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From the Head of Senior School (Issue 9 2017)

Written on the 22 June 2017

Fifteen year old Australian teenagers have ranked equal 5th on a global scale of financial literacy. This is the finding from the latest report of the Australian Council for Educational Research (ACER) and is based on a study of the OECD Program for International Student Assessment (PISA).

Sacred Heart College participated in this study along with 53,000 students from 15 countries, 14,530 of whom were from Australia.

Some of the interesting results were:

  • 52% of 15 year olds said they earn money outside the home
  • 37% are selling things online or in markets of some kind
  • 80% of students have bank accounts
  • 90% of students are looking at how they can save money.

When asked "if you really wanted an item, how would you go about it?" about 67% said they would save for it. The higher the socio-economic background of the student, the more likely they were to save. The lower the socio-economic background, the more likely they would find the money from other sources, such as drawing on money that had been put aside for a different purpose.

Professor Geoff Masters (ACER Chief Executive) says that "the general observation is that financial literacy is a key life skill and is likely to be increasingly important".

Sacred Heart College is well aware of the importance of financial literacy and this year provided a new Year 10 elective subject called My Money My Life. We have provided six classes this year with 48% of Year 10 students studying the course in either semester 1 or semester 2.

It is a timely reminder to families that subject selections will occur in Term 3. Many opportunities will be provided for students to make informed decisions concerning their study path at Sacred Heart College. The first of these opportunities is the Sacred Heart College Careers Expo which will be held in the Br Joseph McAteer Centre on Thursday 6 July from 6.00pm - 7.30pm. I look forward to seeing you there.

Gail Morgan
Head of Senior School



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