Financial Literacy Workshops

A compilation of five lessons facilitated by experienced Financial Literacy and Commerce Educator, Mark Wood. Each lesson is able to be taken in isolation or in full sequence. These can be delivered to single classes, or a larger group. 

Lesson One: Banking and Interest (50 minutes)

Students will learn: the role banks play in our society and personal lives; the services they provide; receiving and paying interest and power of compound interest. 

Lesson Two: Debt and Credit (50 minutes)

Students will learn: what is debt; types of debt; benefits and dangers of debt; concept of credit scores. 

Lesson Three: Budgeting (50 minutes)

Students will learn: how to create a personal budget; the importance of budgeting; how to critically analyse purchases; downsides of consumerism; calculate percentage discounts and surcharges. 

Lesson Four: Investing Basics (50 minutes)

Students will learn: the concept of investing; assets vs liabilities; the different types of investments, the concept of risk and return; passive income. 

Lesson Five: Taxation Basics (50 minutes)

Students will learn: what tax is; the role tax plays in society; the different tax’s we pay; calculate tax obligations.

These lessons were carefully formulated to address growing problems due to the lack of understanding on several key pieces of knowledge required by all Australian teens to navigate the increasingly complicated and challenging economic climate. 

The practical finance series aims to educate teens in order to help them achieve the following:

• Empowerment: Financial literacy equips individuals with the knowledge and skills to effectively manage their finances. It empowers them to make informed decisions about saving, investing, budgeting, and debt management.

• Financial Stability: Understanding concepts like budgeting, saving, and investing helps individuals build a solid financial foundation, leading to greater stability and security.

• Debt Management: Many people struggle with debt because they lack an understanding of interest rates, loan terms, and how debt impacts their overall financial health. Financial literacy courses can provide strategies for managing and reducing debt effectively.

• Investment Knowledge: Investing can be complex, but it's essential for building long-term wealth. Financial literacy courses can teach individuals about different investment options, risk management, and the importance of diversification.

• Preparing for the Future: Planning for retirement, buying a home, or saving for a child's education requires financial foresight. A course on financial literacy helps individuals understand these long-term financial goals and how to work towards them.

• Consumer Awareness: Financial literacy isn't just about personal finance; it also involves understanding financial products and services. By being informed consumers, individuals can avoid scams, predatory lending practices, and other financial pitfalls.

• Economic Stability: A population with strong financial literacy skills contributes to overall economic stability. When individuals are financially literate, they are less likely to default on loans, contribute to financial crises, or rely heavily on government assistance programs.