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 8, students:

Recognise emotions

examine influences on and consequences of their emotional responses in learning, social and work- related contexts

Recognise personal-qualities-and-achievements

make a realistic assessment of their abilities and achievements, and prioritise areas for improvement

Typically, by the end of Year 8, students:

Develop self-discipline and set goals

select, use and analyse strategies that assist in regulating behaviour and achieving personal and learning goals

Communicate effectively

analyse enablers of and barriers to effective verbal, nonverbal and digital communication

Negotiate and resolve conflict

assess the appropriateness of various conflict resolution strategies in a range of social and work-related situations

Typically, by the end of Year 8, students:

Work independently and show initiative

critique their effectiveness in working independently by identifying enablers and barriers to achieving goals

Become confident, resilient and adaptable

assess, adapt and modify personal and safety strategies and plans, and revisit tasks with renewed confidence

Appreciate diverse perspective

acknowledge the values, opinions and attitudes of different groups within society and compare to their own points of view

Contribute to civil society

analyse personal and social roles and responsibilities in planning and implementing ways of contributing to their communities

Work collaboratively

assess the extent to which individual roles and responsibilities enhance group cohesion and the achievement of personal and group objectives

Make decisions

assess individual and group decision- making processes in challenging situations

Develop leadership skills

plan school and community projects, applying effective problem-solving and team-building strategies, and making the most of available resources to achieve goa