This projects aims to

  1. See every student leaving school with the necessary basic skills in financial matters to become confident and informed consumers in their work and personal life;
  2. Develop a coordinated approach to the supply and sharing of information on financial literacy for teachers;
  3. Promote teacher training and professional development courses to support the effective teaching of financial literacy

Financial decisions are inevitable in all of our lives, and so we believe that every youth should be taught the necessary skills to manage these decisions early in life. There is a general consensus in the community that a lot young adult, lack financial literacy. High school and university simply do not prepare us enough. Through research, we realized that high school students are supposed to learn personal finance. However, due to a lack of resources and teacher expertise, personal finance is not a well-taught subject in high school despite its importance! This program is founded to fill the need to improve financial literacy for youth of school, colleges, and young employees of corporate.

Financial literacy is defined as the ability to make informed judgments and to take effective decisions regarding the use and management of money. In today’s world of increasingly complex financial decisions, financial literacy may be considered a vital skill for all consumers.

To fully realise this goal, it is important that learning about money management begins at an early age, so that every school leaver has the necessary basic financial skills to become confident and informed consumers in their work and personal life

Financial literacy is a relative concept. It is relative to the complexity of the financial system and products in a society and an individual’s needs and circumstances. Somebody who was financially literate 50 years ago may not be considered financially literate today. In our society we are requiring consumers’ financial literacy to be constantly improving to cope with the changing financial and social environment.

Financially illiterate consumers may be:

  • unable to budget appropriately to meet expenses;
  • unable to identify financial products or services that meet their needs;
  • unsure how to get and assess independent financial advice; and
  • more likely to fall victim to abusive practices and scams.

Financial literacy could be taught:

(a)   on the basis of existing curriculum in the Key Learning Areas (eg in subjects such as Commerce and Maths) or

(b)    as part of a life skills strand or a personal development course;


Financial literacy framework consists of the following key skills and areas of knowledge:

a)      Mathematical literacy and standard literacy

  • essential mathematical
  • reading and comprehension skills

b)      Financial understanding

  • an understanding of what money is and how it is exchanged
  • an understanding of where money comes from and goes

c)      Financial competence

  • understanding the main features of basic financial services;
  • understanding financial records and appreciating the importance of reading and retaining them;
  • attitudes to spending money and saving; and
  • an awareness of the risks associated with some financial products and an appreciation of the relationship between risk and return.

d)       Financial responsibility

  • the ability to make appropriate personal life choices about financial issues;
  • understanding consumer rights and responsibilities; and
  • the ability and confidence to access assistance when things go wrong

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