StartSmart is a Commonwealth Bank Foundation initiative that offers school kids a guided approach to learning about money in the classroom. The program is fully funded by the Foundation and has been developed in consultation with education experts. It's also aligned with the school curricula.
The Foundation began StartSmart for Secondary Schools in 2007 to help achieve its objective of improving the financial skills of young Australians. Given the success of this program, StartSmart Primary launched in 2010.
StartSmart uses the talents of world-class facilitators who visit primary and secondary schools to conduct a series of dynamic, interactive and engaging workshops. The programs are geared to the learning stages of each age group.
With the primary kids, the facilitators use interactive theatre to build money management skills and behaviours. Skill-building scenarios include managing their pocket money, the importance of saving and budgeting, understanding goods and services, understanding the difference between a need and a want, and how to get money through work and earning interest.
For secondary students, the program covers five, more advanced modules: SmartEarning, SmartSaving, SmartSpending, SmartInvesting and SmartFutures.
That StartSmart has been offered to secondary schools since 2007 and was extended to primary schools in 2010.
That StartSmart is provided to schools for free.
- Learning about the Progressive Tax System, Tax File numbers and returns
- Understanding the importance of Superannuation
- Selecting the right bank account and appreciating the value of savings plans
- Developing budgeting strategies to grow savings
- Being savvy with purchases, including mobile phone plans and cars
- Managing credit cards
- All about investing
- Understanding the importance of banks, and about credit and key cards
- Appreciating the value of saving regularly and earning interest
- The benefits of budgeting and having savings goals and strategies
- Exploring different ways to earn income
- An introduction to reading financial documents like receipts
- Comparing 'additional' costs and benefits of goods
- Recognising the essential features of currency
- Understanding why saving is important and the value of bank accounts
- Learning about electronic funds and transactions
- Learning the importance of saving, budgeting and prioritising spending
- Exploring ways to earn income
- Understanding smart spending techniques
- Learning why banks are safe for money
- Understanding goods and services
- Learning the difference between wants and needs
- Understanding the principle of working to earn money
- Understanding simple transactions
- Recognising the difference between a credit and key card