Consumer and financial literacy: Personal and social capability

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Personal and Social Capability has an important role in developing consumer and financial literacy in young people, equipping them with the knowledge, understanding, skills and dispositions needed to engage in a range of consumer and financial situations. Personal and Social Capability contributes to the development of the dimensions of consumer and financial literacy as shown in the diagram below.

Approximate proportion of the dimensions addressed by Personal and Social Capability

The development of Personal and Social Capability is a foundation for active citizenship. Through developing an understanding of self and others, students understand their own consumer and financial attitudes and behaviours and appreciate those of others. They learn to identify the resources needed to set and achieve goals, to communicate effectively and to handle challenging situations constructively. They learn to apply informed decision-making in a range of real-world contexts and use criteria to evaluate the effects of individual and group decisions. These are important skills for responsible participation in real-world consumer and financial contexts. Personal and Social Capability also supports the development of enterprise skills such as leadership, working productively with others, planning and organising, adaptability and resilience. Dispositions that enable effective participation in consumer and financial contexts, such as feeling positive about themselves and others, persistence, confidence and self-discipline are also enhanced by this capability.

Moneysmart for teachers and Tax, Super and You provide a number of interdisciplinary units and interactive activities that include aspects of Personal and Social Capability.


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Typically, by the end of Year 4, students:

Recognise emotions

describe the influence that people, situations and events have on their emotions

Recognise personal-qualities-and-achievements

describe personal strengths and challenges and identify skills they wish to develop

Typically, by the end of Year 4, students:

Communicate effectively

identify communication skills that enhance relationships for particular groups and purposes

Negotiate and resolve conflict

identify a range of conflict resolution strategies to negotiate positive outcomes to problems

Typically, by the end of Year 4, students:

Work independently and show initiative

consider, select and adopt a range of strategies for working independently and taking initiative

Become confident, resilient and adaptable

persist with tasks when faced with challenges and adapt their approach where first attempts are not successful

Appreciate diverse perspective

discuss the value of diverse perspectives and describe a point of view that is different from their own

Contribute to civil society

identify the various communities to which they belong and what they can do to make a difference

Work collaboratively

describe characteristics of cooperative behaviour and identify evidence of these in group activities

Make decisions

contribute to and predict the consequences of group decisions in a range of situations

Develop leadership skills

discuss the concept of leadership and identify situations where it is appropriate to adopt this role