2017 New Zealand Global Money Week
NUMBER OF CHILDREN REACHED DIRECTLY:
Continuing the New Zealand’s Commission for Financial Capability’s (CFFC) commitment to extend its celebration of New Zealand Money Week from October to March to focus primarily on young people of the country, the CFFC has established a partnership with a group of 5 schools from the Upper Harbour Sorted Schools Cluster and the Ministry of Education. Through this partnership, a specialized class on financial management and financial planning for their futures was organized for this year’s Global Money Week celebrations
Through this program, the CFFC engaged and taught children and teenagers about financial capabilities at school, to help set them up for their future. The CFFC strongly believes that financial capability is a core life skill for participating in modern society and economic life. Financially capable people are empowered to build a wealthier future for themselves and their families. Teachers from the 5 representative schools from the Upper Harbour Sorted Schools Cluster gave special classes in line with school visits from delegates from the New Zealand Commission for Financial Capability.
Additionally, joint interaction also brought together both parents and kids filled through games, as CFFC also strongly advocates that family interaction and joint understanding are important to fully integrate financial capability knowledge, understanding, and skills for young people. Several activities and interactions were prepared, including financial literacy board games, lectures with professors on how to responsibly manage money, and an introduction to Debt Empire—a gaming app that educates players on crucial debt lessons to overcome the loan shark problem that some families deal with in New Zealand.
2016 New Zealand Global Money Week
- Upper Harbour Sorted Schools' Cluster
- Ministry of Education of New Zealand
DATE OF THE EVENT:
- 15th - 16th of March
TOTAL NUMBER OF CHILDREN AND YOUTH ENGAGED:
As a supporting initiative to the New Zealand Money Week that happens each October in the country, the New Zealand Commission for Financial Capability (CFFC) began celebrating Global Money Week in 2015 to be able to focus specifically on the younger generation of savers and future economic actors. In 2016, the New Zealand Commission of Financial Capability continued this commitment by coordinating with the Upper Harbour Sorted Schools' Cluster, which are undergoing the “Sorted” program. Schools in the “Sorted” program are currently piloting and implementing the full financial capability curriculum designed for the country.
Since 2015, the CFFC and the Ministry of Education have progressed from defining the Sorted schools’ program as “improving financial literacy” to “strengthening children’s financial capability”, as institutions have found that using the term “financial capability” to be more empowering. Together with the Sorted schools, students participated in various financial capability education lectures and interactive games throughout the Week. During these lectures and games, the program was able to bring together children from various backgrounds to be able to share their experiences, their knowledge, plan for what they want to achieve through savings and investing in the future, and have a lot of fun.
Through these sessions and games, the CFFC have aimed to teach young people about:
- Money management on a daily basis: children being able to plan their sources of money such as their allowance, keeping track of their spending and having a conscious way of living within their means
- Thinking ahead and having a plan for their future needs: highlighting that needs in the future could both be expected and unexpected
- Basic knowledge on how children will be able to choose and use various financial products: having the capability to decide what products are appropriate
- Strengthening the capability of children to make informed decisions: learning from mistakes as well as making children more aware of the way to get more information and why it is important
2015 New Zealand Global Money Week
- NZX, operator of the New Zealand Stock Exchange
- Ministry of Commerce and Consumer Affairs
- Upper Harbour Sorted Schools' Cluster
DATE OF THE EVENT:
- 9th - 17th of March
NUMBER OF CHILDREN REACHED:
New Zealand celebrated Global Money Week for the first time this year. The Commission for Financial Capability (CFFC) took the lead in coordinating with various organizations to raise awareness and to give young people the tools and inspiration they needed to become financially capable and socially empowered to positively shape their future.
New Zealand's Commission for Financial Capability worked together with NZX, the operator of New Zealand's Stock Exchange, to conduct the international launch event for this year's Global Money Week. With the first glimpse of morning sun, New Zealand opened this year's Global Money Week with a symbolic ringing of the stock exchange bell together with the Upper Harbour Sorted Schools' Cluster (UHSSC), which pilots the efforts of the New Zealand Government in enabling schools and communities to realize their vision of "financially fluent kids".
The international launch event was graced by the Commissioner for Financial Capability, the New Zealand Minister for Commerce, and the CEO of NZX. They collectively shared their perspective, vision, and encouragement for young people present during the event to develop good financial habits today, and potentially become entrepreneurs and leaders in the future.
In addition to the ringing of the stock exchange bell, the Commission for Financial Capability also organized a meeting and seminar for young student leaders from different backgrounds from New Zealand. As most young people from New Zealand fear not being able to own their own home in the future, the students discussed with finance professors the importance of starting to save young to realize a future where they will be able to have their own homes.