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Financial Literacy

Increasingly there are aspects of literacy that can be significant in meeting life’s demands in contemporary society.

Financial literacy is about understanding money and finances and being able to confidently apply that knowledge to make effective decisions. Think about the changes you have experienced with increasing financial responsibility and what you found to be useful guidance along the way.

MoneySmart week is September 1st – 7th 2014 so August is a good time to give some thought to the significance of financial literacy to people in your organisation.

ASIC is the lead government agency with responsibility for financial literacy. The ASIC Moneysmart website was launched in March 2011 and contains a suite of information for people of all ages and stages of life.

There are apps, calculators, on line videos and case studies. There is a teaching program linked to the Australian Curriculum.

Financial literacy units of competency are now endorsed as electives in the Financial Services training Package. The units of competency are

  • Be MoneySmart (Cert III)
  • Be MoneySmart through a Career in Small Business (Cert IV)

The National Financial Literacy Strategy 2014 – 2017 and the ASIC program annual report is available here.

The site also provides a link to the Moneysmart website.

“Improving financial literacy can benefit anyone, regardless of age, income or background. It helps people make informed choices, day-to-day and throughout their lives.” *

* http://www.financialliteracy.gov.au/strategy-and-action-plan/strategy-2014


PUBLISHED IN Latest News ON August 19, 2014

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