FinEd award launch

April 15, 2017

THE recently launched first National Financial Education Innovation Awards aims to highlight and celebrate the achievements of teachers and primary schools in Fiji that have actively implemented the FinEd curricula and who have taken the initiative to develop projects that demonstrate real-life applications of good money practices.

A media statement from the Pacific Financial Inclusion Programme said the awards were announced by the Reserve Bank of Fiji.

According to PFIP FinEd in schools is globally recognised as a best practice model to inculcate responsible financial behaviour in children from an early age, of increased importance in the modern money economy.

It said supported by the Australian Government, FinEd was an initiative of the PFIP in partnership with RBF and the Ministry of Education.

“Thanks to the tireless efforts of Fiji’s school teachers, the expected outcome is to build a generation of young women and men leaving school with the requisite financial knowledge, skills and confidence to be able to make responsible financial decisions which are appropriate to their circumstances, whilst both making a living in the modern money economy and contributing to community and national growth,” said Abigail Chang, PFIP financial education specialist.

She said since the roll out of FinEd Fiji, there had been ongoing teacher training at the district and school level, with a number of exciting implementation experiences.

Schools can submit their entries under two categories:

1. FinEd Champion School Award for Innovation — schools that have taught FinEd across all year levels within primary school and that have taken a whole-school approach to a FinEd-related project, which involves practically applying the FinEd learning.

2. FinEd Champion Teacher Award for Innovation — teachers who are teaching FinEd at the primary school level in 2017, and who have introduced an innovative project to reinforce and supplement FinEd classroom learning.

The project must demonstrate the practical application of a minimum of five FinEd learning outcomes, within the teacher’s year level and must also encourage students to develop a life-long interest in sound personal financial management. Winning primary schools will receive $2000 cash plus a trophy and winning primary school teachers will receive $1000 cash with a trophy.

Judging criteria includes whether the FinEd projects undertaken by students have had an impact on the lives of the students, their families or community in the areas of saving, spending or investing and whether the financial behaviours of the students has been impacted.

Applications close on May 19 followed by an independent verification process before the winners are announced.

According to the PFIP, FinEd was fully implemented nationwide in April 2013, and it integrates learning around personal money management and investment.

FinEd curricula was incorporated into compulsory (English, mathematics and social science) subjects across Years 1 to 12 with all learning being built around the topics of save, spend wisely and share.

It said Fiji was seen as a role model for FinEd in the region, recently recognised with a global award for the Asia and Pacific region during the 2016 Global Inclusion Awards.

This award was given by Child Youth and Finance International (CYFI) to Fiji to recognise its efforts in promoting financial literacy among youth and children.