Financial literacy will become a core element of the New Zealand social sciences curriculum for Year 1-10 students from 2027. But what is being proposed presents a limited picture of the factors influencing people’s financial wellbeing.

The specifics of the curriculum have yet to be released. However, the government’s announcement emphasised a focus on individual responsibility. Young people will be taught what they need to live within their means and how to accumulate enough wealth for retirement.

When announcing the new curriculum, Commerce and Consumer Affairs Minister Scott Simpson said:

We are all consumers, and financial literacy can set young Kiwis up to be savvy consumers – whether it’s knowing how to invest wisely, choose the best loan at a bank, or even identify a scam.

However, as our research shows, focusing only on individual responsibility risks ignoring the economic systems – and inequities –........

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