In a recent survey by the New Zealand Council for Educational Research, 2,646 of young New Zealanders, shared these sobering results;
Financial well-being influences all manner of things including mental and physical health. Yet, unfortunately, financial literacy education is severely lacking among New Zealanders. Today’s parents are busier than ever and most are either too busy to share their financial nous, or lack up-to-date economic knowledge. Couple this with schools that don’t have space in their curriculum to teach children money management - and we see this gap turning into a chasm.
The PMG Charitable Trust is invested in building better financial futures through improved financial literacy for young New Zealanders.
We are focused on enhancing the financial understanding of young adults who have not had the opportunity to receive basic financial education.
We do this by funding and supporting financial literacy programmes that improve the understanding of fundamental topics such as interest rates, savings, loans, investments, financial planning, and the perils of products like credit cards, payday lending, and buy now, pay later options.
1. Directly contribute to the financial literacy of 8,000, 15-year-olds in 60 New Zealand secondary schools.
2. Positively influence the financial futures of young New Zealander’s, providing guidance that their current education does not impart.
3. Fix the cause not the symptoms of New Zealand’s financial literacy gaps.
In the recent Financial Capability Survey, a staggering 61% of those surveyed, seldom or never have money left over at the end of the pay period.
Life Education Trust is a charity that works in schools to educate and inspire young people to make positive financial choices. Delivered directly into secondary schools, the programme aptly named SMART$, provides an interactive performance that creates relatable scenarios that encourage and provoke conversation, followed by extended learning sessions.
Surveyed students that participated in the SMART$ programme in 2020 reported: