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:

Royals: The Prince Of Wales And Duchess Of Cornwall To Visit

Prime Minister John Key welcomes today’s announcement that the Prince of Wales and The Duchess of Cornwall will visit New Zealand in November. This will be the second joint visit for Their Royal Highnesses to New Zealand. More>>

ALSO:

Tracey Martin Replaced: Ron Mark Is New New Zealand First Deputy Leader

Clayton Mitchell was the successful candidate for the Associate Whip position. Winston Peters was re-elected as Leader by the Caucus. Ron Mark was elected as the Deputy Leader with effect from 10am, Friday, 3rd July. More>>

ALSO:

Rebuild Rebrand: "Regenerate Christchurch" To Replace CERA

The regeneration of Christchurch will be the city’s focus for the next five years as local leadership progressively takes control of the rebuild, Canterbury Earthquake Recovery Minister Gerry Brownlee says. More>>

ALSO:

Nauru: Scholars Urge Minister To Act On Deteriorating Democracy

“Since the 2013 election in Nauru, there has been a series of disturbing developments on the islands that indicate a severe deterioration in the state of its parliamentary democracy and in the rule of law,” say the scholars. More>>

ALSO:

Foreign Affairs: NZ Begins Presidency Of UN Security Council

Prime Minister John Key has welcomed the start of New Zealand’s month-long Presidency of the United Nations Security Council in New York. More>>

ALSO:

Labour: Cash For Charter Schools, Mould For State Schools

“Recently released financial statements show the Whangarei charter school He Puna Marama received $3.9 million in government funding to the end of last year. Yet their audited accounts show they only spent $1.4 million on education, leaving almost $2.5 million over two years unaccounted for." More>>

ALSO:

Kiwirail Plans Shift From Electric: National Urged Not To Take Backwards Step

The National Government shouldn’t drag New Zealand backwards by replacing its climate friendly electric trains with carbon-polluting diesel trains, the Green Party said today. More>>

ALSO:

Capital Connection:

Get More From Scoop

 

LATEST HEADLINES

 
 
 
 
 
 
 
 
 
Parliament
Search Scoop  
 
 
Powered by Vodafone
NZ independent news