Ecstra Foundation's "Talk Money" financial literacy workshops are taking place at Stockton Public School next week – 11 October 2023 - helping students learn valuable money lessons for life, gain confidence in discussing money matters, and make informed financial decisions.
Talk Money was launched in 2022 to provide financial education in schools across Australia. The in-class workshops teach foundational money lessons for life, are interactive to encourage students to ask questions, discuss what they are learning and take those lessons home to share.
The program is offered free to all Australian schools for years 5-10 and the workshops and resources are evidence-based and aligned to the Australian Curriculum and the National Consumer and Financial Literacy Framework.
The program is tailored to different year groups with each module focusing on different topics: Talking about money (Year 5 and 6 students); Spending and saving money (Year 7 and 8 students); and Making money work (Year 9 and 10 students).
Dr Tracey West, Education Manager at Ecstra, says the feedback from students who have taken part, as well as teachers and parents, has been extremely positive.
"Teaching the basics of finance should begin early. For primary school students, our workshops help teach money-related skills including understanding the importance of saving, various saving methods, and achieving savings goals.
"For older high school students, our focus shifts to practical subjects. This involves interpreting pay statements, and understanding taxation, pension plans, and employment rights as they enter the workforce. These are essential life skills that contribute to future success in their careers.
"Feedback from participants in the Talk Money program has shown they now feel more self-assured when discussing financial topics. This encompasses managing difficult conversations with employers regarding their rights."
Dr West added that teacher support and feedback have been instrumental in ensuring the program's effectiveness and rapid expansion into a range of schools.
In total, 91 per cent of teachers report improved financial knowledge among students after participating in the workshops, and 100 per cent of teachers say the workshops are relevant to their students’ lives. 69 per cent of teachers also said their confidence in teaching money management improved due to participating in the workshop.
"Schools and other educational institutions play a vital role in teaching tangible money management abilities. However, they require resources, tools, and immersive learning experiences to effectively deliver this education.
"People’s physical, mental, and social wellbeing are closely connected with their financial wellbeing. However, we won’t see substantive progress in financial literacy if the current gap in financial education isn’t recognised and addressed," Dr West says.
In 2022, the Talk Money program reached 105,972 student bookings across 3,096 workshops in 527 schools, with a presence in all Australian states and territories. A significant proportion of schools in lower socio-economic areas (29%) and regional and rural locations (21%) benefited from the program. Talk Money bookings are on track to double in 2023, an outstanding result for a new program.
