Transforming Financial Education In Schools
Press Release – New Zealand Government
Embedding essential skills into the curriculum will ensure our young people are better prepared to make informed financial decisions in a complex financial world. This will positively impact their lives and the broader economy, says Minister …
Minister of Education
Hon Scott Simpson
Minister of Commerce and Consumer Affairs
Financial education will be embedded as a core element of the refreshed social sciences curriculum for Year 1-10 students, set to be available for use from 2026, Education Minister Erica Stanford announced today.
'Embedding essential skills into the curriculum will ensure our young people are better prepared to make informed financial decisions in a complex financial world. This will positively impact their lives and the broader economy,' says Minister Stanford.
For younger students the curriculum will cover key financial skills, such as identifying needs versus wants, having a bank account, earning, spending and saving. Older students will gain the knowledge needed to understand more complex concepts, such as budgeting, investment, interest, taxes, and insurance to help to build lifelong financial skills. We have already included financial maths in the new maths curriculum, which is being delivered this year.
To support the implementation of financial education in the new curriculum, a variety of tools and resources, developed in collaboration with financial organisations, banks, and charitable trusts, will be available to schools, ensuring they can effectively deliver the curriculum.
A new partnership between the Ministry of Education and the Retirement Commission will map the offerings from financial education providers against the updated curriculum. The Retirement Commission's work with providers will ensure consistent curriculum-aligned supports and resources, giving schools confidence in their delivery.
This resource map will be extended into senior secondary years with guidance and resources for Year 11-13 students, supporting schools to flexibly deliver ongoing financial education to their students.
'As the Minister responsible for the Retirement Commission, I absolutely believe that strengthening financial education is crucial to our Government's focus on economic growth. We are all consumers, and financial literacy can set young Kiwis up to be savvy consumers – whether it's knowing how to invest wisely, choose the best loan at a bank, or even identify a scam,' Commerce and Consumer Affairs Minister Scott Simpson says.
'We know that New Zealand parents have long called for financial education to be a priority. This curriculum update answers those calls, ensuring students are equipped with the knowledge to thrive in both personal and financial aspects of their lives,' says Minister Stanford.
This initiative marks a significant step forward in New Zealand's education system, placing a strong emphasis on real-world skills that will empower students to take control of their financial futures.
Note:
Providers working with the Retirement Commission include:
• Sorted in Schools (Retirement Commission)
• Banqer
• MoneyTime
• Life Education
• Young Enterprise Trust
• Savvy
• Westpac
• ASB
• Kiwi bank
• BNZ
A draft of the updated social sciences learning area will be available in Term 4, 2025 for feedback. An updated version will be available for schools to use in 2026, and is planned to be required from 2027.
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