Gordon Campbell | Parliament TV | Parliament Today | Video | Questions Of the Day | Search

 


NZ students financially savvy

Hon Hekia Parata

Minister of Education
10 July 2014 Media Statement
NZ students financially savvy

Many New Zealand students are among the most financially literate, and score higher than the OECD on average, Education Minister Hekia Parata says.

The results of the New Zealand Financial Literacy Report are based on findings from the 2012 Programme for International Student Assessment (PISA) study, which assessed the financial literacy of 15 year-olds at that time.

New Zealand was one of 18 countries to take part.

The results show:

• One in five New Zealand students showed advanced skills in financial literacy compared with one in ten students among OECD countries.

• Nine out of ten New Zealand students reported they had a bank account, and those students achieved a much higher score on average than their peers who did not.

• Students who are good at financial literacy are also likely to be good at reading and mathematics, further highlighting the relationship between literacy and numeracy and learning in other parts of the curriculum.

“It is great to see so many Kiwi children are financially literate. The more financially literate our young people are, the better placed they are to make decisions that enhance their wellbeing,” Ms Parata says.

Despite these positive results, the report also reaffirms that there are areas where further improvement is needed to raise achievement for all students.

“The report shows that students from low socio-economic backgrounds scored lower than students from high socio-economic backgrounds. Māori and Pasifika students also scored lower than the New Zealand average,” Ms Parata says.

“Since 2012, a lot of work has been done to build financial literacy for all our students, including a suite of new online financial capability resources that can be used across all areas of the curriculum from Years 1 – 13 to build financial literacy that were released in April this year.

“We are also using information collected from across our schools and communities, such as National Standards, to identify, target and support with extra resources, the students who need it most,” Ms Parata says.

For more information on the New Zealand Financial Literacy Report results, visit: http://www.educationcounts.govt.nz/publications/schooling/2543/pisa-2012/148116

Ends

Notes for Editors

The report, which coincides with the OECD international release of financial literacy results, looks at New Zealand achievement in an international context, the relationship between financial literacy and student background such as gender, ethnicity, immigrant status, language spoken at home, and economic, social and cultural status, as well as students’ own experience with money.

The relevance of financial capability is acknowledged in the New Zealand Curriculum where it is included as a theme that schools can use for cross-curricular teaching and learning programmes.

The Ministry has a range of resources available at http://nzcurriculum.tki.org.nz/Curriculum-resources/Financial-capability


© Scoop Media

 
 
 
 
 
Parliament Headlines | Politics Headlines | Regional Headlines

 

Parliament Today:

The Kids: OECD Report Shows Huge Impact Of Poverty On Education

A new report from the OECD has again highlighted the negative effects of poverty, showing that disadvantaged children in New Zealand are more than six times more likely to underachieve in maths than children from wealthier homes. More>>

ALSO:

Pacific: NZ Pledges $500,000 To Help Address Zika

“With the Zika virus now confirmed in a number of Pacific countries, New Zealand is committed to helping limit the impact and spread of the virus in the region,” says Mr McCully. “New Zealand will provide $250,000 as a contribution to the WHO to implement the Pacific Zika Action Plan, and a further $250,000 to enable countries in the region to respond rapidly if required." More>>

ALSO:

Labour: Police Commissioner 'Doesn’t Get Force Needs'

The Police Commissioner has let down the public and his own force by insisting the police have what they need despite it taking a year to solve a burglary and overwhelming number of officers saying they are under-resourced, says Labour’s Police spokesman Stuart Nash. More>>

ALSO:

Gordon Campbell: On The US Pressure To Expand Our Role In Iraq

Foreign news services are being more forthcoming about what the “next 12 months” will entail – essentially, the defence ministers will be under US pressure to increase their “training” role preparatory to an assault on the city of Mosul in northern Iraq. More>>

ALSO:

Parliament Restarts: Prime Minister’s Statement

Our policy agenda and legislative programme will reflect the Government’s four priorities: • to responsibly manage the Government’s finances • to build a more competitive and productive economy • to deliver better public services to New Zealanders, an • to support the rebuilding of Christchurch. More>>

ALSO:

NZEI Survey Report: Special Needs Students Missing Out

The survey revealed that around 16 percent of students were on schools’ special needs registers, but nearly 90 percent of schools’ special needs coordinators did not believe there was adequate support for students and their learning... More>>

ALSO:

Interim Report: Waitangi Tribunal On Ture Whenua Legislation

Labour on Proposed changes to Maori land rules: “To have Treaty Negotiations Minister Chris Finlayson dismiss findings as ‘bizarre’ is totally disingenuous and disrespectful. What’s bizarre is Maori Development Minister Te Ururoa Flavell stubbornly pushing through this Bill before the Waitangi Tribunal has even completed its report..." More>>

ALSO:

Spy Update: Appointment Of GCSB Acting Director

GCSB Chief Legal Advisor Lisa Fong will become the Acting Director of the Government Communications Security Bureau (GCSB) from 15 February 2016, Minister Responsible for the GCSB Christopher Finlayson announced today. More>>

Get More From Scoop

 

LATEST HEADLINES

 
 
 
 
 
 
 
 
 
Parliament
Search Scoop  
 
 
Powered by Vodafone
NZ independent news