Facilitator Guide - Home | ASIC's MoneySmart Facilitator Guide Contents Using this document 4...

Facilitator Guide for leading consumer and financial literacy

education in primary and secondary schools

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3

Facilitator Guide

Contents

Using this document ................................................................................................................................... 4

ASIC’s MoneySmart Teaching professional learning model .................................................................. 4

Implementation ....................................................................................................................................... 5

Facilitators ............................................................................................................................................... 6

Role of the facilitator ............................................................................................................................... 6

Key steps for implementation ................................................................................................................. 6

Overview of workshops .............................................................................................................................. 9

Workshops .............................................................................................................................................. 9

Accreditation ......................................................................................................................................... 11

Considerations ...................................................................................................................................... 11

Resource 1 – Facilitator task sheet .......................................................................................................... 12

Resource 2 – Parent/carer sample invitation letter .................................................................................. 14

Resource 3 – School-based curriculum audit template ........................................................................... 15

Resource 4 – Preparing to implement a unit of work ............................................................................... 30

Resource 5 – Reflecting on a unit of work ............................................................................................... 31

Resource 6 – Parent/carer sample information letter .............................................................................. 32

Resource 7 – Adapting existing units ....................................................................................................... 33

Resource 8 – Unit of work planner ........................................................................................................... 35

4

Facilitator Guide

Using this document

ASIC’s MoneySmart Teaching program is the only national financial literacy program for schools

supported by states and territories and endorsed by Education Ministers through a National Partnership

Agreement. The program has the following components:

promoting a curriculum-based approach to teaching consumer and financial literacy in Australian

schools

building teacher capability and confidence through professional development and personal learning

providing teaching resources, aligned to the Australian Curriculum, that use real-life consumer and

financial contexts to build student capability

creating partnerships with education departments and schools to progress financial literacy around

Australia.

This Facilitator Guide provides guidance and support for those leading their school on a professional

learning journey to embed consumer and financial literacy into their school’s curriculum.

This guide outlines one approach that schools could use to implement consumer and financial literacy

education. A step-by-step professional learning model is provided through a series of three teacher

workshops and one parent/carer workshop that can be used as is or adapted to suit the school’s

professional learning requirements and priorities.

Workshops and supporting resources are all freely available on the moneysmart.gov.au/teaching

website.

ASIC’s MoneySmart Teaching professional learning model

The diagram on the following page illustrates the main strategies utilised by ASIC’s MoneySmart

Teaching professional learning model.

http://www.moneysmart.gov.au/teaching

5

Facilitator Guide

Implementation

A whole-school approach to consumer and financial literacy education is the ideal but this process can

be adapted to meet the differing professional development models in schools. It can be undertaken by

teaching teams in specific year levels, faculties or learning areas either as a whole process or by using a

staggered/staged approach.

Schools often have their own processes in place for curriculum review and renewal. These processes

may occur over a period of years. Schools following their own process may find this Facilitator Guide a

useful reference.

Note: The term facilitator is used in this document but schools may use other terms relevant to the school setting

such as leader or coordinator.

ASIC’s

MoneySmart

Teaching

model

involves:

5 Reflection and refinement; addition to school curriculum

6 Presenting outcomes to the staff, students and community

7 Embedding consumer and financial literacy education into the

school’s curriculum

1 Professional development and awareness raising

2 Leadership and collaborative teamwork

3 The teaching of consumer and financial literacy units of work

4 Mapping resources to the National Consumer and Financial Literacy

Framework and the Australian Curriculum

6

Facilitator Guide

Facilitators

Facilitators oversee/take carriage of leading the professional development in consumer and financial

literacy education for their school.

Any staff member interested in consumer and financial literacy can be the facilitator. Two or more

teachers may work together to ensure that consumer and financial literacy education is effectively

implemented across their school.

Being a facilitator is not dependent on being an expert in any particular learning area or in consumer

and financial literacy education. Consumer and financial literacy can provide a context for teaching and

learning in all Australian Curriculum learning areas. ASIC’s MoneySmart Teaching resources have been

developed to support this and are all aligned to the Australian Curriculum.

Some states and territories have a project officer to support facilitators in their role of implementing

MoneySmart Teaching in their school. Project officer contact details are available at

moneysmart.gov.au/teaching.

Role of the facilitator

Facilitators will lead the school community through a suggested curriculum development process

centred around three teacher workshops and a parent/carer workshop. These workshops and online

modules are on the ASIC MoneySmart website – teaching tab. An overview of the workshops is

provided in the next section.

The facilitator's key responsibilities are:

developing an implementation plan in consultation with the school executive

presenting or coordinating the presentation of three teacher workshops to build teachers’

understanding and expertise in consumer and financial literacy education and presenting one

parent/carer workshop (see Overview of workshops section) – the most important workshop that

all staff should attend is Teacher workshop 1 – Introduction to consumer and financial literacy

education for teachers

leading an audit of the school’s curriculum to see where consumer and financial literacy is currently

being taught – the template at Resource 3 supports this activity

supporting and encouraging the sharing/showcasing of the consumer and financial literacy teaching

and learning outcomes with the school and broader community.

Key steps for implementation

These steps are a guide for facilitators to carry out their role. The steps can be adapted to meet the

needs of individual schools and may be a useful reference if a school is using their own model of

professional development to implement consumer and financial literacy education into their school.

Step 1: Leadership

To ensure the implementation of ASIC’s MoneySmart Teaching is well received within the school it is

suggested that members of the school executive and the curriculum coordinator are involved in the

planning of the professional learning workshops. This leadership team could:

provide advice on the implementation process

provide support to ensure the effective implementation of ASIC’s MoneySmart Teaching initiative

endorse and communicate a clear understanding of the role of the facilitator within the school.

https://www.moneysmart.gov.au/teaching/professional-development/state-and-territory-project-officers

7

Facilitator Guide

Facilitators oversee the implementation of consumer and financial literacy education in their school and

should have an understanding of:

the rationale and benefits of consumer and financial literacy education through ASIC’s MoneySmart

Teaching program for students and the school community

the stages in the professional development process

the process/requirements to become a MoneySmart School – refer to the Teacher Guide and/or the

ASIC MoneySmart website – teaching tab for more information on MoneySmart Schools.

Facilitators can guide and support all aspects of implementation including:

delivery of workshops 1, 2 and 3

teacher support in delivery of units of work

parent engagement

community engagement.

Step 2: Professional development and resources

It is important to be familiar with the resources on the ASIC MoneySmart website – teaching tab:

the Teacher Guide

this Facilitator Guide

the professional learning workshops and their equivalent online modules

the suite of classroom and parent resources on ASIC’s MoneySmart website – teaching tab – these

include units of work, digital resources and videos

ASIC’s MoneySmart Consumer resources and tools.

This will build the facilitator’s knowledge, understanding and confidence in leading the implementation of

ASIC’s MoneySmart Teaching in the school.

Step 3: Manage the process

It is advised that a plan be developed in consultation with the school executive and colleagues, outlining

the key activities and timeline for the implementation of the project. This will become a tool for personal

documentation of the implementation process and support any reporting requirements.

A Facilitator task sheet is provided at Resource 1.

Step 4: Deliver workshops

Facilitators or key staff deliver the series of face-to-face workshops and support staff where appropriate

to participate in the online module workshop equivalents. The online modules could be undertaken by

teachers who may have been unable to participate in the face-to-face Workshop 1 presentation or may

have joined the teaching team after the implementation process has begun.

The workshops support a whole school or teaching team/faculty specific approach to implementing

consumer and financial literacy education. It is recommended that the whole school participates in the

awareness-raising introductory Teacher workshop 1 – Introduction to consumer and financial

literacy education for teachers. Teacher workshop 2 – Exploring consumer and financial literacy

education in your classroom and Teacher workshop 3 – Sharing your experiences of teaching

consumer and financial literacy focus on implementing consumer and financial literacy units of work

and can be delivered using the PowerPoint presentation or more informally with a greater focus on

discussion. PowerPoint presentations and online modules are provided to support facilitators in the

8

Facilitator Guide

delivery of professional learning to teachers and to help engage with parents of the students. All

resources are available on ASIC’s MoneySmart website under the teaching tab.

Step 5: Showcasing outcomes

Sharing/showcasing provides an opportunity to celebrate the achievements of staff, students and

community. It is an excellent opportunity for broader interaction with parents and the community and

can also be used as a media event to promote the school.

The sharing/showcasing of consumer and financial literacy learning outcomes can take various forms

including:

being a feature at a school or year level open day/evening

an information evening

an interactive display involving student presenters

static or digital displays

a roundtable discussion.

Step 6: Culminating tasks

When all the workshops and the sharing have been completed facilitators are encouraged to:

present a short report on the success or otherwise of the consumer and financial literacy

professional learning journey to the school’s leadership team

establish a small team who will support the continual focus on consumer and financial literacy

education and work to incorporate current informal consumer and financial literacy education

activities into the formal school curriculum – see Workshop 3 – Sharing your experiences of

teaching consumer and financial literacy PowerPoint presentation for details.

Optional: Self-assess achievements as a facilitator in a summative report against the Australian

Professional Standards for Teachers, then provide a report to their supervisor for validation and

documented feedback. This would support the accreditation of the professional development they have

engaged in as counting towards the requirements for teacher registration.


9

Facilitator Guide

Overview of workshops

Each workshop is supported by a PowerPoint presentation complete with presenter notes, which can be

adapted to suit your school audience. Workshops and equivalent online modules are provided on the

ASIC MoneySmart website – teaching tab.

Workshops

Teacher workshop 2 – Exploring consumer and financial literacy education in your classroom

and Teacher workshop 3 – Sharing your experiences of teaching consumer and financial literacy

may be presented more informally as a roundtable discussion using the PowerPoint presenter notes to

guide discussion.

An overview of content for each workshop is detailed in the following table.

Workshop title Audience Purpose Resources

Teacher

workshop 1

Introduction to

consumer and

financial literacy

education for

teachers

60–90 mins

Whole school staff to raise awareness of consumer

and financial literacy education –

why it is important

to show teachers what is in it for

them – professionally and

personally

to introduce ASIC’s MoneySmart

website – teaching tab and all the

resources available

to introduce the MoneySmart

Schools concept

Teacher

workshop 1

PowerPoint

or

Online module 1

Parent/carer

workshop

Teaching kids

about money

60 mins

Parents/carers and

interested

community

members

to provide an overview of

consumer and financial literacy

education and why it is so

important

to show how the school is

recognising its importance

to allow parents/carers to provide

input into which issues should be

addressed

to provide parents/carers with

information on how they can help

their children at home

Parent/carer

workshop

PowerPoint

Resource 2 –

Invitation template

http://moneysmart.gov.au/

10

Facilitator Guide

Teacher

workshop 2

Exploring

consumer and

financial literacy

education in your

classroom

120 mins

Selected teachers

or teaching teams

interested in

teaching consumer

and financial

literacy – year

levels/faculty based

or combinations

to review the importance of

teaching consumer and financial

literacy education

to consider parent/carer responses

to undertake an audit of what

consumer and financial literacy is

already being taught and identify

existing units of work that could

be adapted to include a consumer

and financial literacy focus

to explore ASIC’s MoneySmart

Teaching units of work

to review any existing and

adapted units of work with C&FL

content to align with the National

Consumer and Financial Literacy

Framework

to select units of work that will be

taught to specific classes

to prepare for Workshop 3

Teacher

workshop 2

PowerPoint

Parent/carer

responses

Resource 3 –

Audit template

Resource 4 –

Preparing to

implement a unit of

work

Resource 5 – Unit

of work reflection

template

Resource 6 –

Information letter to

parents template

Teacher

workshop 3

Sharing your

experiences of

teaching

consumer and

financial literacy

120 mins

Teachers who

taught ASIC’s

MoneySmart

Teaching units,

adapted existing

units or created

new units

to engage teachers in reflective

feedback to their teaching teams

on the unit taught – student

engagement, strengths and

possible enhancements

to identify and select ASIC’s

MoneySmart Teaching units of

work to add to school’s bank of

units

to add content descriptions for

newly developed C&FL units of

work to school’s curriculum bank

to move consumer and financial

literacy education activities from

the informal to formal curriculum

to prepare for sharing/showcasing

the consumer and financial

literacy teaching and learning

outcomes with the school and

broader community

Teacher

workshop 3

PowerPoint

Resource 5 – Unit

of work reflection

template

Resource 7

– Adapting existing

units of work

Resource 8 – Unit

planner for

development of

new C&FL units of

work

Innovation and

enterprising

behaviours case

study – primary

school example

11

Facilitator Guide

Accreditation

ASIC’s MoneySmart Teaching professional learning aligns with the Australian Professional Standards

for Teachers and is informed by the Australian Charter for Professional Learning of Teachers and

School Leaders. Further information is provided in the section titled Professional learning and

accreditation in the Teacher Guide.

Considerations

Personal financial planning and consumer awareness may be a sensitive matter for some teachers and

parents/carers or an area of passion for others. Some may hold the view that it is the parents/carers

who are responsible for educating their children in consumer and financial literacy. The workshops

highlight that research and recommendations all point to the need for schools to teach this life skill as

early as possible.

Within families there is a wide range of practices and behaviours and this will impact on the attitudes,

experiences and expectations of students. It is an area of learning that requires great sensitivity.

Working through the resources will prompt teachers and parents to reflect not only on the needs of

young people but also on their own personal financial literacy and consumer habits. Facilitators should

avoid personal disclosures in this area, or sharing confidential information about themselves or others,

providing advice or making judgements that could be construed as financial advice.

ASIC’s MoneySmart consumer website moneysmart.gov.au is a source of relevant information and

resources for teachers or parents and carers who indicate that they would like to seek guidance or

discuss this topic further.


Facilitator Guide – Resources

12

Resource 1 – Facilitator task sheet

This task sheet is provided to assist facilitators in the implementation of ASIC’s MoneySmart Teaching

program and also serves as evidence of their leadership and curriculum development role in the

implementation of consumer and financial literacy into the school.

(Note: Suggested plan only – adapt to suit school processes and priorities)

Tasks Date Comments

1 Meet with School Executive including Curriculum Coordinator to:

provide information on ASIC’s MoneySmart Teaching program

and seek agreement to implement a program of consumer and

financial literacy education into the school

discuss and develop the implementation plan and/or timeline to

show how the school will prioritise consumer and financial

literacy education

2 Professional learning for whole school/faculties

determine date for Teacher workshop 1 – Introduction to

consumer and financial literacy education for teachers and

identify possible dates for the other workshops

present Workshop 1 to whole school/faculties

3 Parent/carer awareness and involvement opportunities

identify possible dates for parent/carer workshop – it should

occur between Teacher workshop 1 – Introduction to

consumer and financial literacy education for teachers and

Teacher workshop 2 – Exploring consumer and financial

literacy education in your classroom

send out parent/carer invitations for workshop (Resource 2)

present parent/carer workshop

collate parent/carer comments for Teacher workshop 2

4 Identification of implementation team/s

select classes and/or teaching teams to implement consumer

and financial literacy units of work

present Teacher workshop 2 to selected classes and teaching

teams and hand out Resources 3, 4 and 5

teaching teams select units of work to be taught

set date for Teacher workshop 3

send out parent information letter – this might best be done by

the classroom teacher – Resource 6


13

5 Support for units of work implementation/and review

work with teachers to ensure they are confident with teaching

the units of work and understand/are aware of the key

messages, concepts and timelines

6 Review of implementation process and student outcomes

teachers prepare feedback on units of work – Resource 5

provides a reflection template to assist teachers with this

present Workshop 3

add selected consumer and financial literacy units of work to

curriculum/faculty bank of units

7 Showcase student work/outcomes to the school and broader

community


14

Resource 2 – Parent/carer sample invitation letter

(Note: Adapt this sample letter to meet school context)

Dear parents and carers

Our school is about to introduce a consumer and financial literacy program.

This program uses a consumer and financial literacy context for real-world learning through the

Australian Curriculum learning areas of English, mathematics and science. ASIC’s MoneySmart

Teaching will assist young people to develop positive attitudes and behaviours in relation to money.

Through activities that have a real-life focus they will learn about the concepts of planning, spending,

saving, donating and investing.

Teachers will engage in professional learning and curriculum development activities in order to teach

this topic.

We would like to invite you to a short parent information session to introduce you to the importance of

consumer and financial literacy and the ASIC’s MoneySmart Teaching program. We would like to hear

your ideas on the issues and challenges that face your child/children in relation to consumer and

financial matters, so that we can work together to address them.

Some focus questions you could consider before the session:

What are the issues and challenges that you are confronted with as your children grow up and engage

with the world as consumers?

What do you wish your children knew more about or could do better in relation to their consumer

behaviour or money management?

What support can you offer classroom teachers in this area?

Date: ...............................................................................................

Time: ..............................................................................................

Venue: ............................................................................................

The meeting will take about one hour.

Please return the RSVP slip by (insert date)

Yours sincerely

Principal: .....................................................................................

Program Facilitator: ....................................................................

Date: ...........................................................................................

----------------------------------------------------------------- RSVP slip – Return this section

I, ................................................................................................................................. will be attending

the information session on (insert date) ......................................

Number attending ........................................................................

15


Resource 3 – School-based curriculum audit template

School-based curriculum audit templates aligned to the National Consumer and Financial Literacy Framework. What is being taught currently and how

can consumer and financial literacy be taught in the future using ASIC’s MoneySmart Teaching package?

Year 2

Knowledge and Understanding (Year 2) Are you teaching this now?

How and when?

How might you teach it in future?

Recognise Australian money includes notes and coins

Recognise that money is limited and comes from a variety of sources

Recognise that money can be saved to meet needs and wants

Explain how money is used to exchange goods and services

Identify and describe the differences between needs and wants

Competence (Year 2) Are you teaching this now?

How and when?


Use money to buy basic goods and services in ‘real-life’ contexts

Recognise common symbols and terms used on a variety of Australian notes

and coins

Identify consumer and financial matters that are part of daily life such as

earning money, spending, saving, paying bills, making donations

16


Compare the cost of similar items

Order spending preferences and explain reasons for their choices

Describe how advertising can influence consumer choices

Responsibility and Enterprise (Year 2) Are you teaching this now?

How and when?


Identify simple ways in which the consumer decisions of individuals may impact

on themselves, their families, the broader community and/or the environment

Identify and explain how peer pressure can affect what you buy

Apply consumer and financial knowledge and skills in relevant class and/or

school activities such as student investigations, charity fundraising, business

ventures and special events

Demonstrate enterprising behaviours through participation in relevant class

and/or school activities

Demonstrate an awareness of safe, ethical and responsible behaviour in online

and digital consumer and financial contexts

Demonstrate an awareness that family, community and socio-cultural values

and customs can influence consumer behaviour and financial decisions

17


Year 4


How and when?


Explain some different forms that ‘money’ can take

Identify different forms of income

Explain the role of work in society and distinguish between paid and unpaid work

Explain how saving money in a financial institution can earn interest

Explain why similar goods and services may vary in price

Identify, explain and prioritise different needs and wants

Recognise that different countries use different currencies


How and when?


Use money to buy basic goods and services in ‘real-life’ contexts

Create simple budgets for specific purposes

Accurately complete simple financial forms, including for online transactions

Classify and compare goods and services

Order and discuss reasons for spending preferences

18


Discuss some options for paying for goods and services such as cash, debit

card, credit card and direct debit

Identify key features of a range of advertisements


How and when?


Identify and describe the impact that the consumer decisions of individuals may

have on themselves, their families, the broader community and/or the

environment

Identify and explain how some influences, such as advertising and peer

pressure, can affect what you buy


school activities such as student investigations, charity fundraising, business

ventures and special events

Exercise enterprising behaviours through participation in relevant class and/or

school activities

Describe safe, ethical and responsible behaviour in online and digital consumer

and financial contexts

Explain the role played by the voluntary sector in the community to help those

in financial need



19


Year 6


How and when?


Explain how financial transactions can include using more than notes and coins

Describe how an individual can influence their income

Explore the value of unpaid work to the community

Recognise that families use household income to meet regular financial

commitments and immediate and future expenses

Analyse the value of a range of goods and services in relation to an identified

need

Identify and discuss some rights and responsibilities of consumers and

businesses

Explain how money can be borrowed to meet needs and wants and there may

be a cost involved

Recognise that the currencies of different countries have different values

relative to the Australian dollar

20



How and when?


Use a range of methods and tools to keep financial records in ‘real-life’

contexts

Create simple budgets for a range of purposes and explain the benefits of

saving for future needs and wants

Accurately complete and explain the purpose of financial forms, including for

online transactions

Evaluate the value of a range of goods and services in a variety of ‘real-life’

situations

Order and justify reasons for spending preferences

Discuss various payment options for purchasing goods and services such as

cash, debit card, credit card, direct debit and PayPal

Interpret information from a variety of invoice accounts including information

presented graphically such as in electricity accounts

Identify key features used in advertising, marketing and social media to

influence consumer decision-making

21



How and when?


Identify and describe the impact that the consumer decisions of individuals may

have on themselves, their families, the broader community and/or the

environment

Examine and discuss the external factors that influence consumer choices

Explain there are ethical considerations to some consumer and financial decisions


school activities such as student investigations, charity fundraising, product

design and development, business ventures and special events

Exercise a range of enterprising behaviours through participation in relevant

class and/or school activities

Practise safe, ethical and responsible behaviour in online and digital consumer


Explain the role played by the voluntary sector in the community to help those

in financial need



Recognise that satisfaction derived from spending money varies according to

the nature of the purchase, the context in which it is bought and an individual’s

personal circumstances and values

Recognise that matching household expenditure against income is important

22


Year 8


How and when?


Identify and explain the importance of tracking and verifying transactions and

keeping financial records to manage income and expenses

Identify and discuss casual employment opportunities that can earn income

Identify the role of casual employment in the community and some associated

rights and responsibilities

Explain why it is important to set and prioritise personal financial goals

Research, identify and discuss the rights and responsibilities of consumers in a

range of ‘real-life’ contexts

Research, identify and discuss the legal rights and responsibilities of business

regarding goods and services provided to consumers

Identify implications of ‘terms and conditions’ such as fees, penalties, interest

and warranties

Identify and discuss the different forms of ‘credit’ and costs involved

Analyse and explain the range of factors affecting consumer choices

Identify where to access reliable information and advice concerning the rights

and responsibilities of consumers and business

23


Identify the risks within the consumer and financial landscape such as scams,

identity theft, fraudulent transactions and ways of avoiding these


How and when?


Use a range of methods and tools to keep financial records in ‘real-life’ contexts

Create simple budgets and financial records to achieve specific financial goals

Compare income, spending commitments and life-styles at different stages of life

Accurately complete and explain the purpose of a range of financial forms,

including for online transactions

Determine the value of ‘deals’ when purchasing goods and services such as ‘buy

one, get one free’

Determine and compare the actual cost of using different ways of paying for

goods and services such as cash, credit, lay-by and loans

Justify the selection of a range of goods and services in a variety of ‘real-life’

contexts

Convert from one currency to another in ‘real-life’ contexts

Explore the pros and cons of a range of payment options for goods and services

such as: cash, debit card, credit card, direct debit, PayPal, BPay,

pre-pay options, phone and electronic funds transfer

24


Explain procedures for safe and secure online banking and shopping

Identify and take precautions to prevent identity theft and explain what to do if this

happens to them

Access and evaluate information on strategies to resolve consumer disputes

Identify and explain marketing strategies used in advertising and social media to

influence consumer decision-making


How and when?

How might you teach it in

future?

Explain how individual and collective consumer decisions may have an impact on the

broader community and/or the environment

Apply informed and assertive consumer decision-making in a range of ‘real-life’ contexts

Discuss the legal and ethical issues associated with advertising and providing goods and

services to consumers

Apply consumer and financial knowledge and skills in relevant class and/or school

activities such as student investigations, charity fundraising, product design and

development, business ventures and special events

Exercise a range of enterprising behaviours through participation in relevant class and/or

school activities

Practise safe, ethical and responsible behaviour in online and digital consumer and

financial contexts

25


Recognise the importance of planning for their financial futures and appreciate

that sacrificing current expenditure can bring long-term benefits

Recognise that people have different ways of living and expectations according

to their values and/or financial situation

Recognise that their ability to make informed decisions about personal finance

and financial products is strengthened by finding and evaluating relevant

information and accessing reliable advice

Explain the role of banks and other deposit-taking institutions (such as building

societies and credit unions) in providing financial products and services to

individual consumers and business

Explain the role played by governments and the voluntary sector in the

community to help those in financial need and explore the cost benefit to the

economy

Demonstrate awareness that family, community and socio-cultural values and

customs can influence consumer behaviour and financial decision-making

26


Year 10


How and when?


Identify and explain strategies to manage personal finances

Explain the different ways in which people are paid including wages, salaries,

commissions, self-employment and government benefits

Identify and explain common terminology and categories for deductions used

on pay slips

Explain the various factors that may impact on achieving personal financial goals

Discuss why some goods and services are provided by government for

community benefit and how these are funded

Explain how over-reliance on credit can impact on future choices

Analyse and explain the range of factors affecting consumer choices

Discuss and compare different sources of consumer and financial advice

Identify types of consumer and financial risks to individuals, families and the

broader community, and ways of managing them

27



How and when?


Use a range of methods and tools to keep financial records in ‘real-life’

contexts

Create simple budgets and financial records to achieve specific financial goals,

now and in the future

Investigate the financial decisions required at significant life-stage events

Accurately complete and explain the purpose of a range of financial forms,

including for online transactions

Discuss the differences between ‘good’ and ‘bad’ debt, including manageability

of debt and its long-term impact

Analyse relevant information to make informed choices when purchasing

goods and services and/or to resolve consumer choices

Compare overall ‘value’ of a range of goods and services using IT tools and

comparison websites as appropriate

Convert from one currency to another in ‘real-life’ contexts

Evaluate the range of payment options for goods and services such as: cash,

debit card, credit card, direct debit, PayPal, BPay, pre-pay options, phone and

electronic funds transfer across a variety of ‘real-life’ contexts

Explain procedures for safe and secure online banking and shopping

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Identify and take precautions to prevent identity theft and explain what to do if

this happens to them

Explain the procedures for resolving consumer disputes relating to a range of

goods and services

Evaluate marketing claims, for example in advertising and in social media, to

influence consumers to purchase a range of goods and services


How and when?


Research and identify the ethical and moral dimensions of consumer choices in

specific circumstances and the consequences for themselves, their families,

the broader community and/or the environment

Explore the economic cost of individual and collective consumer decisions on

the broader community and the environment

Apply informed and assertive consumer decision-making in a range of ‘real-life’

contexts

Research and discuss the legal and ethical rights and responsibilities of

business in advertising and providing goods and services to consumers


school activities such as student investigations, charity fundraising, product

design and development, business ventures and special events

Exercise a range of enterprising behaviours through participation in relevant

class and/or school activities

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Practise safe, ethical and responsible behaviour in online and digital consumer


Appreciate that there is often no one right answer in making financial decisions

because these depend on individual circumstances, preferences and values

Understand and explain the legal responsibilities of taking on debt, including

the consequences of not paying

Explain how, as financially active citizens, they fit into the broader economy

and society through:

generating income and paying taxes

saving

spending

donating

investing.

Explain the role of banks and other deposit-taking institutions (e.g. credit

unions, building societies) in collecting deposits, pooling savings and lending

them to individuals and business

Explain the role played by governments and the voluntary sector in the

community to help those in financial need and explore the cost benefit to the

economy

Demonstrate awareness that family and socio-cultural values and customs can

influence consumer behaviour and financial decisions

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Resource 4 – Preparing to implement a unit of work

Unit title:

Key implementation issues:

E.g. When will it be taught?

Opportunities for parental involvement:

E.g. class visits, homework activities

Resources required:

Differentiated learning requirements:

Other:

E.g. Cultural sensitivities

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Resource 5 – Reflecting on a unit of work

Unit of work reflections on (insert name of unit)

Issues to consider include:

1 Depth and rigour of student learning and engagement

2 How well the Australian Curriculum content descriptors were covered

3 How well the Capabilities, Proficiencies (mathematics only) and Cross-Curriculum Priorities

were addressed

4 How you differentiated activities to meet the learning needs of all students

5 How parents became engaged

6 Recommendations for enhancing the unit of work

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Resource 6 – Parent/carer sample information letter

(Note: Adapt for primary or secondary as required)

Dear parents/carers

During this term, the students in Year/Subject ………………………………………………

will be working on an exciting program called ASIC’s MoneySmart Teaching that will

teach them about consumer and financial matters. This initiative is led by the Australian

Securities and Investments Commission (ASIC). Information on the program is available

at moneysmart.gov.au under the teaching tab.

Many classes in our school will be working on units of work that create a real-world

learning context featuring planning, spending, saving, donating and investing.

Our Year ………unit is called ……………………………………………………………and we

will be looking at ……………………………………………………………………………………

There will be some home-based activities you may wish to share with your child.

Should you have any questions or suggestions about consumer and financial literacy

please call/email/make a time to visit the classroom.

……………………………………………………………

Class teacher

Date: ……………………………………………………


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Resource 7 – Adapting existing units

Unit of work: (insert title)

Australian Curriculum

For each unit record the Strand, Sub-strand and Content Descriptions that are addressed within the unit.

Strand: Strand: Strand:

Sub-strand: Sub-strand: Sub-strand:

Content Descriptions



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National Consumer and Financial Literacy Framework

Examine the appropriate Year level in the Framework.

For each of the three Dimensions: Knowledge and Understanding, Responsibility and Enterprise and Competence, select the Student Learnings that are

already addressed in the unit and the Student Learnings that could be added to enhance the consumer and financial literacy content.

Enhancing the Student Learnings will ensure the existing unit clearly addresses consumer and financial literacy and could be added to the faculty bank of

units for teacher use.

Dimension: Knowledge and Understanding Dimension: Competence Dimension: Responsibility and Enterprise

Already addressed

Student Learnings:

Student Learnings:

Student Learnings:

Can be added to the unit

Student Learnings:

Student Learnings:

Student Learnings:

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Resource 8 – Unit of work planner

Unit title (This could be in the form of a question.)

Year level

Duration of unit

Discipline/subject area

Unit description

(One or two paragraphs describing what the unit is about and focus of the

student learning.)

Enduring understandings/Deep learnings

(The knowledge, understandings, skills and behaviours, connected to the real

world, which the students will retain in the long term. Typically a unit of work

will contain two statements addressing the Australian Curriculum Content

Descriptions and two statements addressing the National Consumer and

Financial Literacy Student Learnings.)

Australian Curriculum National Consumer and Financial Literacy Framework

Strand

Sub-strand

Content Descriptions (Used for planning the content and assessment)

—

—

—

Dimension

Student Learnings

—

—

—

(The student learnings in the National Consumer and Financial Literacy Framework are

divided into and applicable over, bands covering two chronological years.)

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Australian Curriculum

General capabilities:

Cross-curriculum priorities:

Proficiency standard: (mathematics only)

Stages of pedagogical model

(Units of work are written to a variety

of models including the Five E's, the

Inquiry Model, and Backwards by

Design. ASIC’s MoneySmart

Teaching Units of Work have been

developed using a very basic three-

step model, which teachers may

choose to adapt to the model used at

their school.)

Sequenced teaching and learning activities

(These carefully sequenced activities are developed to

meet the requirements of the content descriptions and

student learnings. The activities are the direct interface of

activity between teachers and students and are aligned to

the stages of the curriculum model.)

Assessment tasks

(The assessment tasks provide

developmental information to

both teachers and students.)

Resources

(Print and digital)

1 Introducing

(Sets the context and the purpose for

the unit of work)

Activity 1

Activity 2

Activity 3

(Activities should be aligned to the stage of the

pedagogical model and assessment tasks. The number

of activities per stage will vary from unit to unit.)

Diagnostic

(This assessment may be either

formal or informal and provides

the teacher with information on

what the students know and

understand. It provides an

opportunity for teachers to

address misunderstandings.)

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2 Developing

(Student acquisition and

consolidation of knowledge,

understandings and skills)

Activity 4

Activity 5

Activity 6

Activity 7

Activity 8

Activity 9

Formative

(This assessment, at least some

of which will be formal, provides

feedback to students on their

progress.)

3 Culminating

(Students produce evidence of their

learning throughout the unit and

show how the learning connects to

the real world.)

Activity 10

Activity 11

Activity 12

Summative

(This formal assessment provides

a final appraisal of student work.)

Diversity of learners

(The Australian Curriculum is based on the assumptions that each student can learn and that the needs of every student are important. These needs are shaped by

individual learning histories and abilities as well as personal, cultural and language backgrounds and socio-economic factors.

Teachers may adapt or plan additional learning activities depending on the multiple, diverse and changing needs of their students.)

Connection to year level Achievement Standards

This unit of work contributes to the bolded sections in the Achievement Standards in (insert key learning area) for Year (insert year level)

(Advice from ACARA is that the relevant complete Achievement Standard for the appropriate discipline and year level is inserted and the statements explicitly addressed

are made bold.)

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