Archive | Financial Literacy

RSS feed for this section

13 August 2012

Money Week

Filed under: Financial Literacy - Tags: , - @ 12:56 am

Manage Your Money Better

Money issues are top of mind for most people, usually in the sense of worrying about money. Just like those piles of work papers that aren’t yet dealt with or the list of things that need doing around the house, money issues can drain your energy if they are not sorted. That’s why every now and then it’s a good idea to really focus on money, address the issues and learn ways of managing it better.

The Commission for Financial Literacy and Retirement Income has launched the first annual Money Week, a week-long series of financial events and activities around the country, the aim of which is ‘to raise awareness of how people can better manage their money and get help as they do that’. Organisations throughout NZ are being challenged to get involved in Money Week by running an event or activity that engages with people and empowers them to take action to better manage their everyday money. Financial institutions, schools and tertiary institutions, community groups and employers can all become involved by running money-themed events. A list of registered events can be found on the Money Week website. Members of the public will be able to get free financial advice during Money Week by calling the Institute of Financial Advisers (IFA) to register for an appointment. More information is available on the IFA website. Other planned events include investment seminars, budgeting workshops, radio broadcasts on financial literacy, guided tours of the Reserve Bank Museum and lunchtime seminars at workplaces.

This is a great initiative for bringing attention to financial literacy and is deserving of support from every individual and organization in the country through either running or attending an event. So when is Money Week? Sunday 2 September to Saturday 8th September. Mark your calendar now!

Comments { 0 }

2 July 2012

First Train the Teachers

Filed under: Financial Literacy - Tags: - @ 1:59 am

First Train the Teachers

Financial management skills are best taught at a young age, however despite the development of a curriculum for financial education, few schools have taken up the opportunity to teach kids about money, claiming lack of resources and a crowded curriculum. There is another very significant barrier to financial education and that is the lack of financial skills in teachers themselves. Teachers at all levels of our education system have an important role to play in improving financial literacy and they need to be properly trained and resourced to carry out this role.

An exciting new pilot programme is about to get underway which will train tutors from Whitireia Polytechnic so they can acquire the skills and resources needed to deliver financial education. This initiative arose from a joint research project between the Commission for Financial Literacy and Retirement Income and Visa to explore ways of increasing the quality of formal financial education. The research was based on a survey of a number of institutions involved in trade training and the provision of community services. It showed that tutors in the surveyed institutions tended not to have specific expertise in the content or processes of financial literacy. Often, they relied on their own personal experience of financial matters. Less than half had received training or professional development and what they had received was not exclusively linked to financial literacy. When providers were asked why their teaching staff had not been trained or offered professional development, the common response was that it was due to professional development opportunities not being available. The conclusion of the research is that there is a pressing need for professional learning and development for teachers in formal financial education. If we want to see good quality financial education in this country, we must first train the teachers.

Comments { 0 }