It’s no secret that I take children’s financial literacy very seriously. It’s always top of mind for me and everyone at Stephan Independent Advisory. If I’m not interviewing my nephew or niece about money concepts, or travelling to PNG to work with CUFA, then I’m most likely steering the conversation towards financial literacy on It’s Never About Money.
This week I had the great pleasure of talking to Simon Brown about this very topic. Simon is co-CEO of Banqer, a simulated online banking for your classroom. It provides a hands-on environment for kids to get curious, creative, and ultimately, confident with money. The platform has reached over half a million school students across Australasia. In his role, Simon combines his deep passion for finance, technology, and education to empower teachers and elevate students’ financial literacy and overall well-being.
Our conversation explored the challenges of making financial concepts engaging and accessible in the digital age. Banqer addresses this by providing practical and relevant financial education through simulations. Students from primary to senior secondary school manage mock online bank accounts, earn fictitious wages, and pay expenses, mimicking real-world financial scenarios. This approach not only makes learning enjoyable but also imparts essential life skills.
A significant part of our discussion centred on the role of schools in financial literacy. Simon emphasised that financial literacy should be an integral part of the curriculum. Money matters are always going to be a big part of life, because in this world nothing can be said to be certain, except death and taxes.
But as well as financial education in schools, we addressed the challenge of financial inequality and the varying levels of financial literacy among parents and adults. Schools, Simon suggested, can serve as potential equalisers by incorporating financial literacy into the curriculum. This helps students bring these concepts home and support their families, fostering a culture of financial awareness and well-being.
Reflecting on our discussion, it’s evident that financial literacy is more than just numbers; it’s about shaping a life of meaning and fulfilment. As we navigate an increasingly complex world, equipping the next generation with the tools to make sound financial decisions is paramount. I hope this episode inspires you to engage in financial conversations at home and support initiatives that promote financial literacy in schools.
To hear the full conversation with Simon Brown, listen to episode 62 of It’s Never About Money.
