Do the youth know the value of money?
How do we foster and encourage young entrepreneurs?
Is there enough financial education in our schooling system?
These are the kinds of questions being asked by this week’s guest, Matt Heine.
Matt is Joint Managing Director of Netwealth, an ASX-listed financial services and technology company, started by his family to service investors and the wealth management industry.
Matt is passionate about improving the lives of Australians, specifically their financial education. He champions Netwealth’s partnership with Banqer – a virtual classroom economy where school children can learn to earn, save, spend and invest their money.
He aims to create financial literacy and capability across the country and 8,500 students, ages between 8 and 12 currently use the program with a goal of 15,000 a year.
It’s programs like Banqer that can boost financial literacy for the next generation. Matt says it’s his goal to get every school student in Australia into this program. That way kids can gain a deeper understanding of finance and money AND can apply that knowledge in the real world.
Matt’s quest for improving financial literacy doesn’t stop there. His eight-year-old son, Harry, has just bought his first stocks. Matt set up an investment account where he would double the pocket-money Harry deposited into it. (Don’t get used to that rate, mate).
Soon Harry has (with a bit of help from Matt) invested $100 across three companies: Alphabet, Microsoft and Apple.
Now THAT’S how you foster a young entrepreneur.
To hear the full conversation, listen to Episode 31 of It’s Never About Money.
