Financial literacy in Australian schools

Developing student skills and understanding around money

This infographic sets out key PISA 2015 results and highlights engagement with ASIC's MoneySmart Teaching program in Australian schools since its launch in 2012. The program aims to build the capacity of teachers to deliver financial literacy education in the classroom and effectively develop student skills and understanding around money.

PISA OECD highlights infographic

Financial literacy in Australian schools

OECD PISA 2015 Results1

International comparison 

Australia's mean financial literacy performance remains higher than the OECD average

Students' performance across the financial literacy proficiency scale2

Level 1 or below 

Australia - 20%

OECD - 22%

Level 2

Australia - 19%

OECD - 22%

Level 3

Australia - 24%

OECD - 25%

Level 4

Australia - 22%

OECD - 19%

Level 5

Australia - 15%

OECD - 12%

Who Australian students discuss money matters with

12% - Friends more than parents

38% - Parents & friends equally

50% - Parents more than friends

Students who discuss money matters with parents more than friends outperform students who discuss money matters with friends more than parents

Australian student saving, spending & financial access

81% - Students with a bank account or a prepaid credit card

52% - Students who earn money from working outside school hours

57% - Students who regularly save money

67% - Students who would save money specifically to buy something if they did not have enough money

Building capability in young Australians

ASIC's MoneySmart Teaching Program

Building teacher capability through professional development and classroom resources

Teacher & school engagement with ASIC's MoneySmart (2012-2017)

6000 + Schools accessing ASIC's MoneySmart Teaching resources

30,000 + Teachers undertaken ASIC's MoneySmart Teaching Professional Development

Tools & resources on moneysmart.gov.au

36 Units of work aligned to the Australian Curriculum for Primary & Secondary

16  Hours of professional development for teachers

83 Digital resources for Primary & Secondary teachers

49 Online tools, including calculators and apps

2013 - 2017 evaluation of Program3

ASIC's MoneySmart Teaching Program impact evaluation indicates:

  • 90% of teachers using the Program report increased capacity to teach financial literacy
  • Students engaged with the Program show higher financial literacy knowledge

What's new?

First Business

App and online module to assists students working to start a small business

Knowing Growing Showing

Online resource to help teachers deliver authentic & meaningful learning for Indigenous students

Australian Curriculum alignment

ACARA mapped resources across all year levels and learning areas

Classroom resources 

Online interactive books to support teachers and students in Year 1-3

Sources 

  1. PISA 2015: Financial Literacy in Australia ACER May 2017
  2. The scale consists of 5 levels of proficiency (ability in financial literacy) ranging from 5 - high performers to 1- low performers
  3. Independent Evaluation of ASIC's MoneySmart Teaching program 2013 - 2017 EY Sweeney available July 2017.

Related links


Last updated: 24 May 2017