"Financial capability is about having good financial awareness, so you can do everything from avoid getting into debt to maybe one day start your own business. A more financially capable society is important, because it can help create a more prosperous New Zealand," Ms Kaye said.
Financial capability would be taught at all year levels at the college starting next year. The initiative could be extended beyond the classroom to others in the Kaikohe community.
Ms Kaye also announced a one-off $15,000 grant from the Services for Young People Fund to allow a Venturer Scout Unit to be set up at Northland College.
The unit would help students develop self-confidence, leadership and team building. It could include chances to undertake the Duke of Edinburgh Hillary Awards and the Scouts Queen's Award.
Ms Kaye vowed to keep visiting Kaikohe.
"I've been really impressed by the students at Northland College. I know they'll make the most of these new opportunities, and I'm sure we'll see them go on to achieve some great things in the years ahead."
Ms Kaye was accompanied by Retirement Commissioner Diane Maxwell, who heads the Commission for Financial Capability.