Be super smart
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Introduction
Being uninformed about your financial rights and responsibilities can be costly. In this activity, students learn about the costs of accessing super early and the risk posed by scammers, They also consider what factors influence financial decisions and the consequences of these decisions.
Achievement standard
By the end of Year 10, students analyse how economic indicators influence Australian Government decision-making. They explain ways that government intervenes to improve economic performance and living standards. They explain processes that businesses use to manage the workforce and improve productivity. They explain the importance of Australia’s superannuation system and its effect on consumer and financial decision-making. Students analyse factors that influence major consumer and financial decisions, and explain the short- and long-term effects of these decisions.
Students develop and modify a range of questions to investigate an economic and business issue. They locate, select and analyse relevant and reliable information and data from a range of sources. They interpret and analyse information and data to evaluate trends and economic cause-and-effect relationships, and make predictions about consumer and financial impacts. They develop an evidence-based response to an economic and business issue. They evaluate a response, using appropriate criteria to decide on a course of action. Students use economic and business knowledge, concepts, and terms to develop descriptions, explanations and reasoned arguments that synthesise research findings.
Content descriptions
Economics and Business Knowledge and Understanding
Factors that influence major consumer and financial decisions, and the short- and long-term consequences of these decisions. (AC9HE10K03)
The importance of Australia’s superannuation system and how this system affects consumer and financial decision-making. (AC9HE10K04)
Economics and Business Skills
Interpret information and data, explaining economic and business issues, trends and economic cause-and-effect relationships, and make predictions about consumer and financial impacts. (AC9HE10S03)
Create descriptions, explanations and arguments, using economic and business knowledge, concepts and terms that incorporate and acknowledge and research findings. (AC9HE10S05)
Teacher resources
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Planning for retirement – be Super Scheme Smart
Student learning resources
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Super scams
Suggested activity sequence
This sequence is intended as a framework to be modified and adapted by teachers to suit the needs of a class group. If you assign this activity to a class, your students will be assigned all student resources on their 'My learning' page. You can also hand-pick the resources students are assigned by selecting individual resources when you add a work item to a class in 'My classes'.
- Play: Planning for retirement – be Super Scheme Smart. This video is about aggressive tax planning retirement planning schemes – what to look for, and where to go for help.
- As a class, discuss what the possible consequences for people who fall victim to a ‘super scheme’.
- Students complete the worksheet.
- Students complete a 3-2-1:
- 3 things the student learned from the activity.
- 2 things the student found interesting and what they’d like to learn more about.
- 1 question they still have.
- Discuss the questions students still have and allow them time to explore answers.