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For Young People

According to money and pension services, financial education in schools will help young people build foundations for future financial wellbeing and resilience.

Children and young people who say they learned about managing money in school do better on many measures of financial capability than their peers.

They are more likely to:

  • save up frequently
  • have a bank account, and
  • be confident managing their money.

Financial education helps young people learn how to manage their money now and in the future, choose the best financial products and services and protect themselves from fraud and exploitation.

Learning objective and outcomes for financial education for young people in secondary school:

  • Adopting the right mindset around money
  • Understanding the different types of income and understanding how tax works
  • Understanding different types of debt and how to manage and calculate interest
  • Knowing how to save for long-term goals, including purchasing a home or car
  • Develop a budget and incorporate smart spending habits that will help them stay within their budget and achieve their financial goals.
  • Understanding how to protect against risks

To help students master these skills, sessions would include a variety of teaching of financial concepts, strategies and resources. Including interactive lessons and activities, hands-on projects and simulations and competitions that allow students to apply their learning in a real-world context.