Global Money Week
Teaching kids about money
Teaching kids about money is a great investment in their future.
In a world where we use credit cards and online shopping to buy the
things we need, and internet banking to move our money around, it
can be hard for young people to see the relationship between
earning, spending and saving.
Parents and teachers play a vital role in helping kids
understand the value of money and how to manage it. Global Money
Week (12 - 18 March 2018) is the perfect time to use ASIC's
MoneySmart resources to help you talk to the kids in your life
about money matters.
What is Global Money Week?
Global Money Week is an international campaign that promotes
awareness of money and the importance of financial capability.
Every year schools, organisations and communities around the world
take action to give people the tools they need to shape their
The theme of this year's campaign is 'Money Matters Matter'.
Visit the Global Money
Week website for more information.
Teach your kids about money
One way your kids learn about money is by watching you manage
the family's finances. When they see you withdraw money from the
ATM, pay the bills, or buy the groceries, do they understand where
the money comes from and why you make choices about money the way
There are opportunities to talk to your kids about money when
situations arise in everyday family life, for example:
- At the ATM - explain where the money comes
from and how you've earned it. Help them understand it doesn't just
come out of a hole in the wall.
- At the supermarket - prepare a list, research
prices and show them how you can save money if you shop
- Doing the family budget together - involving
your kids in budgeting can help them learn the difference
between needs and wants, costs and spending. Our budget planner
money manager are great tools you can use.
- Earning their own money - pocket
money or a part-time job can help young people learn
responsibility and the importance of setting financial goals.
- Mobile phones - discuss options for mobile phone plans and
checking and managing data usage to control costs.
The earlier kids learn about how money works in the real world,
the more likely they will be able to make informed and wise
financial decisions later in life.
Video: Kids talk money
Video of kids talking money
As part of Global Money Week we asked some kids what they know
about money and this is what they said.
Visit our teaching your kids about
money page for more ideas on how you can help your kids to be
good money managers. You could also view David and Libby Koch's
Raising MoneySmart Kids video series.
Our MoneySmart Teaching program has a range of Australian
Curriculum aligned tools and resources for teachers to help young
Australians become confident and informed consumers.
Here are some examples of MoneySmart Teaching resources that
teachers can use during Global Money Week to support teaching and
learning in their classroom:
- Bertie's socks -
students learn about Australian notes and coins and that money is a
finite resource in the context of a shopping trip. This resource is
supported by a digibook.
- Fun day out - students
learn the difference between needs and wants and how to stick to a
budget by organising a 'day out' for their class.
cost of cats, dogs and …snakes - students research the cost of
pet ownership by following characters and helping them save, spend,
plan, budget and make consumer choices.
- Could I live smaller? -
students investigate the influences and impact of a consumer
society on teenagers' choices and decision-making.
- ASIC's First Business online
module - designed to help students decide whether starting a
small business is right for them.
- MoneySmart Rookie for
educators - resources designed to help young people
transitioning into adulthood manage their money with
- ASIC's Be MoneySmart - an
online training resource for VET students (including apprentices
and trainees) to develop money management skills, that support
future careers in small business or as contractors.
Check out the extensive range of primary and secondary teaching
Video: Eddie Woo on raising MoneySmart kids
Video of Eddie Woo
In this video Australia's most famous high school maths teacher,
Eddie Woo, provides his top tips for teaching kids about money.
Teacher professional development
We have a professional development program that includes online
and face-to-face workshops to give teachers the skills and
knowledge they need to teach young people about money.
More than 32,000 teachers have undertaken ASIC's MoneySmart
Teaching professional development since 2012. Visit our professional development
webpage to see the full list of courses available.
Become a MoneySmart
ASIC's MoneySmart Schools program provides recognition and
support for primary and secondary schools that make it a priority
to teach students how to manage money.
Find out more about the MoneySmart Schools program, and how
your school can become a MoneySmart
Get into the spirit of Global Money Week this
year by helping the kids in your life develop better money
Last updated: 03 Sep 2018