This April marks Financial Literacy Month, and not for profit Financial Basics Foundation (FBF) is using the opportunity to raise awareness of the inconsistent financial education provided in Australian schools and the risk this poses of leaving a generation of young people financially exposed in a rapidly evolving financial world.

Throughout Financial Literacy Month, FBF is urging policymakers, educators, and industry leaders to work together to ensure every young Australian has access to high-quality financial education and would like to see a national commitment to:

· a government led, coordinated approach to a National Financial Capability Strategy

· elevating financial literacy as a core, stand-alone compulsory learning area of the Australian Curriculum

· delivering financial literacy education as part of the personal development and wellbeing curriculum, rather than as a topic within mathematics.

· ensuring consistent, equitable delivery across all schools nationwide

· embedding age appropriate practical, real-world content that supports long term economic and social wellbeing

· supporting teachers with training and evidence-based resources

Recent news from across the globe has highlighted that governments are taking action to embed financial education in curricula as it becomes increasingly apparent that financial literacy is a core life skill.

England has announced plans to make financial literacy compulsory in schools from 2028, recognising the growing need for young people to navigate financial decisions with confidence. All students across primary and secondary education will be taught about budgeting, compound interest, money management and mortgages.

New Zealand has taken a leading position in 2026 by embedding financial capability across its national curriculum. Rather than treating it as an optional subject, New Zealand now recognises financial literacy as a universal, foundational skill taught through a structured, cross-disciplinary approach focused on real-world application and financial wellbeing.

These reforms were driven by concerns that many young people were leaving school without the basic knowledge needed to manage money effectively, avoid debt, or plan for their future.

This concern mirrors broader findings across Australia about financial literacy as a 2025 report by Frontier Economics 1 shows. It found that around 37% of adult Australian men and around 52% of adult women do not understand key basic financial literacy concepts such as interest rates, inflation and risk diversification.

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The 2024 HILDA report highlighted that among those aged 15 – 19, mean financial literacy rates are 44% for males and 24% for females, a 20-percentage-point gap2.

Katrina Samios, CEO, Financial Basics Foundation said: “Financial Literacy is a key life skill for young people to navigate adult life, that can no longer be treated as an opt in subject. Young people are entering a highly complex financial landscape with cost-of-living pressure, digital financial products and are starting life ill equipped to manage it. Around the world, we are seeing governments step up and treat financial capability as a core life skill. If we fail to follow suit, we will see a generation of Australians unprepared for the financial realities of adult life.”

Despite growing concerns about financial literacy among young Australians, there is no single, fully mandated national curriculum strand for personal finance across all year levels. Some Australian curricula (e.g. mathematics or humanities and social sciences) touch on financial concepts, but a unified, mandatory cross-curricular approach is not uniformly enacted nationwide. Australia’s current approach to teaching the subject remains inconsistent, with financial education often dependent on individual schools, teachers, or external programs rather than embedded systematically across the national curriculum.

Samios continued: “Without a coordinated national strategy, too many young Australians are missing out on the knowledge and skills they need to make informed financial decisions. We have seen little change in the past five years and still note that financial literacy rates in young people are not improving with girls disproportionately affected. Research consistently shows that early financial education leads to better long-term outcomes, including improved saving habits, reduced debt levels, and greater financial resilience”.

Through its free financial literacy resources and education programs, Financial Basics Foundation is committed to equipping young Australians with the knowledge and skills they need to navigate financial decisions confidently and build strong, long-term financial wellbeing.

About the Financial Basics Foundation

For over two decades, the Financial Basics Foundation, has been at the forefront of promoting financial capability among young Australians.

Financial Basics Foundation provides resources that have been used in over 2400 high schools across the country and each year, more than 30,000 students play its online financial simulation money game (ESSI Money) which teaches teenagers how to earn, save, spend, and invest wisely.

For further information on the research and resources provided by the Financial Basics Foundation, please visit https://financialbasics.org.au/

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