Newsom signs executive order to expand women’s-wealth initiatives and accelerate high-school financial literacy

Governor Gavin Newsom signed an executive order at San Lorenzo High School to coordinate state efforts that promote women’s access to capital and expand financial literacy for California high school students.

“Knitting these things together now is what this executive order is all about,” Newsom said, describing the effort as part of a broader strategy to “democratize our economy” by investing early in children and families.

The event featured educators and advocates who said classroom instruction plus account-based incentives can change students’ trajectories. Tim Ranzetta, cofounder of the nonprofit NextGen Personal Finance, told the crowd how a single semester of personal finance transformed a former student’s path and credited Senate/assembly action (referred to in remarks as “B-2927”) for ensuring the course will be broadly available. “Every single student in California will now be able to benefit from a personal finance course,” Ranzetta said.

Judy Smith, an economics and social studies teacher at San Lorenzo High School, described years of classroom experience embedding personal finance projects into economics classes and welcomed a standalone course that allows deeper instruction on budgeting, credit and investing. “My students tell me after doing the project… they say things like ‘everybody should be learning this,’” Smith said.

First Partner Jennifer Siebel Newsom, who outlined the California Women’s Wealth Advisory Council’s work, said the executive order will bring investors, philanthropists and business leaders together to find ways to move capital to women entrepreneurs and women-led funds. She told the audience that, under current planning, financial literacy instruction will be provided in every California public high school beginning in 2027.

Newsom cited program details and existing initiatives the order will link: earlier kindergarten-to-college savings efforts, career-and-college savings accounts, an expansion of CalKids accounts and newborn-targeted 'baby bonds.' He said roughly 5,500,000 Californians are eligible for certain career-and-college savings accounts that can include up to $1,500 in specified categories (with a universal minimum of $500), and he said CalSavers helps millions of workers without employer retirement accounts.

Supporters at the event pointed to early implementation work. Ranzetta praised a step-by-step guide produced by the State Board and the IQC that he said will help districts roll out the course, and he recognized district leaders who piloted the curriculum.

The governor and First Partner paused for photos and the formal signing. Event staff described the action as an executive-order signing by the governor to align programs and direct state leaders to explore partnerships and tools supporting long-term wealth creation for women and families.

The next steps the governor described were mainly administrative and legislative: coordinating with caucuses and staff in Sacramento, directing agencies to explore partnerships, and encouraging districts to adopt the new course with the support of the implementation guide. Officials at the event did not announce a specific funding package or an implementation timeline beyond the 2027 start date for statewide high-school instruction.

What happens next: state agencies and the advisory council named in remarks will develop implementation details, and districts will be able to use the State Board/IQC guide and local partnerships cited by NextGen Personal Finance to roll out courses.