Senator the Hon Nick Sherry, Minister for Superannuation and Corporate Law and Mr Paul Clitheroe, Chairman of the Financial Literacy Advisory Board, today launched a package of support materials and resources to help teachers deliver consumer and financial literacy education in schools.
“Financial literacy is an absolutely vital life skill for young Australians. The Rudd Government recognises that it’s critical that young people get the chance to learn money skills at school so they’re better equipped to make informed consumer decisions,” Minister Sherry said.
“It’s important that young Australians have the knowledge to deal with financial issues from an early age. With mobile phones, credit cards and internet banking, there are a wide range of financial issues young people have to contend with,” Mr Clitheroe said.
Over 2008, consumer and financial literacy will be incorporated into core subjects, including English and maths, and across all years from Kindergarten to Year 10. Topics for study include basic budgeting, banking, credit cards and mobile phone plans.
“I would like to congratulate the public, independent and Catholic school sectors for their collaborative efforts to integrate consumer and financial literacy into the school curriculum,” said Minister Sherry.
The groundbreaking new package includes training modules for facilitators, a teacher’s guide and a DVD showing how consumer and financial literacy has already been introduced across primary schools in the Maitland region in NSW. The online package and support materials and resources for teachers are available at www.financialliteracy.edu.au.
From next month, teachers in primary and secondary schools nationally, will also receive professional learning on how to integrate consumer and financial literacy into core subjects through the Department of Education, Employment and Workplace Relations’ Australian Government Quality Teaching Program.
“Teachers must receive the support they need to teach financial literacy in our schools. I would also like to acknowledge the important role parents can play in fostering these skills in their children – today’s package will further assist these grass roots champions of learning,” Minister Sherry said.
For more information about consumer and financial literacy in schools, see www.understandingmoney.gov.au/content/education.