Massachusetts
Should financial literacy classes be a requirement for Massachusetts students?
BOSTON – Credit scores, interest rates and taxes. Nine out of 10 students in Massachusetts are not required to learn about these things. Should the state make financial literacy a requirement for students?
As a teenager navigating middle school and high school Sean Simonini never got “the talk.”
“So, you think of the ‘birds and the bees’ right, that’s pretty uncomfortable topic right? But people feel even more uncomfortable talking to their kids about credit cards!” Simonini said.
Simonini says our schools really aren’t talking about money either. He was a star student at Billerica High. He earned a full scholarship to the University of Massachusetts-Lowell.
“But I couldn’t tell you anything about my taxes,” Simonini said. “Couldn’t tell you what a credit score was. What a 401k was.”
So, the 19-year-old college sophomore is on a mission which started in high school, when Simonini joined his town’s school board as a student representative. Lately, he’s been testifying at the State House pushing a bill which would make a standalone, financial literacy class a requirement for every student in every district. The classes and teacher training would be funded by the State, not the local communities, with a so-called “financial literacy trust fund.”
“I started pulling together what would an education look like, where every student walked away with the skills they need to succeed. One of the first gaps I saw staring back at me was the lack of financial literacy here in the Commonwealth,” Simonini said.
Right now, 25 states have financial literacy as a graduation requirement. Massachusetts isn’t one of them. Yet our neighbors in New Hampshire, Connecticut and Rhode Island do require the course. Champlain College in Vermont has a Financial Literacy Center and puts out a report card every year grading each state on their efforts. Twenty-nine states got an ‘A’ or ‘B’. Massachusetts got an ‘F.’
Why? Well, out of more than 300 school districts in our state, only 16 districts require students to pass personal finance class.
Simonini says we are setting kids up to take on a lifetime of debt without knowing the ramifications. “We are allowing 18 year-olds to sign off on loans that are half a mortgage. Hundreds of thousands in an instant. And we are not orienting them at all to the financial impacts that can have on them decades down the road,” Simonini said.
Sue Camparato is teacher in Swampscott who believes Massachusetts is falling way behind other states. Swampscott is one of the districts that requires a personal finance class. Camparato teaches her students about credit scores, interest rates, stocks, how to save money and how to file taxes.
“I never have anyone say, ‘When am I going to use this?’ Never,” Camparato said.
One of her students, Sam Snitkovsky says this education has never been more important. He says kids are constantly targeted on sites like TikTok by so called money gurus peddling financial fiction.
“This information isn’t coming from like ‘user3015.’ It’s coming from an actual teacher in the school, and you know the information is true,” Sam said.
Simonini thinks our lawmakers mistakenly think students are learning about money at home or in the nearly extinct “home ec” classes they took. “Over 50% of parents in this country don’t feel comfortable talking to their kids about money,” Simonini said.
State Treasurer Deb Goldberg leads the state’s Office of Financial Empowerment which offers a ton of free programs outside the class for young children all the way through senior citizens. “When we do our Credit for Life fairs for high school students, it is amazing what they don’t know,” said Goldberg.
Goldberg also believes a financial literacy course should be a requirement and is hoping lawmakers will move on the issue.
Goldberg believes a public-private partnership between Beacon Hill and outside partners could pay for the programs in every district. There are certainly hurdles to clear but she and Simonini think it’s needs to happen. Massachusetts cannot get an “F” on its next report card.
If you have a question you’d like us to look into, please email questioneverything@cbsboston.com.
Massachusetts
Meteor Lands In Cape Cod + Bus Crash Kills 5 From MA + Wind Storm Knocks Out Power To Thousands: MA Weekend
MASSACHUSETTS — Residents throughout New England were simultaneously startled as a meteor that landed in Cape Cod caused a sonic boom this past weekend.
Meanwhile, a bus driver is facing charges after five Massachusetts residents died in a crash on a highway in Virginia.
Plus, another State Trooper was caught handling a wrong-way driver situation on Route 1.
Mysterious Boom Heard Across MA Was An Exploding Meteor, Experts Say
The noises were heard around 2:11 p.m. Saturday, with people describing a sudden bang that rattled windows and even shook some homes. The American Meteor Society said that the booms heard were actually caused by a meteor about three feet wide entering the atmosphere near the border of Massachusetts and New Hampshire.
Residents as far as Ipswich and Johnston, Rhode Island, reported hearing and feeling the sensations. Meteorologist Nick Stewart shared satellite images from the National Oceanic and Atmospheric Administration, showing where the meteor entered the atmosphere and combusted while traveling at 75,000 miles per hour above the ocean.
Bus Driver Charged After MA Family Of 4, Worcester Woman Killed In VA Crash
Jing S. Dong, of Staten Island, New York, now faces two counts of involuntary manslaughter in connection with the collision, which occurred around 2:35 a.m. Friday on southbound I-95 near Quantico. Among those killed were a 45-year-old man, a 44-year-old woman, a 13-year-old girl and a 7-year-old boy, all from Greenfield, Massachusetts. All were in the Acura, which police said caught fire after the collisions. Police on Saturday evening identified the fifth person killed as Priscilla R. Mafalda, 25, of Worcester, Massachusetts, who was riding in the Suburban struck by the bus.
In total, about 44 people were transported to area hospitals, including three with critical injuries.
State Trooper Hospitalized After Route 1 Wrong-Way Crash In Peabody
State Police said the trooper was hospitalized with non-life-threatening injuries after police acted in coordination to protect traffic and stop the driver, who was traveling southbound on Route 1 North in Peabody. The incident occurred not far from the location on Route 1 where State Trooper Kevin Trainor was killed when his cruiser was hit head-on in a wrong-way crash in Lynnfield last month. The driver in Sunday’s crash was also hospitalized and charged with operating under the influence of liquor, negligent operation of a motor vehicle, and driving the wrong way on a state highway.
Rapidly Expanding Grocery Chain Has Big Plans For MA
Sprouts Farmers Market is slated to launch up to 40 locations throughout the region in the coming years. Construction has begun for the first Massachusetts spot in Weymouth, which has an opening date of 2028. The Phoenix-based organic grocery chain has more than 480 stores in 25 states.
Saturday’s Meteorite Was ‘Fishy Squisher’ And NASA Knows Where To Find It In Cape Cod Bay
Data from NASA suggest fragments of the meteorite lie in waters from the middle of the bay to about 10 miles northeast of the town of Sandwich. The agency said late Saturday it picked up radar signatures of the fragments from four radar sites, and termed the strike a “fishy squisher.” The meteorite entered Earth’s atmosphere about 40 miles above the Bay State and southern New Hampshire, creating the sonic boom. Water in the bombarded portion of Cape Cod Bay is about 100 feet deep.
35K Without Power As Winter-Like Storm Pummels MA With 55+ MPH Winds
Massachusetts residents throughout the North Shore were without power on Saturday morning as a winter-like storm tore a path of tree damage, downpours, and fierce winds throughout New England. Widespread tree damage was reported across the state, with the Massachusetts Emergency Management Agency reporting 34,228 customers without power as of 11:20 a.m. Wind speeds reached a high of 55 miles per hour. Temperatures dropped into the 40s with wind chills in the 30s as the storm arrived across the Bay State. The unsettled weather will continue through Monday and Tuesday before a warming trend takes hold later in the week.
See Also:
Cape Shoreline Named Among The Nation’s 10 Best, According To ‘Dr. Beach’
Massachusetts
Markey wins Mass. Dems’ endorsement as Moulton clears ballot hurdle in Senate race
U.S. Rep. Seth Moulton, a moderate Massachusetts Democrat, secured enough delegate support Saturday to appear on the state’s primary ballot as he challenges incumbent U.S. Sen. Ed Markey in this year’s Senate race.
Yet even though Moulton cleared a key hurdle to continue his Senate bid, it was Markey who won the party’s endorsement after winning more than 50% of the delegation’s support.
“You have a choice, you have to decide what the future looks like and what you’re going to demand,” Markey said Saturday in front of more than 4,000 delegates.
Markey won nearly 73% of the delegates’ support, while Moulton won nearly 27% of the vote. Massachusetts Democratic Party rules require statewide candidates to get at least 15% of delegate support to appear on primary ballots.
In heavily Democratic Massachusetts, the Senate primary contest is one of the most closely watched in the country as Moulton, 47, has centered his campaign on changing the status quo and demanding a generational shift in leadership.
If reelected, Markey would be 80 before his third six-year term would begin. While Markey has touted his stamina and embrace of progressive policies, questions about age have continued to swirl around Democratic candidates as they fight to take back control of Congress.
Incumbent Sen. Ed Markey is leading Rep. Seth Moulton, but if Rep. Ayanna Pressley were to enter the Democratic primary, it would change the picture, according to a new poll from Suffolk University and The Boston Globe.
In his nomination speech, Moulton argued that the Democratic Party needed more than “incremental change” and needed to start anew.
“It’s time for the generation that grew up with the internet, and will have to live for decades with AI, to lead our way through it,” Moulton said.
Moulton only addressed his opponent briefly during his nomination speech, giving a passing nod on not waiting another six years for generational change and later calling on Markey to participate in multiple debates before the September primary. Currently, the two candidates have agreed to participate in one debate later this summer.
Markey, instead, took a more critical approach by attacking Moulton’s previous comments about transgender kids and accepting corporate PAC money.
“Massachusetts deserves better than a senator who scapegoats trans kids,” Markey said to loud cheers.
In 2024, Moulton caught flak from some members of his party for saying he didn’t want his daughters playing in sports against transgender girls. Critics said Moulton echoed Trump’s talking points against allowing transgender athletes in girls’ and women’s sports.
Moulton has since said his intent with that statement “was to point out that, as a party, we need to be willing to have difficult conversations.”
Moulton, who enlisted in the Marines after the Sept. 11, 2001, attacks and served four tours of duty in Iraq, was first elected to the U.S. House of Representatives in 2014. He briefly launched a 2020 presidential campaign, but he dropped that bid after a few months.
Markey served as a Massachusetts congressman for nearly 40 years before winning the Senate seat in 2013. He fended off a challenge in 2020 from Rep. Joe Kennedy III in the Senate primary by turning to his progressive allies to overcome a challenge from a younger rival from America’s most famous political family.
The Massachusetts primary is Sept. 1.
Massachusetts
Randolph woman wins $1M lottery prize, plans to use winnings for home improvements
RANDOLPH, Mass. (WWLP) – A Randolph resident has won a $1 million prize through the final drawing of the Massachusetts State Lottery “$4,000,000 Monopoly Doubler” instant ticket game.
Brenda Mellor of Randolph claimed the game’s tenth and final $1 million prize.
She selected the cash option and received a one-time payment of $650,000 before taxes. Mellor said she plans to use the winnings to pay for home improvements, including renovations to her roof and pool.
The winning ticket was purchased at The Variety Store at 2 Mazzeo Drive in Randolph. The retailer will receive a $10,000 bonus for selling the ticket.
Local News Headlines
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