The Retirement Commission is leading the project aimed at developing a framework for schools to assist in teaching students money skills so that when they leave school they can make informed financial decisions.
Retirement Commissioner Diana Crossan says the significant contribution from the country’s banks means the trial can proceed more quickly than expected.
This group contains a high proportion of young adults who will be starting significant involvement in commercial activities – accommodation rental, student loans, banking transactions including credit cards, telecommunication contracts and equipment purchases, to name the major ones. Poor financial decisions at this time could lead to substantial financial burdens in the future.
Improving the financial literacy of tertiary students and the workforce through industry training will contribute to productivity through: