Financial literacy learning is supported in schools through the Australian Curriculum. Learning about money can start as early as preschool.

How schools support financial literacy

Teachers may use class discussions in all learning areas to talk about real world consumer and financial problems to challenge student thinking, for example, scams.

The Australian Curriculum and financial literacy

Reception to year 10 students learn about financial literacy in the Australian Curriculum through:

• mathematics: students investigate, represent and interpret situations in their personal and work lives, think critically and make choices as active, engaged, numerate citizens. For example
  • primary students learn estimation and rounding strategies to check the accuracy of financial transactions
  • secondary students use mathematical modelling to solve practical problems involving ratios and rates in financial contexts
• humanities and social sciences (HASS): students learn to problem solve critically and creatively, make informed decisions, be responsible and active citizens, make informed economic and financial choices, and reflect on ethics. For example
  • primary students understand what influences consumer choices and develop strategies to make informed decisions
  • secondary students can evaluate a response to an economic and business issue using cost-benefit analysis or criteria to decide on a course of action
• digital technologies: students are supported to make informed and ethical decisions about the role, impact and use of technologies in their lives; they learn to responsibly select and manipulate appropriate technologies (for example, apps) when designing and creating solutions
• the understanding money numeracy general capability strand: students learn:
  • to identify situations involving money, carry out calculations and solve problems with cash
  • about GST, income tax, interest on loans, currency conversion, discounts, profit and loss and credit card debt.

Moneysmart in schools

The Australian Government’s MoneySmart website provides teachers with the tools and strategies to teach consumer and financial literacy.

Interactive activities

Schools may use interactive activities such as school fetes or charity fundraising to involve students in real world consumer and financial problem solving. These activities provide students with opportunities to:

• plan a budget
• make financial decisions
• handle small amounts of money
• see how consumer behaviour can benefit themselves and others.

Speak to your child’s school about other activities and opportunities they may offer to support financial literacy learning at school, including information sessions for parents and carers.

How preschools support financial literacy

Preschool children may count out loud, sort, order and categorise money and point out patterns in a collection. This begins the process of understanding how symbols and patterns work and how money is part of their social world.

Teachers in South Australian government preschools design their learning program using Belonging, Being & Becoming: The Early Years Learning Framework for Australia.