1 00:00:00,120 --> 00:00:01,960 Speaker 1: Very good news that our schools are going to be 2 00:00:02,000 --> 00:00:05,120 Speaker 1: concentrating more on financial literacy. Years one through team will 3 00:00:05,120 --> 00:00:08,200 Speaker 1: study the likes of income, spending, savings, interest, tax, insurance 4 00:00:08,600 --> 00:00:12,840 Speaker 1: in this refreshed social science program. Now financial organizations, banks 5 00:00:12,840 --> 00:00:15,280 Speaker 1: and charity is going to be taking part and Banker 6 00:00:15,320 --> 00:00:17,720 Speaker 1: a part of that. They're a CEO, Simon Brown is 7 00:00:17,760 --> 00:00:21,000 Speaker 1: with a Simon, very good morning to you. If I 8 00:00:21,120 --> 00:00:23,160 Speaker 1: used your name correctly, B A n Q, you are 9 00:00:23,280 --> 00:00:26,480 Speaker 1: I just you know spelling you are banker? 10 00:00:26,520 --> 00:00:26,840 Speaker 2: Got on? 11 00:00:27,080 --> 00:00:29,800 Speaker 1: Okay, good, got on glad. I probably shouldn't have highlighted 12 00:00:29,840 --> 00:00:31,840 Speaker 1: it because I come across as more cool if I'm 13 00:00:31,840 --> 00:00:33,519 Speaker 1: going to write first time, it's this win win. I mean, 14 00:00:33,560 --> 00:00:34,760 Speaker 1: this is a win win, isn't it? 15 00:00:36,000 --> 00:00:39,959 Speaker 2: Absolutely? I think a lot of people appreciate the importance 16 00:00:40,000 --> 00:00:42,080 Speaker 2: and value of this. This is something that we hear 17 00:00:42,120 --> 00:00:44,600 Speaker 2: about a lot in terms of people thinking it's a 18 00:00:44,680 --> 00:00:46,479 Speaker 2: no brainer. So to say it to come to fruition, 19 00:00:46,560 --> 00:00:48,280 Speaker 2: I think is a really exciting step. 20 00:00:48,640 --> 00:00:51,639 Speaker 1: What's your assessment if you were to be asked of 21 00:00:51,680 --> 00:00:54,320 Speaker 1: the literacy level of most kits, what would your guests 22 00:00:54,400 --> 00:00:57,000 Speaker 1: be currently varied? 23 00:00:57,400 --> 00:01:00,640 Speaker 2: And then when you look at international research, we stack up, 24 00:01:00,680 --> 00:01:03,440 Speaker 2: not too badly, But I think in my mind it 25 00:01:03,520 --> 00:01:07,280 Speaker 2: is that variation between students. When we're in schools, working 26 00:01:07,280 --> 00:01:10,120 Speaker 2: with schools, we see a real wide variety of delivery 27 00:01:10,120 --> 00:01:13,280 Speaker 2: of financial education. Some schools do a great job delivererance 28 00:01:13,280 --> 00:01:16,440 Speaker 2: to all students. Some schools deliver it to a subject 29 00:01:16,480 --> 00:01:19,120 Speaker 2: of students, maybe common students, and then in other students 30 00:01:19,280 --> 00:01:23,240 Speaker 2: in other schools it's just lacking totally, which really leads to. 31 00:01:24,680 --> 00:01:26,120 Speaker 1: Is it fair to suggest a lot of it comes 32 00:01:26,120 --> 00:01:27,840 Speaker 1: from home? In other words, Mum and Dad know what 33 00:01:27,840 --> 00:01:28,240 Speaker 1: they're doing. 34 00:01:28,319 --> 00:01:32,399 Speaker 2: You might too, Yeah, I think so, especially if it's 35 00:01:32,400 --> 00:01:35,440 Speaker 2: not delivered in school, and increasingly so social media influencers 36 00:01:35,480 --> 00:01:38,679 Speaker 2: as well, which isn't necessarily a good thing. And I 37 00:01:38,680 --> 00:01:41,520 Speaker 2: think as a result of a lot of students preparedness 38 00:01:41,560 --> 00:01:43,560 Speaker 2: for the financial world is really left a chance at 39 00:01:43,560 --> 00:01:43,920 Speaker 2: the moment. 40 00:01:44,280 --> 00:01:46,039 Speaker 1: What do you reckon the value of all the things 41 00:01:46,040 --> 00:01:49,200 Speaker 1: you learn at school? What do you reckon the value 42 00:01:49,240 --> 00:01:51,560 Speaker 1: of this If you can enter the world having a 43 00:01:52,040 --> 00:01:54,760 Speaker 1: basic understanding of what's good, what's not, how it pays, 44 00:01:54,760 --> 00:01:57,520 Speaker 1: et cetera, how valuable is that in life? 45 00:01:58,760 --> 00:02:01,280 Speaker 2: I'm very biased. This is my day and day out, 46 00:02:01,320 --> 00:02:04,480 Speaker 2: but I think it's massively valuable. I put this right 47 00:02:04,560 --> 00:02:06,760 Speaker 2: up there to be honest. When you think about the 48 00:02:06,840 --> 00:02:09,560 Speaker 2: things that students can be assured to interact with and 49 00:02:10,000 --> 00:02:12,640 Speaker 2: when they leave real well, when they leave school, money 50 00:02:12,720 --> 00:02:15,280 Speaker 2: is one of the only assured things. Whether you're fortunate 51 00:02:15,400 --> 00:02:17,799 Speaker 2: enough to have a lot or maybe not so much, 52 00:02:17,919 --> 00:02:19,760 Speaker 2: you're going to have to interact with money. So being 53 00:02:19,800 --> 00:02:22,160 Speaker 2: prepared to do so, I think is really important. 54 00:02:22,280 --> 00:02:24,480 Speaker 1: Yeah, from a subject point of view, what do you reckon? 55 00:02:24,520 --> 00:02:26,160 Speaker 1: It is science or an art? 56 00:02:28,080 --> 00:02:29,480 Speaker 2: Sorry, it's cut out? 57 00:02:29,680 --> 00:02:31,160 Speaker 1: Is it a science or an art? You're with us? 58 00:02:32,440 --> 00:02:33,640 Speaker 2: Sorry, there's a bit of a cut out there. I 59 00:02:33,680 --> 00:02:34,480 Speaker 2: lost that last question. 60 00:02:34,520 --> 00:02:36,040 Speaker 1: Sorry, Now is it a science or an art? The 61 00:02:36,120 --> 00:02:37,200 Speaker 1: understanding of finance? 62 00:02:38,440 --> 00:02:40,480 Speaker 2: I think it's a science. I think when you look 63 00:02:40,480 --> 00:02:43,040 Speaker 2: at it, most of it is clearly black and white 64 00:02:43,040 --> 00:02:47,960 Speaker 2: when you understand the definitions and understand how financial concept works. 65 00:02:48,560 --> 00:02:52,280 Speaker 2: At the end of the day, human emotions do drive 66 00:02:52,320 --> 00:02:55,360 Speaker 2: a degree of financial behavior, though, so I guess from 67 00:02:55,400 --> 00:02:56,960 Speaker 2: that perspective it it's a little bit of an art. 68 00:02:57,600 --> 00:02:59,440 Speaker 1: I'd extend to see if says one through ten. I 69 00:02:59,480 --> 00:03:01,920 Speaker 1: know they do the stuff you know eleven, twelve, and thirteen, 70 00:03:01,960 --> 00:03:03,519 Speaker 1: But i'd have it the whole way through. 71 00:03:05,840 --> 00:03:07,600 Speaker 2: Yeah, yeah. My understanding is there is going to be 72 00:03:07,600 --> 00:03:09,800 Speaker 2: more to come in the senior school, but there's a 73 00:03:09,840 --> 00:03:13,800 Speaker 2: real focus on years one through ten given that's when 74 00:03:14,320 --> 00:03:17,320 Speaker 2: students will be doing social sciences as a compulsory subject. 75 00:03:17,480 --> 00:03:19,200 Speaker 1: Exactly get them up to speed to start with, all right, 76 00:03:19,240 --> 00:03:22,640 Speaker 1: Simon appreciated Simon Brown, Who's the bank of CEO. For 77 00:03:22,760 --> 00:03:26,120 Speaker 1: more from the Mic Asking Breakfast, listen live to news talks. 78 00:03:26,120 --> 00:03:29,320 Speaker 1: It'd be from six am weekdays, or follow the podcast 79 00:03:29,360 --> 00:03:30,240 Speaker 1: on iHeartRadio.