There are better ways to teach financial literacy than through school banking schemes.
Learning about real-life money decisions from a young age helps kids learn maths and improves their financial literacy.
Around a fifth of 15-year-olds in Australia do not have basic financial literacy.
The government has heavily invested in initiatives intended to help children understand finance. But should this be taught by school teachers instead who are sensitive to kid's backgrounds?
Three out of 10 students borrow the maximum amount available to them as loans. How well do students understand the long-term costs of borrowing?