Ontario high school students will soon need to pass a financial literacy test in order to graduate.

Education Minister Paul Calandra says students need practical, real-world skills, including how to manage money and budgets.

Updated curriculum requirements for financial literacy were set to take effect at the beginning of this school year, but Calandra paused that and a few other curriculum updates in June to give teachers more time for implementation.

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Instead of adding financial literacy to the Grade 10 math curriculum, it will remain in the Grade 10 career studies curriculum and will come with a mandatory test.

TVO is developing learning modules and test questions, and students must achieve at least 70 per cent to pass.

If students are not successful after the second attempt, the Ministry of Education says they could get additional instruction and support before trying again.