Fi­nan­cial ed­u­ca­tion gets a boost

Kapi-Mana News - - OPINION/NEWS -

Porirua ter­tiary students are to re­ceive a help­ing hand to man­age their money thanks to a part­ner­ship be­tween Visa and Whi­tireia Polytech­nic.

The part­ner­ship will see Visa fund a pi­lot pro­gramme of up to 15 tu­tors from Whi­tireia to at­tend an ad­vanced course that will de­velop the con­tent and skills they need to de­liver fi­nan­cial ed­u­ca­tion. The course aims to im­prove the fi­nan­cial plan­ning and man­age­ment ad­vice de­liv­ered to students.

The idea for the pro­gramme stems from a joint re­search project be­tween the Com­mis­sion for Fi­nan­cial Lit­er­acy and Re­tire- ment In­come and Visa that looked at ways to in­crease the qual­ity of for­mal fi­nan­cial ed­u­ca­tion.

Re­tire­ment Com­mis­sioner Diana Crossan says the pi­lot pro­gramme is the first of its kind in New Zealand and if suc­cess­ful she hopes it can be repli­cated by other ter­tiary ed­u­ca­tion providers.

‘‘ We know that the ear­lier young peo­ple be­come fi­nan­cially lit­er­ate the bet­ter it is for their fi­nan­cial well­be­ing throughout life. For many peo­ple ter­tiary study of­fers them their first taste of fi­nan­cial in­de­pen­dence.

‘‘ They face de­ci­sions about stu­dent loans, flat­ting and part time jobs and it’s vi­tal that they have the knowl­edge to make good fi­nan­cial de­ci­sions that will set them up for their adult life.

‘‘We need to make sure that those who are teach­ing fi­nan­cial lit­er­acy have the skill and knowl­edge re­quired to give their students the tools they need.’’

Whi­tireia New Zealand chief ex­ec­u­tive Don Camp­bell says they hope the pro­gramme will be far reach­ing, im­prov­ing not just the fi­nan­cial lit­er­acy of students but also their fam­i­lies, help­ing them make good choices about their spend­ing now and in the fu­ture.

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