We’re helping high school students get Cashed Up

We’re supporting a new free program called Cashed Up to help boost financial literacy for young Australians.

Cashed Up aims to give high school students across Australia real-world financial skills and awaken their financial confidence.

By partnering with Financial Basics Foundation, we’re delivering 6 free financial literacy courses that are designed by educators and available to all Australian secondary schools.

Cashed Up gives teachers ready-to-use lessons that they can include in different subjects to teach teens life skills, including how to manage money.

How getting Cashed Up can help teens

Research shows young people have a greater chance of building a better financial future if they get financial education early.

The Australian Government’s National Financial Capability Survey¹ found that teaching young Australians financial skills and good habits can set them up for better financial success and resilience.

The survey found:

• 94% of young Australians aged 14-17 feel it’s important to learn how to manage their money
• only 42% feel confident or very confident to manage their money
• around 60% of female and over 40% of male Australians aged 18-24 find dealing with money stressful and overwhelming
• both male and female Australians aged 18-24 perform worse than older age groups at financial literacy.

It found teaching financial literacy can help young people better navigate financial firsts, including:

• a first job
• first major purchases
• moving out of home.

Free financial literacy program

While there’s some financial literacy education in the national school curriculum, there’s currently no consistent nationwide approach.

Cashed Up is a free program to all schools and community organisations, so financial literacy is available to all young people.

Cashed Up delivers 6 online courses for students from Year 7-12, including:

1. Managing money
2. Spending habits
3. Getting ready to work and earning an income
4. Earning money, understanding the workforce, tax, and consumer and worker rights and responsibilities*
5. Building wealth*
6. Preparing teens for adult responsibilities like renting, buying a car, insurance and budgeting.*

* Courses 4-6 launch in 2025

How learning financial basics builds financial confidence

CEO of Financial Basics Foundation, Katrina Samios, said Cashed Up could help inspire financial literacy confidence in young Australians.

‘We know from research and decades of experience in education that building financial skills early is essential for young people to grow into financially capable and successful adults,’ Ms Samios said.

‘With the support of Australian Retirement Trust, we are excited to offer this free program to schools and community organisations, helping to foster a financially confident generation.’

Why we support Cashed Up

We aim to make a positive impact in the community where our members live and work. Our partnership with Financial Basics Foundation to support Cashed Up helps us awaken the financial futures of more young Australians.

Supporting Cashed Up also helps us towards our goal of reaching and supporting the financial capability and confidence of 50,000 young Australians, vulnerable women and Indigenous Australians.

Learn more

Find out about Cashed Up and how you can get involved.

Details

1. Australian Treasury, February 2022, National Financial Capability Survey 2021: National Financial Capability Strategy 2022, accessed 4 November 2024 at moneysmart.gov.au