Core principles of engagement
Financial education programmes should be aligned to the National Strategy for Financial Literacy and follow a recognised teaching/learning framework.
Focus of the programmes
- Educational principles appropriate to the target audience (appropriate teaching and learning approach)
- Information which is neutral, holistic and up to date
- Empowering individuals, their families and communities to make informed decisions
- Processes of monitoring and evaluating delivery and outcomes
Competence of educators/facilitators
- Educators/facilitators employed or contracted to deliver education programmes are competent in subject matter
- Have currency of knowledge
- Are trained in appropriate teaching practices
- Maintain adequate level of skills and abilities
- Recognise their own limitations and prepared to refer people to appropriate support networks
- Have continuing commitment to learning and professional development
Conduct of the education provider/facilitator
- Disclose and manage all conflicts of interest in a professional manner
- Practice professionalism in their conduct including:
- Show dignity, courtesy and respect for clients/learners
- Comply with rules and regulations relevant to their profession
- Adhere to code of ethics of their profession
- Up to date teaching approaches to suit target audience and content
- Opportunities to ‘learn’ and provide feedback
- Assessment tasks are developed to reinforce learning
- Accessible to and can be understood by the target audience e.g. accessible to people with low literacy & numeracy
- Contextualised to meet the needs of the target audience
- Up to date and accurate
- Provides a balanced view of the topic/s and impartial in its message
- Independent and does not include services or product promotion
- Evaluated or peer reviewed
- Key messages are aligned to the Financial Literacy Competency Framework for adults, written in simple language and are appropriate to the target audience.
Monitoring and evaluation
- A monitoring and evaluation programme is in place
- Evaluation outcomes inform teaching practice and delivery approaches
- The requirements of the Privacy Act are met
Principles of engagement for the finance sector
Financial education programmes provided by the finance sector should be aligned to the National Strategy for Financial Literacy and be:
- Impartial and not product specific
- The content, format and language are easy to understand by the intended audience
- The format and language of the content engages and motivates learners.
Impartial and not product specific
- The information provided is unbiased, without prejudice, generic and not product specific.
- Information provided is current, correct and factual.
- The learner is the key focus and therefore, all information provided is in the context of learner needs.
- It is vital to monitor and measure success of all programmes offered. The way in which a programme will be evaluated should be considered during the planning stages.