Money Mentors was established to guide the inner west communities of Melbourne to make confident and knowledgeable money decisions now and for their financial future.
The Inner West Community Foundation and Victoria University collaborated to create a financial literacy program that clarifies existing knowledge and empower participants with life long financial literacy, which can be scaffolded as more complex financial decisions are encountered in day to day life.
Initially the program has focused on high school students. Going forward, the core of this program will be adjusted to reflect and help other sections of our community.
Mount Alexander College, Flemington was the first to invite the Money Mentors program into the classroom, as lead teacher Justine Johnston, recognised the need for more real world financial literacy applications for students.
The program was delivered to middle school students participating in core maths subjects over an 8-week period. “The Money Mentors program provides valuable tools providing everyday financial literacy concepts that will positively students lives as they head to adulthood,” said Ms Johnston.
The Money Mentor program consists of 8 modules, from illuminating basic financial literacy terminology to engaging students to develop their own budgets.
The program uses a variety of educational tools to embed this knowledge whilst also making it fun for students to be involved through group activities, quizzes, videos, word finds and general whiteboard discussions.
The students were able to convert the knowledge learnt into their lives when learning how to manage a budget. This has encouraged the secondary school to incorporate more real world financial examples in their curriculum.
Money Mentors is currently exploring partnerships to continue improve financial literacy for communities in the inner west. Schools, community groups and businesses are invited to Program Manager Angela Martin at angela@moneymentor.org.au.
For more information visit: www.iwcf.com.au/money-mentor-program.
