Building resilient regional and remote Queensland communities.
Financial Basics Foundation
Now into its second year, our partnership with the Financial Basics Foundation aims to improve financial resilience and capability for Queenslanders, with a particular focus on those living in rural and remote communities. Research has identified that over 60% of Australian adults are facing some level of financial stress or vulnerability with over 2 million people experiencing high levels of financial stress.
Younger people are typically more likely to experience severe financial stress than older people, and financial stress is a key factor in many areas of mental health, family violence and poverty across Australia.
Research also supports the view that the Australian population is most vulnerable in the area of financial knowledge and behaviour, with almost half of the population identifying themselves as having low to very low financial knowledge.
The deficit in financial capability is widespread and is an issue in both metropolitan and regional communities, making building financially resilient communities a critical area of need.
To address this deficit, in 2018 we commenced the trial of our financial capability program, Ca$hED Up, which involves rural, remote and regional schools implementing the five-lesson course with all Year 7 students, typically through a Life Skills or Pathways program.
A number of Queensland schools have completed the trial with additional schools planning to do so in 2019. Early results are promising and the QCoal Foundation is focussed on assessing these results and engaging with more schools to expand the trial.
Results from the trial will be used to determine the effectiveness of the program; its ability to be replicated state-wide and to shape future program content.
In addition to the Year 7 lessons, a program has been developed for Years 8, 9 and 10. Please contact us if you know of schools that might be interested in participating.