What’s The National Financial Literacy Strategy?

Sunshine Coast Local News

Managing money is an important everyday skill and Australians are faced with making a range of financial decisions on a day-to-day basis. The National Financial Literacy Strategy, led by ASIC, supports activities that strengthen financial capabilities of individuals, families and communities. The National Strategy brings together organisations including government, the education sector, the community sector and financial services firms to work collaboratively to make a difference.

ASIC has released a consultation paper to inform the development of the National Strategy from 2018. We want people to have their say and to be part of this process because everyone benefits from improved financial well-being.

The consultation paper outlines a number of issues, including:
·        How can we encourage more people to talk about money?
·        What can organisations do more of, to better support people to grow their financial capability?
·        Are there groups of the population or particular life events that need a stronger focus?

The work under the National Strategy is important because all Australians need to know how to manage money day-to-day, plan and save for the future, and make informed financial decisions. Many will also benefit from knowing what help is available to them to build confidence and understanding.

Almost 800,000 people already visit ASIC’s MoneySmart website each month for information on a range of topics including budgeting, saving, planning, superannuation and retirement.

I encourage you to have your say via the consultation paper.

 

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