Australian students will learn more about money with the help of digital educational activities released by ASIC this month.

ASIC’s digital activities will help teachers use the latest technology to teach students from Foundation to Year 5 about the financial principles of planning, saving, spending, donating and investing wisely. The resources are part of ASIC’s MoneySmart Teaching program – an initiative developed to improve financial literacy in schools.

‘Teaching children about money from an early age is critical to setting up good foundations for the future. Young people benefit from learning experiences which are relevant, engaging and available on demand’, said ASIC Commissioner Peter Kell.

Developed in collaboration with Global Vision Media and Roar Film, ASIC’s digital activities are based on the National Consumer and Financial Literacy Framework and are aligned to the Australian Curriculum.

ASIC’s digital activities support teachers and parents with learning tools which mirror students’ daily lives. Five to 7 year olds learn to identify the difference between ‘needs’ and ‘wants’ by helping the character, ‘Flynn’ get ready for school, while 8 to 10 year olds plan and budget for a day out with their class.

Students will also learn about the basic financial and consumer requirements of a family through ‘MoneySmart Town’ – a game which requires players to manage money successfully to keep their virtual family happy and healthy. MoneySmart Town is designed for students in Years 3-4 and will be hosted on Skooville – a safe social networking site for children through schools.

ASIC’s resources are freely available on its MoneySmart Teaching website and are designed to be used in the classroom and at home.

‘Financial literacy is a partnership between teachers and parents and we encourage families to use these activities at home. Consumer and financial literacy shouldn’t be confined to the classroom. Activities are easy to download and can be used on a range of platforms including computers and iPads’, said Mr Kell.

‘We’ve also developed some practical and easy-to-use notes for parents who are interested in talking to their children about money but unsure how to approach the topic.’

ASIC is also launching MoneySmart Teaching Online – a professional learning program which provides teachers with the knowledge, skills, strategies and teaching materials to teach consumer and financial literacy. The program comprises two modules, one for primary and one for secondary teachers. These modules were developed by ASIC with Janison and feature expert interviews, case studies in schools, and scenarios. Both modules are aligned to the National Professional Standards for Teachers (AITSL).

To access ASIC’s digital activities and online modules or for more information about the MoneySmart Teaching program, visit MoneySmart Teaching website.

Background

ASIC’s digital activities for students are part of the $10 million Helping Our Kids Understand Finances (HOKUF) initiative to improve financial literacy in schools announced by the Australian Government in August 2010.

In 2012, ASIC launched the MoneySmart Teaching Primary and Secondary professional learning packages which include self contained engaging units of work linked to the Australian Curriculum. These resources are currently being trialled in approximately 90 schools nationally. For more details, see ASIC’s previous media releases 12-185MR and 12-300MR.