Financial Literacy Funding to improve Australian financial skills

Recent Treasury modelling shows a person earning $36,000 could be $790,000 better off over their working life by improving their understanding of money and by becoming more financially literate.

Australia’s business, community, government and education leaders have joined forces to help improve Australian financial decision-making skills. In June, at Alexandra Hills High School, Brisbane the Australian Financial Literacy Foundation was launched. Chaired by money commentator Paul Clitheroe, the Foundation has 10 high profile Australians on its advisory board.

The Federal Government has committed $41 million over five years to the project which will:

-run an Australia-wide information and awareness-raising campaign;
-incorporate financial literacy programmes in schools and workplaces;
-set up a website portal for financial literacy education and information.

FOR MORE INFO CONTACT: Sally Webster, Financial Literacy Foundation, (02) 6263 3628, 0432 970 930