Newsletter: November 2015
The Wealth Academy assists parents, teachers and professionals in the financial services industry to help their children, students and young clients to improve their financial knowledge and skills. We look forward to providing news, research, readings, hints, provocations, and some humour, to help younger generations become financially capable.
PLEASE SHARE THIS NEWSLETTER ACROSS YOUR NETWORKS.
It is the end of another school year, with many students already on holidays.
For teachers it is an important to time to reflect on the achievements of the year, and to refresh and recharge batteries.
For those in the financial services industry it is also a time of reflection. For many who have joined with The Wealth Academy to support the financial education of youth in their community... thank you. You are making a difference that will improve their future.
For those of us committed to financial education it is important to reflect on how we have helped students in our schools and the children of clients. Hopefully students in your school or the children of your clients do not think and act as if money grows on trees. If they do, then we must do more to teach them about the realities of their future financial life.
We wish everyone a happy holiday during this vacation period. It is a period that provides significant opportunity to be reminding our youth of the difference between needs and wants, financial management, budgeting and supporting others in need. Take care. (Next enewsletter is January 2016)
It has been pleasing to see the support of universities towards the school-community financial life skills resource pack. The Queensland University of Technology is sponsoring our school-community resource pack in up to 25 schools in the northern suburbs of Brisbane. What a wonderful contribution to make to a community.
We look forward to partnering with other universities around Australia in the near future.
The Wealth Academy was the industry partner with the Queensland University of Technology School of Business (Accountancy) in a 2015 research project which examined the financial literacy of first year tertiary students. Specifically, the project assessed their perception of the financial life skills programs they might have received in secondary school
and a range of contextual factors that may influence their financial capacity. A media release and the initial report High-school financial life skills report for educators
, is now available on our web site. Please contact us if you would like further information
Teachers: Prepare for 2016
Is your school prepared to help all students with their financial education in 2016?
The Wealth Academy's School-Community Financial Life Skills program is NOT
an extra program for a school. It is a set of resources that integrate with existing school programs, including:
- business studies
- economics and commerce subjects
- legal studies
- literacy and numeracy programs
- certificates in financial services and business
- vocational education
- pastoral care and life skill programs
- career programs.
Accessing this set of unique resources is like accessing new sporting equipment for students to use across a variety of sports, or accessing new resources to place in a school library that can be used by the school community. While some schools may use these resources to create new programs for students, most schools will use these resources in their current school programs.
With our partners and local school sponsors, we want to help students to be better prepared for their financial future. Collectively, we want to support schools who value financial education for their students.
Find out more on the website
Teenfinca® Issue 2
The second edition of Teenfinca® has been distributed to subscribed schools. One of the articles focuses on trust. This is an important concept within financial services.
Trust is also a concept that we teach in school when we talk about road safety, personal safety, sport safety and so on. Trust should also be taught in terms of financial safety.
If you have a business sponsor for your financial life skills program, students should talk with the sponsor about trust in financial services. Every student will have to make financial decisions in the future based on trust, so it is important to talk about this while students are still at school. Consider:
- when is trust given and why
- who is given trust and why
- how is trust demonstrated
- why is trust an important consideration in financial services.
If you have topic ideas for the next issue of Teenfinca® please contact us
Head burying regarding personal finance
A recent Huffington Post article Finance Tips for 20s, 50s and beyond
stated that Australians are said to have a not-so-hidden talent at ‘head burying’ when it comes to being savvy in the world of personal finance
Teachers: An open invitation
The Wealth Academy values partnerships and relationships that will ultimately help young people become more financially capable.
Teachers can support this cause by:
- contacting us with ideas to improve their financial education program (What do you need?)
- contributing resources or articles for us to consider for publication
- participating in our research program.
We want to help, as do our partners. Help us to help you.
Register your school here
Need help registering. Contact us
Does your school need a school financial education sponsor? We can help.
Find out more about sponsorship on the home page
Please share this newsletter with fellow parents, teachers and financial service professionals committed to the financial education of Australian youth. Financial capability does not happen by accident or by default—it requires effort. A united effort will bring greater benefits.
Yours in learning
Ken Swan, Director The Wealth Academy
Help your network: We are proud to consider ourselves lifelong learners, so please send us information, ideas and comments that you think we should share with our network. All inquiries and submissions for publication should be directed to the Manager using the contact options on our website www.thewealthacademy.com.au .
Information provided is for educational purposes and does not constitute financial advice. You should obtain independent advice from an Australian financial services licensee before making any financial decisions. Although The Wealth Academy (TWA) has made every effort to ensure the accuracy of the information as at the date of publication, TWA does not give any warranty or representation as to accuracy, reliability or completeness of the information. To the extent permitted by law, TWA and its employees, officers and contractors shall not be liable for any loss or damage arising in any way (including by way of negligence) from or in connection with any information provided or omitted or from any one acting or refraining to act in reliance on this information.