The Australian Securities and Investments Commission (ASIC) is showing its support for National Close the Gap Day, introducing a financial literacy tool for indigenous students and aiming to address cultural and community values around money and finance.
ASIC’s financial literacy teaching resource – Knowing, Growing, Showing, would be presented in three stages to provide progressive learning for students and focus on individual interests. Knowing would provide an introduction to the basics of money, while growing would aim to develop skills for smart financial decisions. The final stage would see students apply their learning successfully.
Indigenous Australians were a key priority under the National Financial Literacy Strategy coordinated by ASIC, as well as in the regulators’ Indigenous Outreach Program (IOP).
“Knowing, Growing, Showing is one way we are working collaboratively with schools to equip students with the skills and strategies needed to manage their money,” ASIC commissioner, Cathie Armour said.
“Having the right skills and knowledge to understand financial concepts, such as budgeting, saving and managing debt will support their financial wellbeing.”