Teaching Financial Capability in NZ schools

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The personal financial management unit standards have been reviewed and are now found under Financial Capability.
Read the review here


What's happening in NZ Schools around Financial Capability ?


To find out I attended Sarah's workshop at the BOPMA conference day: 

At Sarah's school they have trades & services academies however there was still a group of students who were not well catered for.  
Introducing.....


Maths for Life, a Level 2 course is based on the Financial Capability standards.

Maths for Life students completed the following standards from the framework to credential their learning

US 28094 – produce a balanced budget
US 28092 – analyse states of personal financial income
US 24695 – taxation
US 28093 - describe financial responsibilities of utilising tertiary study funding option
US 28097 Banking ( didn’t get to this)
US 24699 – smart goals
US 28095 - investment
US 28096 – insurance

there were 17 students in the class and they worked pretty much at their own pace throughout the year.

The Services Academy used Instant resources which are "amazing but way too wordy for my students"


Sarah turned to the Young Enterprise Scheme resources for her Maths for Life students.
The Workbooks and Hot Topics became the core resources



Benefits
  1. Students were  engaged for longer learning important life skills– budgeting, tax, funding tertiary study
  2. All the standards open book so students could work at their own pace - this was particularly important as many of her students were out of school on a regular basis completing trades and gateway course
  3. Students gained 12 credits towards their Level 2 qualification. 


What did the students say?
Topics were relevant
Skills will be useful- they are life skills
100% recommend course to others 




Going forward:
Level 3 is in the in the planning
28098 – evaluate options to increase personal income
28100 – develop a plan to achieve a long term personal financial goala
28104 – analyse impacts of external factors on personal finances
28102 – demonstrate understanding of risk and return for a personal investment portfolio
28101 – create a long term investment portfolio 



What is out there to help ?

NZQA Assessment support material: http://www.nzqa.govt.nz/providers-partners/assessment-and-moderation/assessment-of-standards/assessment-support-material/financial-capabilty-assessment-support-material/

YES: http://youngenterprise.org.nz/

Westpac – offer a financial programme which they run in schools, contact Julia Jackson to organise something in your school
https://www.westpac.co.nz/managing-your-money/youth/

BNZ – Tauranga Girls College students visited a BNZ branch organised through an education officer based in Auckland. 
https://www.bnz.co.nz/about-us/sustainability/supporting-our-communities

Bamzonia – pre-prepared resources - have a cost associated
http://bamzonia.co.nz/wp-content/uploads/2014/10/NZC_and-NZQA_Lessons_Spreadsheet_October_2014.pdf

http://bamzonia.co.nz/wp-content/uploads/2015/01/Summaries_Levels1-3_Lessons1-3511.pdf

 Instant Education: prepared resources - have a cost associated
http://www.instant.org.nz/ 

NXZ Virtual share trading https://virtualtrading.nzx.com/ 



 NZ Teachers have started a closed group on Facebook to ask questions share ideas and resources for teaching these standards

Search Teaching personal financial management in NZ on Facebook and ask to join. If you are not a registered NZ teacher message admin and request access. Alternatively share your thoughts via the comments below.

STAR funding may be available for this course as Financial Capability falls under Core Generic standards.




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