National Consumer and Financial Literacy Framework

Helping young people be MoneySmart,
Teacher Workshop 1: Introduction to consumer and financial
literacy education in Australia
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The Australian Curriculum
and Consumer and Financial Literacy
• Implementing the Australian Curriculum using a
consumer and financial literacy context
• A whole-school curriculum development and teacher
professional learning package
• By teachers, for teachers!
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Teacher Workshop 1
Introduction to consumer and financial literacy
education in Australia
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What do the experts think?
Paul Clitheroe
Chairman, Australian Government Financial Literacy Board
and Financial Commentator
Paul’s video can be found here:
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The MoneySmart Teaching Package for:
Primary Teachers
Integrated: Foundation to
Year 2, including a big book,
and Years 3–6)
Mathematics: Years 4–6)
Units of Work
Whole School Case
Including four workshops for
teachers and one workshop
for parents/carers
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The MoneySmart Units of Work
Foundation to Year 6
Have Australian Curriculum content descriptions
Link to the National Consumer and Financial Literacy
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The MoneySmart Units of Work
Can be adapted to your local context
Allow for the formation of a bank of units of work and
can be added to your school’s curriculum map
Provide an explicit whole-school approach
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Online Support @
Professional learning modules
for primary and secondary
A range of digital and other
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How important is money in our lives?
Activity 1: A personal money timeline
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Needs and wants — what are they?
Activity 2: The needs and wants sort-out!
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The push and pull of needs and wants
Activity 3: A tug o’ war
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How do I feel about money?
Activity 4: An Oxford debate
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What can we do with money?
What is missing?
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National and International Impetus!
ASIC’s involvement
National Financial Literacy Strategy
National Consumer and Financial Literacy
• MoneySmart Teaching
• National MoneySmart Week — September
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Who are consumer and financially
literate people?
Individuals who are consumer and financially literate
have the ability to apply knowledge, understandings,
skills and values in consumer and financial contexts
to make informed and effective decisions that have a
positive impact on themselves, their families, the
broader community and the environment.
Source: National Consumer and Financial Literacy Framework, Ministerial Council for Education, Early
Childhood Development and Youth Affairs (MCEECDYA), 2011
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The National Consumer and
Financial Literacy Framework
Knowledge and
understanding — money
and consumer decisions
Competence — applying
Responsibility and
enterprise — making
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The MoneySmart Brand
Consumer website:
• MoneySmart Teaching
• MoneySmart Teaching
…Kids (primary)
…Students (secondary)
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Becoming a MoneySmart School
• Benefits:
a point of difference
MoneySmart Kids/MoneySmart Teachers
motivated and engaged learners
engage with QA assured prepared units of work aligned to
the Australian Curriculum
– opportunity and process provided to engage in whole-school
curriculum renewal
– SuperClubs Plus license
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Becoming a MoneySmart School
• Requirements
set up school management team
develop MoneySmart School implementation plan
complete four teacher workshops and parent/carer workshop
undertake whole-school audit of financial literacy activities
teach at least one unit of work per year level
present a report on its implementation to school community
add financial literacy to school curriculum map and unit bank
each year level to teach at least one MoneySmart unit of work
per year after this work is finished
– contact us at the MoneySmart Teaching website to receive the
window ‘decal’ identifying you as a MoneySmart School
© ASIC 2012
The MoneySmart School
Learning Journey
Overview of the 5 workshops
Including one for Parents/Carers
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So is this another learning area?
Makes Australian Curriculum
subjects come alive in real-life
Consumer and financial literacy
is a cross-curriculum focus
English: Advertising, contracts, guarantees
Science: Environmental and sustainability
Mathematics: Financial literacy sub-strand
Motivates and engages
Connects learners and their
learning to the community
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On closing, MoneySmart Teaching:
Brings the curriculum alive
Meets Australian Curriculum responsibilities
Focuses on the education of young Australians
Creates the opportunity for a whole-school approach
• ‘To the Max!’ video
• Date for Teacher Workshop 2
© ASIC 2012