Strathfieldsaye Primary students to learn money skills

STRATHFIELDSAYE Primary School will trial a new program aimed at developing “money smart” children.

The school was one of only 13 across the state invited to take part in the MoneySmart Primary Teaching Learning package, an Australian Securities and Investments Commission (ASIC) initiative.

Teacher training and a parent and community evening got under way last week.

ASIC commissioner Peter Kell said research showed young Australians, particularly those aged 18 to 24, were most at risk.

Mr Kell said the key to effective financial literacy education was to start young.

“Today’s young Australians live in an increasingly complex and digitally connected world with the proliferation of mobile phones and ready to access money and credit,” he said.

“Through MoneySmart teaching, students learn about saving, spending, donating and investing by applying these principles to real life.”

The program is part of a $10 million federal government grant aimed at improving financial literacy in schools.

Mr Kell said the program was designed to encourage students to take charge of their money and develop positive, long-term skills and behaviour.

But he said it was not only the attitudes of young people that needed to be addressed. “ASIC’s strategy also aims to encourage teachers to take charge of their personal finances,” he said.

“Teachers play a crucial role in producing young people who are financially literate and consumer savvy, so it made sense to us to also develop resources to help teachers manage their own money.”

For more information about the MoneySmart project, visit www.teaching.moneysmart.gov.au

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