 

I even aspired to be a stockbroker after watching the movie "Wall Street," but no one in my family had any knowledge of investing. In high school and college, I searched for courses on personal investing, but unfortunately, I couldn’t find any.

College, however, became my real-world classroom for learning about personal finance – the hard way. I was approved for a credit card with only my GI Bill as income and quickly racked up thousands of dollars in student loan debt. The financial mistakes I made in my youth haunted me well into adulthood.

These experiences fueled my passion for education. I became a teacher to help young people avoid the pitfalls I encountered. I wanted to give them the tools to make informed and intelligent financial decisions - something I desperately lacked.

I know there are some skeptics out there who may not like that Economics would become an elective course in order to make room for a Personal Financial Literacy requirement - and I do understand this concern. My bachelor’s degree is in Business Administration with emphasis in Economics. But I’ve witnessed firsthand how students and families respond differently to these two courses. 

Economics provides a robust framework for understanding how markets function, how policies impact our lives, and how to think critically about economic issues. It teaches students about supply and demand, inflation, and the role of government in the economy. 

By offering Economics as an elective, we allow students with a specific interest in these areas to delve deeper on more of a macro level, and to prepare them for future studies or careers in fields like business, finance, and public policy. Not every student will choose this path, but every student will manage their personal finances, no matter what level of income they go on to earn.

Personal Financial Literacy is the only course that provides students with the micro level, practical, day-to-day financial knowledge and skills needed to thrive in our 21st century economy and beyond. This course includes: 

• how to create and stick to a budget

• the importance of saving for future goals

• understanding how credit scores work

• the dangers of high-interest debt

• how to manage loans responsibly

• basic knowledge of investments and the power of compound interest

• the importance of early retirement planning

• how to protect yourself from fraud

• managing insurance

• the psychological influences that impact our financial decision-making

• and how to make informed purchases as a consumer

Financially literate citizens are more likely to be responsible consumers, entrepreneurs, and contributors to the Texas economy, so this is not just about individual well-being. It’s about strengthening our entire state economy. 

If HB 27 succeeds, Texas would be joining 26 other states that recognize the importance of a semester course in personal finance. All of our neighboring states - Alabama, Louisiana, Florida, and Georgia - require this course. We cannot allow Texas to fall behind! 

I urge you to support HB 27 and invest in the financial future of Texas students.

Thank you for your time and consideration.

Take Action:

Call and/or write your Texas state representative today and encourage them to vote "yes" to HB27!!!