Student sample for assessment
Written by a Year 6 student in Brunswick, Victoria, Australia.
Dear Members of the Review Committee, I am writing to submit my response to your review of compulsory school subjects. I believe that financial literacy should be a compulsory subject in all Australian schools, starting in Year 5. This change would prepare young people to make better financial decisions and reduce problems related to money in their adult lives. Financial literacy teaches students how to manage money, understand interest, and avoid debt. Currently, many young people leave school without these skills. Adults often struggle with mortgages, credit cards, and saving because they were never taught these concepts. If schools taught financial literacy, this problem could be prevented. Students would graduate with knowledge that affects them throughout their entire lives. Implementing financial literacy would not require significant resources. It could be taught within existing time allocated to life skills or by trained teachers. Schools in other countries, such as Singapore and parts of Canada, already teach financial literacy as a compulsory subject and report positive results. These programs are feasible and cost-effective. If international schools can implement this, Australian schools can too. Some might argue that the curriculum is already full. However, financial literacy is more immediately useful to young people than some current subjects. Learning to budget and understand interest rates will benefit every student, regardless of their career path. This knowledge is practical, relevant, and essential. I urge you to make financial literacy a compulsory subject in Australian schools. The benefits to young people and society are clear and substantial. The implementation is feasible. Thank you for considering this submission. Yours respectfully, A Year 6 student