National Financial Literacy Curriculum Resource

Module 1

Earning an Income

• Sources and types of income;
• Financial issues associated with earning an income and types of employment; and
• Reasons for taxes.

Module 2

Spending and Saving

• Payment options for purchases;
• Budgeting and the consequences of poor budgeting;
• The use of credit;
• Investment options and superannuation.

Module 3

Consumer Decisions

• Key factors influencing consumer decisions;
• Factors that contribute to changes in behaviour and practices by individuals and organisations;
• Issues to consider in comparison shopping ;
• Researching consumer information from a variety of sources.

Module 4

Customer Protection

• Processes involved in achieving consumer redress;
• Organisations that provide assistance for consumers;
• Remedies and their outcomes.

Module 5

Buying a Car

• Choosing a car;
• Car insurance decisions;
• Considerations when buying a car;
• Borrowing money.

Module 6

Financial Services and Systems

• Financial skills needed for independent living;
• How to access the financial services industry;
• Financial services available to individuals;
• The purpose of social security and who can access social security;
• Consequences of good and poor financial decisions (short- and long-term) for individuals, families and the wider community.

Module 7

Managing Finances

• Sources and types of income for individuals and families;
• Maximising income from an established source;
• Managing changing financial circumstances;
• Risks and benefits of investment options;
• Factors to be considered when borrowing money;
• Evaluating financial expectations against financial opportunities.

Module 8

Consumer Awareness and Protection

• Rights and responsibilities of consumers and producers;
• Purpose of consumer legislation and how it works;
• Online shopping
• Rights and responsibilities of online consumers;
• Responsibilities of consumers to the wider community.

Module 9

Personal Investment

• Different types of investment;
• Financial and lifestyle decisions individuals make when choosing investments;
• Financial skills involved in investing;
• Investment scams;
• Ethical investment.

Module 10

Planning and Running a Business

• The role of a business plan in establishing a business;
• Financial considerations in commencing a business;
• Putting a business plan into action;
• Avoiding business failure.

Module 11

Impact of Technology

• e-business operations;
• Advantages and disadvantages of shopping online;
• Safety issues related to Internet banking;
• How e-business has opened up global markets;
• Using personal finance computer programs to manage finances.

Module 12

Economics of Everyday Finance

• The effect of economic variables on personal financial decisions;
• The sectors of the Australian economy and how they respond to change;
• The effect of economic changes on local, national and international markets.