Kansai International Academy implements financial education from elementary school. Financial literacy is one of the basic skills necessary likely to writing and reading literacy. It is thought important as knowledge taught while young will still be useful after growing up. Japanese government and Japanese bank has stated year 2005 as “first year of financial education”, and has been putting effort, however it is still obvious that Japanese education system is lacking financial education for students. In Japan, it has been seen a taboo to touch up on or teach about money in education, and is still has not changed. However, financial education is already a norm in primary education in developed countries.
To state the definition of financial education, it will be “to understand how money and financial system works, to think about the life of own and society, and is an education to nourish and enrich the value of life by creating a better life and society” (translated text from Financial Public Relations Central Committee 2007). In order to nourish and enrich the value of life, it is important to know how “trust” is built in the society, and a sense of to be employed, to use financial services, to protect from financial crimes and such. Financial education is unique to itself by learning about money and looking at different subjects from different angles to nourish skills to live on oneself.
Changes in social conditions (an aging society with low birthrate)Social change to cashless with the uses of internet banking and electronic money
→ Lack of understanding of the role of ‘money’ and value
Lack of financial literacy and proper knowledge as a consumer
→ Prevention of financial crimes
Financial education at KIA aims students not only to gain knowledge about the real world but also to learn how to apply their knowledge to their own life or the real world, and to take actions.
Elementary School (G4-6)
Role of money (cash) and its usage, the importance to build budget, risk management
Junior High School
Value in daily life, the circular structure of money in society, investment
Senior High School
Income and expenditure, credits and debts, savings and pension, financial products and financial services, the ways of taxes being paid and used