Financial Literacy Boost for Local Students
Local school students in will be given the opportunity to fine tune their financial literacy skills and learn about ways to secure their own future, including through initiatives like the new Kids Future Fund account, under a plan from the NSW Liberal and Nationals Government.
Under this Liberal and Nationals plan:
- The NSW Treasurer’s Financial Literacy Challenge, launched in 2022 for students from Kindergarten to Year 10, will be expanded to include Years 11 and 12 students under a new partnership with Chartered Accountants Australia and New Zealand.
- Content for Kindergarten to Year 10 students will also be updated to ensure students understand, and are able to make the most of, financial initiatives such as the new Kids Future Fund account.
State Member for Ku-ring-gai Alister Henskens SC said that boosting financial literacy skills of students would help give them a head start in securing their own financial security.
“Years 11 and 12 students often have casual or part-time jobs and are actively considering their next steps after school – whether that be university, vocational education and training or work,” Mr Henskens said.
“This initiative will ensure students in all year groups obtain crucial knowledge about managing their money, including taxes and super, emerging technology and financial cyber security.
“We will ensure students have access to vital skills so they can futureproof their finances and have a head start in life.
“This is all about empowering our children with the knowledge they need to set themselves up financially and ensuring they’re able to make the most of initiatives like the new Kids Future Fund.”
“This is important so that they can make informed financial decisions based on their own circumstances,” Mr Henskens said.
The Challenge will remain online, self-paced, and voluntary. Students will be issued with a certificate when they have completed the Challenge.
The expanded Challenge would be available for the 2024 school year.