There's a new law in Iowa that requires high school students to take a financial literacy course to graduate. I think that's a fantastic law.

Over the years I can't tell you how many times one of my friends posted something on Facebook about how they wished they knew more about money management when they went off to college, or had just graduated college. I sometimes wonder if I would have started saving for retirement sooner, or maybe not bought those sweet stereo speakers on credit in college if I had more of an understanding of finances.

According to KCRG "the state requires the semester-long course to address nine key areas: savings, understanding investments, wealth building and college planning, credit and debt, consumer awareness of the power of marketing on buying decisions, financial responsibility and money management, insurance, different types of insurance coverage and buying and renting."

That's pretty comprehensive and practical. In a world where college is expensive, retirement is expensive, and we all seem to be earning less. It's a great way to help our youth set foot in the world a little more prepared than many of us were.