NZ schools to teach kids how to be financially capable

 

A nationwide schools programme to teach students about money will start later this year.

The Commission for Financial Capability is looking for schools to take part in its NZ$10 million ‘Sorted in Schools’, with a focus on years 9 to 13.

 “CFFC research has shown that 16 to 24-year-olds are particularly vulnerable in incurring unmanageable levels of debt, which can send them down a financial rabbit hole from which they may never recover,” spokesman Kelly Gay says in a press release.

A 2018 student survey by the Commission found that 82 per cent wanted to learn about money in class time, rather than outside of school, and they wanted to learn about budgeting and borrowing money.

“The aim of Sorted in Schools is to equip these students with financial capability so they avoid the traps of high credit, loans and other forms of financial quicksand, and know how to build their financial wealth through every life stage toward retirement,” Gay says.

Gay is now working with teachers to develop resources.

Schools wishing to be involved in the pilot can contact Gay through the commission, cffc.org.nz.

First published 14 March 2018

JUNO does not contain financial advice as defined by the Financial Advisers Act 2008. Consult a suitably qualified financial adviser before making investment decisions. This story reflects the views of the contributor only. Content comes from sources that JUNO considers accurate, but we do not guarantee that the content is accurate. Charts are visually indicative only.