Financial education in schools and tertiary education
Chair: Jan Anderson, Principal, Otago Girls’ High School
More than 60 people took part in the session on financial education in schools and tertiary institutions. They represented a wide range of organisations - education groups, schools and tertiary institutions, banks and financial institutions, government agencies, unions and community groups.
They were asked to look at how financial education could be promoted to schools and tertiary institutions, and how participation within schools could be increased.
"We need to make sure teachers are supported and financial education is properly funded."
A wealth of ideas came from the discussion - these are available to everyone to act on.
Schools
- Create a one-stop shop for financial education where all schools can look.
- Connect to teaching unions to educate teachers.
- Promote financial education to teachers during their initial teacher training.
- Approach boards of trustees to get them to embrace the concept – target regional boards of trustees groups.
- Develop networking between schools to support the introduction of financial education.
- Promote success stories – use social media, e.g. Facebook.
- Share ideas and stories at principals’ conferences.
- Open up schools which are teaching financial education for other teachers to visit.
- Demonstrate and promote information to principals.
- Introduce professional development for teachers not just on how to teach financial literacy but to upskill their own financial literacy.
- Hold open days for parents to share what their children are learning in financial education.
Tertiary institutions
- One size does not fit all within the tertiary sector.
- Identify the benefits of financial education for tertiary institutions.
- Understand student needs and requirements – target specific needs or across the board?
- Develop funding mechanisms and infrastructure for financial education.
- Showcase good practice – connect people.
- Make financial education compulsory for students wanting to take out a student loan.
- Capitalise on the current economic climate for this work.
- Involve staff to get their buy in.
- Make financial literacy courses compulsory in under-graduate qualifications.
