The inaugural New Zealand Symposium on Financial Literacy was held in Wellington in December 2006. The symposium explored the importance of financial literacy and looked at what was happening in New Zealand and overseas.
The impetus for a national strategy to raise New Zealanders’ financial literacy arose from the symposium. Within 18 months a draft National Strategy had been developed, a consultation process undertaken, and New Zealand’s first National Strategy for Financial Literacy was launched, in June 2008. This rapid development underlines the importance attached to the issue by the public, private and voluntary sectors.
Ron Sandler addressed what is meant by 'financial capability' and why it is deemed important. His speech considered the costs and benefits of financial capability, how it may be measured and the role of government and schools.
Financial education lessons for New Zealand
David Feslier looked at what is happening with financial education in other parts of the world.
Financial education in schools
Lester Taylor, former Chief Executive of the Dunedin College of Education and consultant, and Donna Dentice, Chief Executive of Enterprise New Zealand Trust, discussed lifting the financial literacy of our nation's children and financial education in schools.
Financial education in the workplace
David Kneebone, Project Manager for Workplace Financial Education, Retirement Commission, presented information on strategies, programmes and opportunities for financial education and the role of the workplace.
Financial education in the community
Janine Dowding, Nelson Regional Commissioner, Work and Income, and Raewyn Fox, Chief Executive of the NZ Federation of Family Budgeting Services, presented on the issues and challenges for delivering financial education in the community.
Measurement and effectiveness
Alison O'Connell, former Director of the UK Pensions Policy Unit, presented on the measurement and effectiveness of financial education.
A panel discussion focused on the topic ‘The financial service sector’s contribution to raising financial literacy’
Professor Gary Hawke, Head, School of Government, Victoria University, provided the closing remarks for the day.