Nick Thomson

As we approach the start of a new school year it’s encouraging to see a Sunday StarTimes series focusing on the need for our young people to receive financial education.

The Commission for Financial Capability’s Sorted in Schools programme attempts to address that need.

Our research shows the age group from 16 to 24 is a danger period when it comes to falling into debt that can hold young people back, often through a lack of understanding of what they’re getting into through easy credit.

With access to cellphone plans, online shopping, gaming, credit cards, loans for cars and even loans from loan sharks, our young people are more at risk of incurring bad debt than any previous generation.

Sorted in

Schools aims to mitigate that risk by giving them a clear understanding of the implications of their financial choices and equipping them with knowledge and tools to help them make good decisions from the start of their financial journey.

We’re well into a four-year development and roll-out programme, having provided learning packages for students in years 9-10 and on track to deliver packages for those in years 11-13 from Term 2.

Lessons cover money management, saving, debt, goal-setting, KiwiSaver, retirement, insurance and investing. The material can even help senior students gain credits toward NCEA.

We’re also providing packages in te reo for teaching in kura. Called Te whai hua – kia ora, this unique programme has been designed to reflect the Te Ao principles of Ma¯ ori education, which take a more holistic approach to enhance wha¯ nau and community wellbeing.

Sorted in Schools is the first

Sorted in Schools can be taught as part of day-to-day classes in subjects as diverse as maths, social studies, technology, English and even health. But there’s a catch. It’s optional.

Nick Thomson is the director of learning at the Commission for Financial Capability.