3AW Mornings host Tom Elliott raised the idea that financial literacy is an important part of adulthood but was not commonly taught in schools across Australia.

Elliott said he had been lucky enough to be taught it during his education and had reaped the rewards of that knowledge as an adult.

Press PLAY to hear why Elliott thinks having a basic level of financial literacy is so important

“I am forever grateful that I actually learnt something at school which was useful in later life,” he said.

Financial Educator Nicole Pederson-McKinnon is proposing financial literacy as a compulsory school subject to the government on Tuesday.

Press PLAY to learn what Pederson-McKinnon is proposing

“We really just need to step up, agree that this is vital, this is what should be in the curriculum,” she said.

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