Dimensions of financial education

The frameworks include similar dimensions of financial education. These are financial knowledge and understanding; financial skills and competence and attitudes and/or values. The Scottish, Australian, Japanese and South African frameworks also include enterprise as a dimension of financial education.

In their attitudes and values dimension, the Australian, New Zealand, Malaysian, South African, Scottish and Northern Ireland frameworks include recognition of the wider community and/or the environment. For example, the Malaysian framework includes the dimension of financial responsibility to enable children to appreciate how financial decisions can impact on an individual, their family and the community. The Dutch framework focuses also on social financial competences such as sustainable investments, and the Brazilian one encompasses the economy and the financial systems/banks.

In the English 2008 and Jump$tart frameworks, the attitudes and values are more limited in scope and focus only on personal responsibility without referring to the wider impact of personal financial behaviours.

The dimensions of the Japanese framework are focused on the development of financial understanding at an individual level and include consumer rights and careers education.

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