ASIC’s MoneySmart site offers free information and financial advice for Australians across a range of fields: credit, borrowing, superannuation, retirement, investing and even potential scams.
The corporate regulator aims to improve the money knowledge of all Australians and empower their decision making, according to Laura Higgins, ASIC’s senior manager, financial capability.
“Knowing how to manage your money and make financially sound decisions is one of the most important skills in everyday life,” Ms Higgins said.
“Financial capabilities impact the daily decisions Australians make including balancing a budget, buying a home, funding their children’s education and ensuring an income at retirement.”
Ms Higgins said changes to technology and the financial landscape can make it hard for Australians to keep on top of the latest financial information, while factors such as life stage, gender, household composition, income and attitudes towards money can also play a role in people’s outcomes.
“It’s important that Australians are well informed to ensure they have the financial skills and knowledge to understand budgeting, saving and managing debt,” Ms Higgins said.
Originally published as Aussies behind on financial knowledge