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.
Recommended for you
Sharing his reasoning in joining the FSC board, WT Financial chief executive, Keith Cullen, believes “product and advice cannot be separated” from each other in the current environment.
The Emerge Foundation, a charity run by financial advisers and fund managers, has announced a scholarship program to help veterans transition into tertiary education.
In an open letter, Sequoia chief executive Garry Crole has hit out against shareholders “with a personal axe to grind” as he fights for his job ahead of an EGM.
The JAWG has announced it is in talks with Treasury around five “core principles” to strengthen the education standards for new entrants to the financial advice space.