By teaching kids how to handle money from an early age, you give them the essential knowledge and skills to make wise financial decisions throughout their lives. (Paul Clitheroe, Chairman, Australian Government Financial Literacy Board)
Internationally there is a growing recognition that consumer and financial literacy education must start at school. This means that schools have an opportunity to improve the financial literacy of future generations by educating young people:
- about money
- on the benefits of saving and protecting their money
- on developing their ability to critically analyse and think financially across a range of contexts
- to become informed consumers and investors capable of making financially responsible decisions.
As business educators, you play a vital role in increasing the financial literacy levels of our young people. In fact, as financial literacy is integrated across many areas of the Curriculum, you are in a position to take a leadership role in this area.
The Australian Securities and Investments Commission (ASIC) can support you in this role. We are committed to raising the awareness of financial literacy and its benefits, and creating opportunities for Australians of all ages to learn more about money. We are the lead Australian government agency with responsibility for financial literacy.
Why is financial literacy so important and what exactly is ASIC doing to support you in this work?
- Global push for financial literacy
- National Consumer and Financial Literacy Framework
- The Australian Curriculum
- Helping our kids understand finances
- The National Reference Group
- Supporting website to build capacity for all teachers
- What’s coming?
EBE NSW Directors have their say on financial literacy
EBE NSW Directors Joe Alvaro and Liz Criddle were interviewed by Kristie Kellahan from the Sydney Morning Herald about the importance of financial literacy in the curriculum. (‘Financial guidance on the money’ SMH MyCareer-Education October 1-2, 2011). Joe explained the place of financial literacy in the Commerce curriculum and the programs he has designed to invite financial services providers into the classroom. Liz, recipient of the 2011 First State Super NSW Premier’s Financial Literacy Scholarship, spoke in particular about the need for young women to be financially literate. Liz is looking forward to exploring global perspectives on financial literacy as part of an overseas study tour in 2012.
Download article: (The Sydney Morning Herald, MyCareer Education, October 1-2, 2011, written by Kristie Kellahan)