High schoolers should learn financial literacy
Financial literacy training should be embedded in the high school curriculum, a review has concluded.
After a lengthy consultation process, The Australian Securities and Investments Commission (ASIC) came up with a series of financial literacy priorities for the next three years, the cornerstone of which was educating the next generation about finance.
The plan involves educating school teachers to confidently talk about financial literacy and formalising its teaching in the high school syllabus.
Other priorities included increasing the number of trustworthy internet sources of information for consumers and investors and improving referral and support networks.
When asked about current gaps in the market, respondents identified access to low-cost services for those not in crisis, information tailored to indigenous people, and financial literacy programs in workplaces as areas that need improvement.
The consultation, which elicited 58 written responses, formed the basis of ASIC’s financial literacy strategy paper for 2014-2017.
AUTHOR
Kate Cowling
Recommended for you
With Fortnum Private Wealth and Professional Financial Services now unified under the Entireti umbrella company, CEO Neil Younger has detailed to Money Management the firm’s new direction and future expansion.
The FAAA has suggested looking offshore for overseas financial advisers to ease the adviser shortage, but are employers willing to take on the burden of workplace visas?
There may be a huge influx of alternatives coming to the market, but timing and access difficulties mean advisers can easily end up disappointed with their selection, according to Morningstar global CIO Dan Kemp.
An NSW individual has pleaded guilty to one criminal charge of providing unlicensed financial services after promoting crypto investments at national seminars.
