Financial literacy is finally making it into the official school curriculum (excerpt):
KUALA LUMPUR: Financial education will be incorporated into the school curriculum in stages from next year.
Bank Negara assistant governor Abu Hassan Alshari Yahaya said the central bank, in a collaboration with the Education Ministry, would introduce it to Year 3 students next year and secondary school students from 2017.
“Part of the financial education elements have been introduced this year in Bahasa Malaysia and Maths subjects, ahead of the targeted date,” he said during the launch of the Financial Literacy Month yesterday.
Abu Hassan said financial education needed to be inculcated continuously from a young age to adulthood to help instill discipline and increase their financial management skills.
He said the curriculum would cover money management, planning, savings and investments, credit and debt management and insurance.
Abu Hassan said that parents should not rely only on the school curriculum for their children to be prudent with their finances as they should share the responsibility...
I have hardly anything to add to what he said, save to note that adult financial literacy skills are on average pretty abysmal the world over. I don’t know of any other country that has made this move (sound off in the comments if you know any), so Malaysia might actually be one of the first.