Online financial education platform, Banqer, has called for advisers to get involved in schools around New Zealand.
Banqer was a general sponsor of the recent Financial Advice NZ National Advisers Conference where co-founder and CEO, Kendall Flutey, presented to advisers at the event and encouraged them to get involved with Banqer and reach out to schools in their community.
The software is designed for primary-aged children to learn about finance first-hand in their classroom and prepare them at a young age for the financial world when they grow older.
Banqer confirmed it currently reaches over 60,000 Kiwi children in schools across New Zealand.
Commenting on Banqer’s sponsorship for the conference, Financial Advice NZ stated “We encourage our Members to forge links at their local school level to build the reputation of our Members as the leading source of best practice financial advice in New Zealand”.
Speaking with RiskinfoNZ, Banqer COO, Simon Brown, says they are always looking to work with those who are interested in sharing and supporting their work and mission to improve financial literacy.
“In the case of financial advisers, what we do is something that really seems to resonate with them as they’ve seen firsthand the effects of people not being financially literate and capable,” said Brown.
He said advisers can get involved by reaching out to a school in their local community and share Banqer with them.
“Beyond that, we’re exploring the potential for really passionate advisers to go into schools and have a chat to students about their money experiences at the request of a teacher,” added Brown.
“…we’re exploring the potential for really passionate advisers to go into schools and have a chat to students about their money experiences…”
RiskinfoNZ’s recent poll found that most advisers agree that improving financial literacy among consumers is part of the solution to underinsurance in New Zealand.
Banqer introduces income, expenses and budgeting to Kiwi students from years 2 to 8, adding on insurance, KiwiSaver and real estate from years 6 to 8.
Brown explained it’s important that New Zealanders learn about finance from a young age because research shows that most children’s financial habits are formed by the age of seven.
“These young children are well on their way to grasping all the main aspects of how money works and have formed core behaviours which they will take into adulthood and which will affect financial decisions they make for the rest of their lives,” he said.
“We think it’s important that we start talking to kids about money by this age, at both home and school, so they grow to have a positive relationship with money, and ultimately, are financially literate and capable adults.”