RSI Corporate - Licensing

Financial literacy programs need to get real

Eureka Street – Rachel Kurzyp

“Most young people grow up hearing that if you spend less money than you earn, and save a nice percentage of your earnings each week, all your financial problems will be solved. While that’s nice in theory, our financial literacy programs are just that; theory. The National Financial Literacy Strategy 2014-17 defines financial literacy as ‘the combination of financial knowledge, skills, attitudes and behaviours necessary to make sound financial decisions, based on personal circumstances, to improve wellbeing’. Put in action, financial literacy means individuals are able to ‘understand and negotiate the financial landscape, manage money and financial risks effectively, and pursue and attain financial and lifestyle goals’. It is a core skill and, thanks to increasing tertiary education costs, rising job insecurity and high housing costs, it’s a skill young Australians need to master earlier than their parents did.”(more)

Submit a Comment

Your email address will not be published. Required fields are marked *