Elite sports are not a cheap field to enter.

19-year-old Liam Sceats is on a journey to make it as a professional motorsport driver, aiming to achieve his dream of competing in IndyCar.

He’s currently competition in Indy NXT with HMD Motorsports – and it’ll cost him $1.2 million USD to compete in all 12 rounds.

Sceats currently has a three event deal, but will need to secure more funding to take it all the way to the end.

However, obtaining funding is not as easy as simply doing well in the races.

He told Mike Hosking that support certainly comes easier if you’re a winner, but for him it largely comes from hustling and doing the groundwork.

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Regulars will know school and I were never really that close.

It was a means to an end, and the end couldn’t come soon enough. The means was the skills required to get out into the world and get on with it.

One of the things it did help with was economics. I found it genuinely interesting and did quite well in it.

They taught me compounding interest. If you don’t know about compounding interest, you don’t know about life.

Economics is life and its lack of understanding is why so many people have so many difficulties with money.

As of 2027 financial education, it has been announced, will be compulsory in school in Years 1-10. I'd make it Years 1-13 but praise the Lord.

This is education you can use.

Geography, Latin, and physics are about career pathways and ideas you may, or may not, find interesting. As a result, you may, or may not, ever use them.

But finance is about life, about success and about navigating the world.

People who know what money, currency, interest, dividends, investment and returns are, do better in the world than those who don’t.

It raises the question as to what education is about. Is it about a pathway to university, to skills, or to understanding, or the power and value of learning, or the basics of life?

They used to do home economics, still do under different names. Is that a pathway to work with Alain Ducasse, or to make some scones on a rainy Sunday?

I figure if nothing else school should be useful. A lot of people don’t use a lot of what we got at school. Things like nomadic tribes of Africa in geography didn’t serve me all that well, but compound interest has.

Economics opened a door for me – a useful, beneficial and financially fruitful door.

The idea that all kids will get that going forward is no bad thing.

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House prices are set to rise as businesses report less confidence

With two further cuts expected to the OCR, ANZ is now expecting a 4.5% lift as opposed to 6%.

Business confidence has also taken a tumble, with just 49% expecting improvements in the year ahead – down 9 points.

ANZ Chief Economist Sharon Zollner told Mike Hosking the data was taken amid tariffs hitting the markets, impacting business confidence, investment, and employment.

She says there may be a hint of a knee-jerk reaction that may not last, but only time will tell.

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On the Mike Hosking Breakfast Full Show Podcast for Thursday 1st of May, the Aratere ferry is being retired – the only rail-enabled ferry in KiwiRail’s fleet.

Financial literacy will now be taught at schools in Years 1-10.

And Indy NXT driver Liam Sceats details just what young drivers have to go through to get the funding for a single season of driving at the top level.

Get the Mike Hosking Breakfast Full Show Podcast every weekday morning on iHeartRadio, or wherever you get your podcasts.

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Another big win for New Zealand Rugby in the wake of the messy end to a major sponsorship agreement.

Vehicle manufacturer Toyota has reportedly signed a multi-million dollar agreement to put its name on the All Blacks training kit – partly replacing INEOS.

The agreement is also believed to include the provision of vehicles for players and management who don’t have existing contracts with previous vehicle partner, Ford.

Former NZ Rugby CEO David Moffett told Mike Hosking it’s good news.

He says it’s very similar to the Ford deal that they had back in 1995.

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Another Government curriculum refresh is aiming to give school kids more grasp of money management.

The Education Minister's making financial literacy a compulsory topic for Years 1 to 10.

The Government's teaming up with financial organisations, banks, and charities for lessons on investment and taxes.

Banqer CEO Simon Brown told Mike Hosking that on an international level, we don’t stack up too badly, but there’s a wide variety in the level of financial education given by schools.

He says that some schools do a great job delivering to all students, but in others financial education is completely lacking, and as a result, student preparedness is left up to chance.

Brown believes a lot of people appreciate the importance and value of financial education, so to see this plan come to fruition is an exciting step.

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The Ruapehu District could be in for an economic boom with new skifield ownership.

The Department of Conservation's approved a 10 year concession for Whakapapa Holdings to operate the Whakapapa side of Mount Ruapehu.

An agreement for the Turoa side was struck last year, following a lengthy bidding war, with numerous Government bailouts.

Mayor Weston Kirton told Mike Hosking it’s a critical milestone in securing the future of skiing in Mount Ruapehu.

He says it gives confidence to the wider tourism sector, and provides a huge amount of income to the community and region – to the tune of around $100 million.

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KiwiRail admits it may be helping out its competition by reducing its Interislander fleet to two.

Aratere will be retired when demolition begins on its decaying dock in Picton late this year or early next, to add infrastructure for new ships.

Two new ferries are due in 2029.

KiwiRail Chief Executive Peter Reidy told Mike Hosking some passengers may opt now to travel with Bluebridge.

He says capacity is spread between the companies when one faces an issue.

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