Te Waha o Rerekohu Area School | Booster Foundation

Te Waha o Rerekohu Area School and Kiko Innovation

have been exploring what a more inclusive, equitable financial system could look like, starting with education and KiwiSaver.

Its pilot programme with Banqer, has focused on inspiring tamariki in Te Araroa to be curious, creative and confident with money. Cain Kerehoma from Kiko Innovation sees this as a long-term strategy to:

“build our hapu’s wealth over generations and invest in the future of our tamariki, by getting primary aged kids on their long-term savings journey and kick starting their KiwiSaver.”

Starting early is key

The kids engage through Banqer in a simulated environment, playing the game of money from 5 years old when they start school so they learn about savings and investment – including the crucial aspect, that saving consistently over time will make the most difference.

“Matua Ryno showed us what a need and a want is. For example, something you really need is food, a normal car and definitely a house.

On the other hand, a want is something you really want but you won’t need. For example, something you want is lollies, a Lamborghini and probably some Air Jordans, mostly something that looks cool. I think I am ready for life now.”

The Booster Foundation funding has been instrumental in Rerekohu school making a positive impact through their mahi with kaiako, whanau and tauira.

The access to support, onboarding them with Banqer, setting up a financial expo for whanau, and deeper engagement initiatives with whanau mean they are building momentum on financial education in their community.

Ryno Theron from Rerekohu says some of the kids started with low financial understanding.

"They don’t have bank cards, there is no talk in the household about money and saving.

Now the kids are learning about things like rent, internet, power and savings and they are starting to talk about these things at home, so the programme is setting the kids up to be able to make great financial decisions for when they eventually leave school.”

One of the highlights from the recent whanau financial expo held at the school was hearing from the kids.

“They know what interest means, they know what expenses are and when we use that kupu or jargon, the kids have a real depth of understanding of what they mean,” says Cain.

“Whanau engagement is key and enthusiasm within our school community about this enhanced learning opportunity is palpable, as we look forward to equipping our students with essential financial skills that will serve them well beyond the classroom,”

Longer term, Cain would like to roll out the programme across Tairāwhiti and ultimately nationwide to build long term intergenerational wealth.