No Credit Check :: News
SHARE

Share this news item!

The Importance of Teaching Financial Literacy to Youth

The Importance of Teaching Financial Literacy to Youth

The Importance of Teaching Financial Literacy to Youth?w=400

The information on this website is general in nature and does not take into account your objectives, financial situation, or needs. Consider seeking personal advice from a licensed adviser before acting on any information.

During a recent outreach program at Penrhos College, Wealth Designers senior financial adviser Dawn Thomas asked a group of Year 9 students about the cohort with the least amount of superannuation.
To their surprise, the answer was not what they expected.

"Being kids, they threw out the most imaginative answer, which I've never heard before," Thomas tells Professional Planner. "They said babies."

While technically not incorrect, the correct answer is women.

"I explained that women retire with half the amount of superannuation that men do," Thomas says. "They were shocked and I asked them if they thought that was fair. They replied with a resounding 'No!'"

This presentation by Thomas and Horizon Group of Companies financial advisers Remo Venditti is part of a program aimed at teaching high school students about budgeting, financial goals, compounding, investing, and superannuation.

Addressing the Financial Literacy Gap

The Financial Advisers Association of Australia (FAAA) recognizes the importance of educating young people about financial literacy, according to FAAA general manager Anne Palmer.

"Teaching financial literacy to young people is incredibly important," says Palmer. "It sets them up for success in the future, not just financially but in every aspect of life. The foundation of any financial plan is understanding cash flow and budgeting."

Thomas agrees, emphasizing that even children can benefit from understanding their cash flow and budget. Starting the practice of saving for things instead of relying on debt at an early age is key.

"If they understand the benefits of long-term investing, it's really the world's their oyster," Thomas says. "Young people right now can give themselves a good start by equipping themselves with the tools to save and invest wisely."

The Talk Money Program

In response to the decline in youth financial literacy, Ecstra launched the Talk Money program in 2022, aimed at teaching children about financial literacy. Since its inception, the program has reached over 230,000 students through workshops conducted in schools across Australia.

Roadshows make up 17% of Talk Money bookings, allowing for concentrated time in regional areas across the country. While online workshops are available, the organization prefers face-to-face interactions for better student engagement.

About 24% of bookings in 2023 were repeat bookings, indicating the value that schools see in financial literacy education. External facilitators like Ecstra provide teachers with the confidence to have conversations about money in the classroom.

Ecstra is actively reviewing and improving the Talk Money program based on feedback received from schools and students, showing their commitment to evolving and meeting the needs of young learners.

Emphasizing Financial Literacy as a Life Skill

Anne Palmer and Tracey West, manager of the Ecstra Foundation, both believe that teaching financial literacy is a crucial life skill.

"It's one of the most important subjects young people will ever learn," says Palmer. "It sets them up for success not just financially, but also in all aspects of life."

West adds, "Financial literacy is a key skill that empowers individuals to make informed decisions about their finances and future."

By teaching young people about budgeting, saving, and investing, we equip them with the knowledge and tools to build a more secure and prosperous future.

Published:Friday, 17th Nov 2023
Source: Paige Estritori

Please Note: If this information affects you, seek advice from a licensed professional.

Share this news item:

Finance News

Commonwealth Bank Raises Alarm Over Surging Home Loan Demand
Commonwealth Bank Raises Alarm Over Surging Home Loan Demand
22 Nov 2025: Paige Estritori
The Commonwealth Bank of Australia (CBA), the nation's largest lender, has expressed concerns about the current surge in home loan demand, suggesting it may be contributing to escalating property prices and potential financial instability. CEO Matt Comyn emphasized that while the bank benefits from increased housing credit, a more moderate growth rate would better support long-term financial stability and housing market accessibility. - read more
Westpac's RAMS Financial Group Penalized for Home Loan Misconduct
Westpac's RAMS Financial Group Penalized for Home Loan Misconduct
22 Nov 2025: Paige Estritori
RAMS Financial Group, a subsidiary of Westpac Banking Corporation, has been fined A$20 million by Australia's Federal Court for serious misconduct in its home loan practices between June 2019 and April 2023. The Australian Securities and Investments Commission (ASIC) initiated the lawsuit, citing issues such as the use of falsified payslips to approve loans, engagement with unlicensed mortgage referrers, and inadequate oversight mechanisms. - read more
Australia's Major Banks Reducing Dependence on Mortgage Brokers
Australia's Major Banks Reducing Dependence on Mortgage Brokers
22 Nov 2025: Paige Estritori
Australia's 'Big Four' banks-Commonwealth Bank of Australia (CBA), Westpac, National Australia Bank (NAB), and ANZ-are strategically reducing their reliance on mortgage brokers in response to squeezed profit margins resulting from lower interest rates, rising operational costs, and intense market competition. Currently, mortgage brokers account for approximately 80% of new home loans in Australia, a significant increase from 50% six years ago. However, banks are now focusing on more profitable, in-house mortgage origination channels. - read more
Japanese Banks Drive Growth in Australian Business Lending
Japanese Banks Drive Growth in Australian Business Lending
14 Nov 2025: Paige Estritori
In July 2025, Japanese banking giants Sumitomo Mitsui Banking Corporation (SMBC) and Mitsubishi UFJ Financial Group (MUFG) emerged as significant growth drivers in Australia's business lending sector. SMBC recorded a 4.66% increase in their business loan book, adding A$1.19 billion, while MUFG achieved a 3.63% expansion, contributing an additional A$0.62 billion. - read more
AFIA Unveils New Code to Elevate Non-Bank Lending Standards
AFIA Unveils New Code to Elevate Non-Bank Lending Standards
06 Nov 2025: Paige Estritori
The Australian Finance Industry Association (AFIA) has recently introduced its Finance Industry Code of Practice, marking a significant advancement in the non-bank lending and specialist banking sectors. This pioneering initiative aims to establish a new standard for integrity, transparency, and fairness within the industry. - read more
Australia's Housing Boom: A Golden Opportunity for Mortgage Brokers
Australia's Housing Boom: A Golden Opportunity for Mortgage Brokers
06 Nov 2025: Paige Estritori
Australia is currently experiencing a housing 'super cycle,' characterised by a substantial increase in demand for new homes. This surge is driven by a chronic undersupply of housing, demographic shifts, and evolving lifestyle preferences. For mortgage brokers, this trend presents a unique opportunity to expand their client base and services. Find out now if you qualify and compare rates, offers and options from multiple lenders - without a credit check! - read more
Moneytech and Xero Collaboration Simplifies Financing for Australian SMEs
Moneytech and Xero Collaboration Simplifies Financing for Australian SMEs
06 Nov 2025: Paige Estritori
Australian non-bank lender Moneytech has announced a strategic integration with Xero, the global small business accounting platform. This partnership aims to provide small and medium-sized enterprises (SMEs) with a more efficient and streamlined process for accessing working capital. - read more
RBA Weighs Additional Rate Cuts in Response to Economic Indicators
RBA Weighs Additional Rate Cuts in Response to Economic Indicators
29 Oct 2025: Paige Estritori
The Reserve Bank of Australia (RBA) is currently assessing whether further reductions in interest rates are necessary, following recent economic data indicating increased consumer spending and persistent inflation in certain sectors. This evaluation comes after the RBA's decision to hold the cash rate steady at 3.60% in September, subsequent to three cuts earlier in the year. - read more
Federal Court Halts Cigno Australia's Unlicensed Lending Operations
Federal Court Halts Cigno Australia's Unlicensed Lending Operations
29 Oct 2025: Paige Estritori
The Federal Court of Australia has issued permanent injunctions against Cigno Australia Pty Ltd and BSF Solutions Pty Ltd, preventing them from engaging in unlicensed credit activities and charging prohibited fees. This ruling follows findings that, between July 2022 and October 2023, the companies provided loans totaling $34 million to over 100,000 consumers, while charging fees exceeding $70 million, all without holding an Australian Credit Licence. - read more
Investment Boom in Battery Storage as Australia Accelerates Renewable Energy Goals
Investment Boom in Battery Storage as Australia Accelerates Renewable Energy Goals
29 Oct 2025: Paige Estritori
Australia is experiencing a surge in investments in Battery Energy Storage Systems (BESS) as the nation aggressively pursues its goal of achieving 82% renewable energy by 2030. This transition, driven by rapid expansion of solar and wind infrastructure and the closure of coal plants, has created a growing demand for flexible energy storage solutions. - read more


Finance Articles

Understanding No-Credit-Check Loans: A Lifeline for Managing Financial Stress Wisely
Understanding No-Credit-Check Loans: A Lifeline for Managing Financial Stress Wisely
Financial stress can feel like an unstoppable force, a cycle of worry that impacts not only our peace of mind but also our fiscal health. It represents the anxiety and pressure associated with the inability to meet financial obligations, be it due to unforeseen expenses, unemployment, or a plethora of other reasons. - read more
Quick and Easy Tips to Boost Your Loan Approval Odds Without Affecting Credit
Quick and Easy Tips to Boost Your Loan Approval Odds Without Affecting Credit
Loan approval can often be a crucial milestone in achieving your financial goals. Whether you're looking to buy a home, pay for education, or consolidate debt, securing a loan can provide the financial boost you need to move forward. - read more
The Importance of an Emergency Fund: A Guide for Families
The Importance of an Emergency Fund: A Guide for Families
Let's dive into the essential topic of emergency funds. An emergency fund is a stash of money set aside to cover the financial surprises life throws your way. These unexpected events can include sudden unplanned repairs, medical emergencies, or job loss. - read more
How to Create a Budget that Keeps Your Debt in Check
How to Create a Budget that Keeps Your Debt in Check
Managing debt is a cornerstone of financial wellness. Whether it's credit card debt, student loans, or a mortgage, keeping debt in check helps you maintain a healthy financial state. High levels of debt can lead to financial stress, impacting your overall well-being and limiting your ability to save for future goals. - read more
How to Use Credit Cards Wisely to Enhance Your Credit Score
How to Use Credit Cards Wisely to Enhance Your Credit Score
Your credit score is more than just a number; it's a reflection of your financial health. Essentially, it’s a numerical expression that represents your creditworthiness. Lenders use this score to assess the level of risk involved in lending you money. - read more
Understanding Soft Credit Checks: Safeguard Your Score During Loan Comparison
Understanding Soft Credit Checks: Safeguard Your Score During Loan Comparison
When embarking on the journey to secure financing, particularly for significant purchases such as a car, your credit score takes center stage in the eyes of lenders. A credit score is a numerical representation of your creditworthiness, derived from your financial history and behaviors. It wields substantial influence on your ability to acquire loans with favorable terms. - read more
Navigating Financial Uncertainty: Tips for Managing Money Worries
Navigating Financial Uncertainty: Tips for Managing Money Worries
Financial stress is a common issue that affects a large portion of individuals, often due to unexpected expenses, unemployment, or a high cost of living. It can lead to both mental and emotional strain, influencing one's quality of life and decision-making abilities. Credit scores, a critical measurement of financial health, are used by lenders to evaluate the risk of lending money. - read more
How to Improve Your Financial Health and Secure Loans Effortlessly
How to Improve Your Financial Health and Secure Loans Effortlessly
Financial health refers to the state of one's personal financial situation. It encompasses a variety of factors, such as income stability, expenses control, savings, investments, and debt management. - read more
Maximize Your Loan Options without a Credit Footprint: Strategies to Know
Maximize Your Loan Options without a Credit Footprint: Strategies to Know
As we navigate the complexities of today's economy, the significance of credit can scarcely be overstated. Whether we're considering a home mortgage, a new car, or managing our personal finances, our credit health often dictates the terms and accessibility of financial support. A robust credit score can open doors to favorable loan terms and rates, while a poor score can narrow our options and cost us more in the long run. - read more
What to Do if You've Been Denied a Loan Due to Your Credit Score
What to Do if You've Been Denied a Loan Due to Your Credit Score
Your credit score is a critical number that plays a significant role in your financial life. It represents your creditworthiness, or in simpler terms, how reliable you are in repaying borrowed money. - read more


Need Help Finding a Loan?
Find out now if you qualify and compare rates, offers and options from multiple lenders - without a credit check!
Loan Amount:
Postcode:

All quotes are provided free and without obligation by a Specialist from our National Broker referral panel. See our Privacy Statement for more details.

All finance quotes are provided free and without obligation. We respect your privacy.

Knowledgebase
Capital Gain:
The profit realized from the sale of a capital asset, such as stock or real estate, where the sale price exceeds the purchase price.


Quick Links: | No Credit Check Loans | Personal Loans No Credit Check | Bad Credit Loans | Business Loans No Credit Check | Fast Cash Loans Australia | Unsecured Loans | Guaranteed Approval Loans | Short Term Loans | Emergency Loans | Same Day Loans