""Along with women, young people between the ages of 12 and 24 are the most financially illiterate demographic," Financial Basics Foundation chief executive Katrina Samios said."
""Forty years ago, sex education moved from taboo to essential," he said. "Financial literacy deserves the same whole-of-society focus.""
""I know how lost I felt," Ms Kennedy said. "I ended up with very unexpected bills. "I found myself wondering, 'how am I going to pay for this bill?' because I didn't budget for it, and I didn't know how to budget either, so I was navigating a lot.""
Calls are increasing to make financial literacy a mandatory school subject because buy-now-pay-later schemes, scams, and social media marketing encourage spending over saving. Many students leave school without basic knowledge of tax, superannuation, and budgeting. Women and people aged 12–24 are identified as particularly financially illiterate. Policymakers compare the needed cultural shift to the normalization of sex education as an essential subject. Rising living costs, gig-economy work, and a cashless society require young people to understand simple bank products and digital payments. Some individuals are teaching students practical topics like tax, superannuation, renting, and budgeting after personal experience with unexpected bills.
Read at Abc
Unable to calculate read time
Collection
[
|
...
]