The Government has announced that financial literacy will become a core component of the school curriculum for students in Years 1 to 10. The changes are part of a broader curriculum refresh aimed at preparing students with real-world skills, with the new content available from 2026 and compulsory by 2027.
What if every child left school knowing how to budget, invest, and avoid debt? That’s the question behind a sweeping initiative that seeks to equip young New Zealanders with the tools to navigate an increasingly complex financial landscape.
Addressing a National Shortfall
The push for financial literacy stems from growing concern over the number of young people leaving school without basic financial skills. Finance Minister Nicola Willis pointed to this gap, noting that a lack of financial knowledge can lead to “really difficult levels of debt” and poor financial decision-making in early adulthood.
According to early research from the Retirement Commission, only about a quarter of students currently receive any form of financial education, and even then, it is often not aligned with the national curriculum. The result is a generation of school leavers ill-prepared to manage money, make informed choices about loans, or spot financial scams.
A Phased Rollout
Under the Government’s plan, financial education will be introduced in a staged approach. A draft of the updated social sciences and Te Ao Māori curricula will be released for feedback in Term 4 of 2025. Schools and kura will then have access to the new content in 2026, ahead of its mandatory implementation the following year.
The curriculum will be embedded within the social sciences learning area and supported by resources developed in collaboration with financial institutions, banks, and non-profit organisations. These include Sorted in Schools, Banqer, MoneyTime, and the Young Enterprise Trust, among others.
Learning Through the Years
For younger students in Years 1–6, the curriculum will introduce foundational concepts such as needs versus wants, how banks work, and the importance of saving. Practical, age-appropriate activities like play banks and saving challenges will bring these ideas to life.
Students in Years 7–10 will engage with more advanced topics, including budgeting, taxes, insurance, and investment. Simulations of adult financial scenarios — such as flatting, part-time work, and online shopping — will help bridge the gap between theory and practice.
For senior secondary students in Years 11–13, financial literacy will remain optional but strongly encouraged. The Ministry of Education, in partnership with the Retirement Commission, will provide guidance and resources to schools wishing to extend financial education beyond Year 10.
Curriculum Integration and Cultural Context
Education Minister Erica Stanford emphasised that the new curriculum is designed to be integrated rather than added on. Financial literacy concepts will complement learning in social sciences, mathematics, and Te Ao Māori, encouraging a holistic approach to money management.
Importantly, the curriculum refresh acknowledges the need for culturally inclusive content. This includes recognising traditional Māori perspectives on resource sharing and financial decision-making within a whānau and hapū context.
Support for Educators
To ensure a smooth transition, the Ministry of Education and the Retirement Commission are collaborating to develop a comprehensive map of curriculum-aligned resources. This initiative will help schools choose appropriate content and reduce the burden on educators by embedding financial literacy within existing learning areas.
Teacher Joe Bibby welcomed the initiative, noting the uneven financial knowledge among students. “They know what they know,” he said. “Some of them arrive and they’ve got everything because they’ve got it from home… Loads of them have got nothing. How can we expect them to have knowledge that we haven’t taught them?”
Potential and Pitfalls
While there is broad public and political support — the policy was a campaign commitment from both National and Labour — some concerns remain. Educators and principals have raised questions about curriculum overcrowding and how schools will balance existing subjects with new requirements.
Principals Federation spokesperson Heidi Hayward called for clearer guidance, noting that the practical impact would depend on the final curriculum detail and the resources available. “There’s a real nuance to what you would teach and how,” she said, especially given the economic disparities among students’ home environments.
Looking to the Future
Despite the challenges, the Government remains optimistic. Minister Stanford envisions a generation of financially capable citizens, confidently managing their personal finances and contributing to a more informed, resilient economy.
The final curriculum draft will be open for feedback in late 2025. Until then, educators, parents, and students are being encouraged to engage with the process and help shape a program that could redefine the future of financial literacy in New Zealand.
“Financial literacy can set young Kiwis up to be savvy consumers,” said Commerce and Consumer Affairs Minister Scott Simpson. “Whether it’s knowing how to invest wisely, choose the best loan at a bank, or even identify a scam.”