As the end of the year approaches and many young people join the workforce for the first time, Financial Basics Foundation is advocating for young people aged between 15 – 18 to be better equipped to manage and understand financial concepts around getting their first job.
To achieve this, the Australian charity is launching a new MoneyIQ video series supported by Suncorp Bank, aimed at educating young people on everything they need to know when starting work.
To celebrate the launch of its new series, Financial Basics Foundation is hosting a free webinar, Teen MoneyIQ: Earning, on Wednesday, 4 December. This interactive session is designed to equip young people with essential tips and insights as they prepare to enter the workforce. Renowned author, podcaster, and teen advocate Rebecca Sparrow will host the webinar, guiding participants through the fundamentals every young worker needs to know.
According to a recent report by ASIC, Gen Z are more likely than other generations to agree that their finances are a major cause for concern, with many feeling overwhelmed, not knowing much about finances, and not knowing where to start.
In response to these concerning findings, the videos and the webinar are designed to address critical financial concepts every young person should understand before entering the workforce. Financial Basics Foundation provides resources that have been used in over 2000 high schools across the country and each year, more than 30,000 students play its online financial simulation money game (ESSI Money) which teaches teenagers how to earn, save, spend, and invest wisely.
The free webinar will feature insights from financial experts, as well as practical advice from a parent and teen, offering relatable insights as they discuss the ‘money’ aspects of getting a job.
Topics will include obtaining a tax file number, understanding your pay slip, including tax deductions, knowing your workplace rights and responsibilities and recognising and avoiding job scams. Attendees will also have the opportunity to pose any questions they may have around starting a first job.
