These days I have blurry memories of my time at primary school in Auckland in the late 70s, early 80s, but I can very clearly remember my ASB school banking book. ASB began school banking in 1972 as a way for children to learn about saving and banks, and I guess it was also with a view to retaining us as customers when we were in the workforce and had real amounts of money. 

On banking days, I can remember bringing my 50 cents to school to make the deposit. My book was stamp marked with the date and the deposit and new balance amounts written in. And goodness, did I love watching the balance increase. I’m pretty sure at one point I had an ASB Kashin elephant money box as well. I’m sure this is ringing a bell with some of you.  

This is far from what the Government proposed this week - compulsory financial education for students up to year 10, starting in 2026. But, encouraged by my parents, it was at primary school that my understanding of savings and budgeting began - because it was easy and available. While I was budgeting to add to my rubber and sticker collections the real benefit was that I became a good saver, and it has stuck with me for life.  As has my now worthless rubber collection - currently in a box under the stairs.

I know teachers are inundated with curriculum changes and already have a lot to deal with in the classroom - but there must be room to grow financial literacy beyond what’s in the maths curriculum. Concepts like saving, budgeting, debt and investment.  

Of all the things students learn to prepare them for life after school, surely this is among the most useful and important.  

Yes, this is something parents should be teaching their children, but financial knowledge is not equal amongst adults. Some parents don’t like talking about money. Some assume their children will pick up good money management habits through osmosis. Some prefer to leave it to an expert to explain along the way. And many children just don’t listen to their parents.  

When my son got his first part-time job, I suggested he read Get Started Investing by the guys behind the Equity Mates podcast. It was perfect for a teen boy. But no, the idea of having his own money and the freedom to spend it how he liked was way too exciting. OK - so I was a bit optimistic, but at least I know that in theory he understands the idea of compound interest.  

I'm enthusiastic about my children becoming financially independent - as quickly as possible - so the more information they have, from as many sources as possible, the better prepared they are to make good decisions.  

As an adult I’m still learning how to manage my money better. So, let’s get them started young. We don’t know what the curriculum requirements will be at this stage, but let’s give our children the basics and the best chance to be good with money for life. 

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