The money lessons replacing Dollarmite in Aussie classrooms

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Ecstra Foundation has launched a financial education program for schools, to help Australian students learn key money lessons early on.

Ecstra's Talk Money program is available for students from Years Five to 10, offering classroom workshops delivered by trained facilitators in person or via live virtual sessions.

Talk Money covers financial concepts including talking about money at home and with friends, saving goals, spending, credit, debt, the digitalisation of money, and payment options. Older students will learn about navigating the workplace, earning, tax, superannuation and building towards financial independence.

ecstra kids financial literacy program replacing dollarmite in classrooms

The program is provided at no cost to schools or parents or carers.

Ecstra is fully funding the program as part of its work with government, community organisations, educators, and industry under the federal government's National Financial Capability Strategy.

Commenting on the initiative, Ecstra chief executive Caroline Stewart said that Talk Money is designed to help Australian school students learn money lessons for life.

"It provides them with the tools to be confident talking about money and to make informed financial decisions, through an engaging and interactive learning experience," she says.

A recent survey commissioned by Ecstra of 2049 Australians conducted over December 2021 to January 2022 found that more than half of teachers have not taught financial education at school.

The survey also reported that students would like to learn more about how to save money and plan for the future, however 41% indicated they have low levels of knowledge about money and finance.

"Young people face increasingly complex financial choices and decisions through their school years and beyond," Stewart said.

"The survey results reinforce that young people want to learn more about a range of financial topics, and that home and school are both important environments to engage young people in money conversations."

This article first appeared on Financial Standard

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Chloe Walker is a journalist at Financial Standard. She has a Bachelor's degree in journalism from QUT.

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