Banqer

ULearn 2015 | Financial Education in the class

Welcome

Who am I?

Kendall Flutey - ex-accountant, web developer, entrepreneur in edtech.

Micah Hocquard - teacher, #FinLit facilitator, father, and husband.

Rationale and Plan

Rationale - To support teachers and educators in their delivery of #FinLit

Plan for the session

  • Discuss why teaching #FinLit is so important
  • It’s important. Well what’s going wrong?
  • Financial capability progressions and the NZC
  • Have a look at Banqer and how it can support #FinLit
  • Tips around how add #FinLit into any classroom programme

What is Financial Literacy?

OECD/PISA - “the knowledge and understanding of financial concepts and risks, and the skills, motivation and confidence to apply such knowledge and understanding in order to make effective decisions across a range of financial contexts, to improve the financial well-being of individuals and society, and to enable participation in economic life.”

World Economic Forum: The “ability to understand and apply conceptual and numerical aspects of finance in practice”

Banqer - “Learning positive financial decision making skills in a fun, realistic and engaging manner”

Interesting facts

  • NZ 15 year olds ranked 5th out of 18 in PISA Financial Literacy 2014 study (520 points), above the average for 13 OECD countries (500 points).
  • Māori students (466 points) and Pasifika students (424 points) achieved lower financial literacy scores than the average for New Zealand.
  • Having a bank account is associated with a higher score in financial literacy in many countries and economies. On average, students in the 13 participating OECD countries and economies who hold a bank account score 33 points higher than students who do not. This difference is largest in New Zealand (106 score points).
  • 50% of teachers see banks as a major source of financial learning for secondary students, whereas only 11% of students reported that they had learned ‘a lot’ from banks.
  • Most New Zealand Primary Schools see bank visits as their obligation to teaching financial capabilities fulfilled.

Why is Financial Literacy Important?

“Improving financial literacy has become an essential means towards greater economic, social and financial inclusion and an integral part of financial reform to prevent future crises” Secretary General Angel Gurria - OECD

It helps individuals to:

  • Make sound choices to protect themselves
  • Fruitfully participate in financial and economic activities
  • Promote economic recovery and growth
  • Increase competition and market efficiency
  • Support small and medium enterprises
  • Boost the creation of new jobs
  • Decrease poverty

What’s going wrong in #FinLit

  • What do we teach?
  • How do we teach it?
  • Where do we find the time?

Financial Capability Progressions

The Financial Capability Progressions give teachers and students objectives that act as pathways to help guide learning. It also makes designing learning activities more relevant and realistic.

We use these to help me create ways to integrate financial concepts into my lessons.

Our journey

Micah has been doing #FinLit for about 9 years. Started in a Yr 3, 4 and 5 composite class.

Money for completing tasks

Class companies

Integrate debt, budgeting, expenses, savings into almost every unit of work

Manual transactions, moved to excel, now use Banqer

Banqer

Banqer adds another dimension to Financial Literacy. It creates hands on learning that is engaging, relevant and most of all fun!

We will now have a run through of the basics within the site.

Banqer

We will now go a little bit deeper into how Banqer can help to support #FinLit in your classes.

Companies - not a module but super handy

Tax - introduce students to tax

Real Estate - students can purchase houses, pay a mortgage and earn rent

Insurance - students can insure their properties, teachers can create havoc

Current programmes

The power of collaborative planning - share current units or programmes in your classes and we can discuss as a group how to incorporate financial literacy.

Arcade Games - ancient games, recycling, Caine’s Arcade, budgeting, tracking expenses, prize at the end

https://www.youtube.com/watch?v=faIFNkdq96U

What does Jolene do?

http://www.radionz.co.nz/audio/player/201755451

Questions?

Want to know more?

Have questions about #FinLit in NZ?

Have questions about Banqer?

Thanks!

Kendall @kendallflutey kendall@banqer.co

Banqer @banqer_app hello@banqer.co

ULearn 2015 - Google Slides