The Government has announced Year 1-10 students will be taught financial literacy from next year.
It hopes the new curriculum will help Kiwi kids become “savvy consumers”, learn investment and finance skills, and help learn how to spot a scam.
Education Minister Erica Stanford announced the policy today, saying it would better prepare students to make “informed financial decisions in a complex financial world”.
This would positively impact their lives and the broader economy, she said.
Younger students will learn key financial skills such as identifying need vs want, having a bank account, earning, spending and saving.
Older students would learn topics such as budgeting, investment, interest, taxes and insurance.
Commerce and Consumer Affairs Minister Scott Simpson says strengthening financial education is crucial to the Government’s focus on economic growth. Photo / Hagen Hopkins
The Government says new tools and resources, created in collaboration with financial organisations, banks and charitable trusts, will be available for schools to aid in implementing the new curriculum.
A new partnership between the Ministry of Education and the Retirement Commission would map the offerings from financial education providers against the updated curriculum, Stanford said.
The commission’s work with providers would ensure consistent “curriculum-aligned supports and resources”, giving schools confidence in their delivery.
Commerce and Consumer Affairs Minister Scott Simpson, as the minister responsible for the Retirement Commission, said: “I absolutely believe that strengthening financial education is crucial to our Government’s focus on economic growth.
“We are all consumers, and financial literacy can set young Kiwis up to be savvy consumers – whether it’s knowing how to invest wisely, choose the best loan at a bank, or even identify a scam.”
Stanford said New Zealand parents had long been calling for financial education to be a priority.
“This curriculum update answers those calls, ensuring students are equipped with the knowledge to thrive in both personal and financial aspects of their lives,” she said.
“This initiative marks a significant step forward in New Zealand’s education system, placing a strong emphasis on real-world skills that will empower students to take control of their financial futures.”
