Be MoneySmart, a free online course for young people is available through the Australian Securities & Investment Commission (ASIC).
Be MoneySmart is designed for VET students (including trainees and apprentices) and senior high school students. The aim of Be MoneySmart is to educate trainees and apprentices, as well as any young person looking to start a business, on the importance of smart financial decisions and record keeping.
The Be MoneySmart course is delivered in five modules–savings, budgeting and spending, personal tax, superannuation, debt management and insurance.
The savings, budgeting and spending module focuses on having young people learn how to establish saving goals and creating a budget and a savings plan. The personal tax module focuses on having students establish a system for storing receipts and learning how to prepare a tax return. The superannuation module focuses on having students compare super funds and learning how to keep track of their super. The debt management module focuses on having students compare debt products and learning how to manage credit cards and what to do if debt becomes a problem for them. The insurance module focuses on having the students learn about different types of insurance and how to choose the right type of insurance and level of cover.
All five of the modules support one hour of online activity and two hours of offline study, featuring real life examples and video case studies of young people from a range of occupations. All five of the modules also come with a student workbook.
The Be MoneySmart course can be completed as part of the Certificate III in Financial Services or as part of a general money management skills program.
Trainees, apprentices and young people can start the Be MoneySmart course on the ASIC website at any time.
Image via Pixabay