MenuThe Financial Advice Association of Australia (FAAA) has launched a nationwide financial literacy program aimed at high-school students, developing a simple but informative workshop that will teach young Australians important lessons about money and good financial decision making.
Launching during Global Money Week (GMW), which runs from 18 – 24 March, the one-hour workshops will be delivered by FAAA members face to face in local high schools or community groups. The workshop will help students better grasp financial concepts with the aid of a presentation sharing simple financial concepts like the power of compound interest, setting financial goals and managing credit cards.
Anne Palmer, General Manager, Education and Professionalism, at the FAAA, said the purpose of the workshops is to get high school students thinking about money management. FAAA members will stress the importance of making wise money choices and good financial decisions, which can make a profound difference to the lives of young Australians.
“We have timed the launch of this initiative with Global Money Week after collaborating with a number of dedicated members on the workshop content. It has been designed as an introductory session to all things money,” said Ms Palmer.
“By the end of this session, participants should be able to differentiate between a need and a want, know how to set a savings goal, understand that debt can accumulate quickly and be able to compare credit cards and Buy Now Pay Later options.
“Students will learn how to read a basic pay slip and know that different rates of tax apply to different income levels in Australia. The workshop will also teach young Australians about the importance of investing in superannuation to boost wealth over the long term. These are very important life lessons which the FAAA is encouraging its members to deliver to all young Australians.
“We are grateful to FAAA members Renae Anderson, Amie Baker, Glen Hare, Matthew Kanizay, Peter Lennox, Sandra McGuire and Dawn Thomas for their expertise and insights on the subject matters,” she said.
The Money & Life Financial Literacy Workshops will run for one hour and are aimed at 15 and 16-year-olds. FAAA members interested in delivering the workshop to high school students can request a pack from the FAAA which contains the below resources:
- Letter template to send to high schools
- Pre-workshop checklist
- PowerPoint presentation
- Accompanying leaders guide
- Student handout
The FAAA has also created a suite of social media resources to mark GMW, promoting conversations with young Australians about money.
“Our members have shown strong enthusiasm for launching this project and educating high school students on the importance of wise money management. Many young Australians will be starting their first job and will have their own money in their pockets for the first time.
“Some will naturally be better savers than others, others will be more inclined to spend. This workshop will help to instill in all young people simple ways that they can manage their money effectively, including setting savings goals and managing debt. This will help to empower young Australians to live an easier life, backed by good financial decision making.
“Our members are keen to give back to the community and this is a great way to do that and also bring home the importance of good financial planning,” said Ms Palmer.
The Money & Life Financial Literacy Workshop pack can be requested here.
