Purchasing a mobile phone is one of the first mature financial commitments a young person will make. Before reaching that stage, however, most will have had experience with online shopping, including in-app purchases which are often impulse buys with minimal prior thought. Financial literacy instruction that begins in primary school and gradually builds over time will equip students with the skills to confidently manage these transactions.
As one of the key initiatives of the National Financial Literacy Strategy. the Australian Securities and Investment Commission (ASIC) has developed the MoneySmart Teaching program, a comprehensive financial literacy resource for use by educators.
This is an impressive resource with units such Mobile Phone security designed for a 15 minutes time-slot making it ideal for teaching alongside other content or within a homeroom class. On the other hand is the more comprehensive financial training course for VET students consisting of 5 online units.
MoneySmart has been developed for the Australian community. It’s valuable, not only to teens and young adults, but as a resource for Australians of all ages. It’s worth checking out.