Latest NewsFinancial Assessment Results Are In 
MEDIA RELEASE -
9 March, 2009Australian Primary School students show it’s not all doom and gloom - they understand how to save money Upper primary school students around Australia understand the importance of saving but struggle with simple maths such as calculating change from a purchase. These were two of the key findings from a new online Financial Skills Assessment used to assess the financial literacy of 4,660 students from more than 100 schools nationwide. The results of the assessment show that over 90% of upper primary school students understood the importance of saving and were able to identify; why people save, how to reduce spending to increase savings, and savings strategies. Also, 88% of students understand the importance of security when it comes to pin numbers for ATMs and for internet banking. On the downside, the Financial Skills Assessment showed 82% of students experienced difficulty converting simple maths calculations into concepts involving money. Examples include calculating change, calculating an account balance and calculating mobile phone charges. Click here to view the complete Media Release.
Congratulations to Greenhills Primary School in Greensborough Victoria, winners of the 80cm digital LCD television. Schools who participated in the Financial Skills Assessment online before the end of November were entered into a free raffle to win the LCD TV. In early December, Brian Elliott, Manager, Curriculum Directorate, NSW Department of Education and Training drew the winning ticket in the 80cm LCD TV raffle.
Alan Fairweather, Principal, Greenhills Primary School.  MakingCents makes Big News
The MakingCents program in primary schools was featured as a tool for teachers and parents on Channel Ten News. Designed by NSW Department of Education and Training, MakingCents aims to increase children’s knowledge and skills in understanding and managing money. Gayle Osborne, Head of Community Programs and Services at the YWCA NSW attended Campsie Public Primary School where a primary class was using the MakingCents program. "It's wonderful to see the children so actively engaged in their learning." The students and their teacher were featured in the Channel Ten News item. Check out money skills online When, or if, your child is in upper primary their teacher will now have access to an online Financial Skills Assessment. It is possible your child’s teachers haven’t heard about it yet so please let them know. They can access it by clicking here. The high number of downloads for the online Financial Skills Assessment demonstrates that MakingCents has hit the mark with the research, development and timely launch of its online tool for upper primary teachers. Supported by Citi and developed by the YWCA NSW in conjunction with the NSW Department of Education and Training the Financial Skills Assessment allows teachers to assess each student’s strengths and areas for development. The Financial Skills Assessment will help teachers to gain an understanding of students’ financial literacy against levels consistent with the national financial literacy framework, but more importantly, it will help to ascertain whether students understand basic money concepts. The Australian Government is keeping the spotlight on financial literacy, not only through the National Framework but with its launch of the Consumer and Financial Literacy Professional Learning Program for teachers. The Financial Skills Assessment will be of interest as it develops. Watch this space! Show me the money! Australian studies of the characteristics of generations ‘Y’ (born after 1980) and ‘Z’ (6-13 year olds) show that young people are living in a multi-tasking, media-saturated society and make many choices for themselves, from the clothes they wear to the mobile phone they use. One teacher reported “This young boy thought there was an endless supply of cash at the ATM for his mum and dad. He couldn’t understand why we needed to give money to the needy in places like Africa. He thought the people in Africa should just go to the ATM.” Talking to your children about money and using everyday experiences is a great way to help them develop a healthy attitude towards personal finance. Studies show that children do learn about money from their family, so it’s important to give them the right information in a form they can understand. Planning, saving and keeping track are some of the ways to develop good money habits. The MakingCents program helps your child to do this and you are a major influence in your child’s learning about money. Learn together! Many parents have found the MakingCents program useful for their own learning about managing money. From pocket money to budgeting see our tips for parents. Makeover for MakingCents 2009 will see the production of a termly eNewsletter for parents, a makeover for the website and updated activities and resources for teachers and parents. The website will remain the key resource for schools in 2009. As schools move progressively into a digital learning environment, interactive whiteboards are being widely adopted in primary and secondary classrooms. This development has recently been supported by a commitment from the Australian Government to provide new learning technologies in schools www.digitaleducationrevolution.gov.au. MakingCents will be developing interactive elements to its program for 2009 and beyond to enhance engagement and learning for all children. |
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