Financial literacy for life

• Sources and types of income;
• Financial issues associated with earning an income and types of employment; and
• Reasons for taxes.

• Payment options for purchases;
• Budgeting and the consequences of poor budgeting;
• The use of credit; and
• Investment options and superannuation.

• Key factors influencing consumer decisions;
• Factors that contribute to changes in behaviour and practices by individuals and organisations;
• Issues to consider in comparison shopping ; and
• Researching consumer information from a variety of sources.

• Processes involved in achieving consumer redress;
• Organisations that provide assistance for consumers; and
• Remedies and their outcomes.

• Choosing a car;
• Car insurance decisions;
• Considerations when buying a car; and
• Borrowing money.

• Financial skills needed for independent living;
• How to access the financial services industry;
• Financial services available to individuals;
• The purpose of social security and who can access social security; and
• Consequences of good and poor financial decisions (short- and long-term) for individuals, families and the wider community.

• Sources and types of income for individuals and families;
• Maximising income from an established source;
• Managing changing financial circumstances;
• Risks and benefits of investment options;
• Factors to be considered when borrowing money; and
• Evaluating financial expectations against financial opportunities.

• Rights and responsibilities of consumers and producers;
• Purpose of consumer legislation and how it works;
• Online shopping
• Rights and responsibilities of online consumers; and
• Responsibilities of consumers to the wider community.

• Different types of investment;
• Financial and lifestyle decisions individuals make when choosing investments;
• Financial skills involved in investing;
• Investment scams; and
• Ethical investment.

• The role of a business plan in establishing a business;
• Financial considerations in commencing a business;
• Putting a business plan into action; and
• Avoiding business failure.

• e-business operations;
• Advantages and disadvantages of shopping online;
• Safety issues related to Internet banking;
• How e-business has opened up global markets; and
• Using personal finance computer programs to manage finances.

• The effect of economic variables on personal financial decisions;
• The sectors of the Australian economy and how they respond to change; and
• The effect of economic changes on local, national and international markets.