Financial education learning framework in New Zealand (see also Appendix 3.A4)
History of the development of the framework
Financial education in schools forms part of the National Strategy on Financial Literacy that the Commission for Financial Literacy and Retirement Income implements in New Zealand. A draft framework for financial education was developed by the Commission and responsibility for the promotion and development of financial education in schools was then transferred to the Ministry of Education in July 2009 and finalised7.
The framework initially developed by the Commission provided “possible progressions of learning”8. These are presented as learning outcomes for curriculum levels 1 to 5 across two strands:
- 1. Managing money and income
- 2. Setting goals and planning ahead
A revised and updated version of the progressions of learning is reproduced in Appendix 3.4.
Topics/issues covered and goals
Topics covered are referred to as “themes” for each of the two strands.
Managing money and income:
- • Money.
- • Income.
- • Saving.
- • Spending and budgeting.
- • Credit.
Setting goals and planning ahead:
- • Setting financial goals.
- • Identifying and managing risk.