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Media release

CommBank can

Media release

Teachers are essential in educating Aussie kids about money management and deserve to be recognised: Parents

Commonwealth Bank Foundation launches the 2013 Teaching Awards to celebrate teachers who are inspiring kids to improve their financial literacy.

Tuesday, 30 April 2013: While 98 per cent of Australian parents say they have a responsibility to set a good example when it comes to educating their kids about money management, a third (33 per cent) believe they are not effective at managing their own money and don’t want their child to be the same, according to a new survey commissioned by the Commonwealth Bank Foundation.

The survey revealed that parents (93 per cent) believe it is important for teachers to educate kids about money and finance, and that recognition of the work of outstanding teachers in Australia is important (98 per cent).

To acknowledge teachers and foster the programs they are developing to improve the money management skills of young Australians, the Commonwealth Bank Foundation has launched its 2013 Teaching Awards program.

Ian Narev, Commonwealth Bank Chief Executive Officer and Foundation Chair said, “Teachers play an integral role in shaping a child’s understanding of money management which is a critical life skill. Through the 2013 Teaching Awards we will recognise inspirational teachers who are finding fun, engaging and creative ways to help kids build their financial literacy skills”.

The 2013 Commonwealth Foundation Teaching Awards will reward 15 teachers across the nation with $10,000 each to fund financial education initiatives in their schools, along with an additional $2,000 for each winning teacher.

Applications are now open to all Kindergarten to Year 12 teachers in Australian schools and will close on Friday, 7 June 2013. Winners will be announced on Wednesday, 31 July 2013.

The application process is easy. Teachers simply need to tell the Commonwealth Bank Foundation about a money management program that is currently in place, or a program that they would like to implement. To apply for the Awards, visit www.commbank.com.au/teachingawards

The Commonwealth Bank Foundation was established in 2003 as part of our ongoing commitment to improving the financial literacy of young Australians. The Foundation runs a range of educational programs across Australia including the award-winning StartSmart workshops..

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Georgia Psaltis
Commonwealth Bank
georgia.psaltis@cba.com.au
T (02) 9118 6487 | M 0477 341 093


Note to editors:

About the Commonwealth Bank Foundation Teaching Awards

Applications open on Tuesday, 30 April 2013 and close on Friday, 7 June 2013. Award recipients will be announced on Wednesday, 31 July 2013. The Teaching Awards are open to all Kindergarten to Year 12 teachers in Australian schools.

There are 15 awards to be won. Winners will receive $10,000 for their program, plus $2,000 as a personal reward. The $10,000 award will support the commencement or continuation of a project in the school that builds students’ money management skills.

About the Commonwealth Bank Foundation

The Commonwealth Bank Foundation was established in 2003 to improve the financial literacy of young people. The Foundation delivers a range of educational programs, including our award-winning StartSmart workshops, that will reach more than 275,000 Australian students this year. The Foundation’s programs are educational and do not promote the products or services of the Commonwealth Bank.

About the survey:

  • The study was conducted among 1,031 Australians aged 18 years and over who are parents of children aged 5-18 years old.
  • Surveys were distributed throughout Australia including both capital and non-capital city areas.
  • Fieldwork commenced on Thursday, 28 March and was completed on Wednesday, 3 April 2013.
  • After interviewing, data was weighted to the latest population estimates sourced from the Australian Bureau of Statistics.


Media contact:

Georgia Psaltis
Commonwealth Bank
T (02) 9118 6487 | M 0477 341 093