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Understanding money pays off

The Federal Government’s undertaking an information campaign on financial literacy called ‘Understanding Money.’ If you would like to obtain information about managing your money, you can read this article or visit their website


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ABA's Financial Literacy Program Broadening Financial Understanding

ABA’s Financial Literacy program

The ABA is committed to improving financial literacy for all Australians. The ABA’s financial literacy program “Broadening Financial Understanding” aims to help Australians make confident and informed decisions regarding their own finances.

Financial literacy is one of the ABA’s long-term priorities. The program consists of three key objectives:

  • Information dissemination program: Objective to enhance distribution and delivery of existing and new materials in collaboration with partners. 

In practice: Disseminating easy to understand facts and information to consumers so they are aware of their financial opportunities and choices (with member banks assisting consumers in making their decisions).

  • Access and awareness program: Objective to increase awareness and access to ABA and banks’ own financial literacy materials and programs.

In practice: Raising awareness and understanding by providing consumers with messages about the long-term importance of being in control of their finances (with member banks backing these messages up with education, training and guidance).

  • Materials development program: Objective to continue to develop generic materials and resources to promote ‘responsible spending leadership’.

In practice: Assisting consumers find the right product or service for them by providing them with the financial knowledge and skills to understand the consequences of their financial decisions (with member banks ensuring consumers have access to banking products and services).

For more information on the ABA’s financial literacy program click here


     
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