Financial Literacy Essay

Financial Literacy Essay-61
A number of Australian universities offer financial literacy subjects, such as Monash University BEX2001: You, Money & Life]), Macquarie University AFAS300: Principles of Financial Literacy, The University of Western Australia (FINA1109: Managing Your Personal Finance) and The University of Melbourne (FNCE30008: Street Finance).The Know Risk Network of web and phone apps, newsletters, videos and website was developed by insurance membership body ANZIIF to educate consumers on insurance and risk management.A longitudinal study on the impact of financial literacy education on attitudinal and behavioural change is on-going.

A number of Australian universities offer financial literacy subjects, such as Monash University BEX2001: You, Money & Life]), Macquarie University AFAS300: Principles of Financial Literacy, The University of Western Australia (FINA1109: Managing Your Personal Finance) and The University of Melbourne (FNCE30008: Street Finance).

Tags: Simple Small Business Plan Template FreeMajor Parts Of Research PaperEnergy Sources EssayTraveling Essay IntroductionCase Study Of Marketing ResearchBusiness Plan Appendix SampleFeud Violence And Practice Essays In Medieval Studies

The Australian Government also runs a range of programs (such as Money Management) to improve the financial literacy of its Indigenous population, particularly those living in remote communities.

In 2011 ASIC released a National Financial Literacy Strategy — informed by an earlier ASIC research report 'Financial Literacy and Behavioural Change' — to enhance the financial wellbeing of all Australians by improving financial literacy levels.

Financial literacy is the possession of the set of skills and knowledge that allows an individual to make informed and effective decisions with all of their financial resources.

Raising interest in personal finance is now a focus of state-run programs in countries including Australia, Canada, Japan, the United States and the United Kingdom.

The strategy has four pillars: for teachers and educators.

It provides professional learning and other resources to help educators integrate consumer and financial literacy into teaching and learning programs.In the UK, the alternative term "financial capability" is used by the state and its agencies: the Financial Services Authority (FSA) in the UK started a national strategy on financial capability in 2003.The US Government also established its Financial Literacy and Education Commission in 2003.Such day-today relevant and authentic illustrations enhance the experiential learning to build financial capability in youth.Integral to evidence-based practices in schools, research on financial literacy is spearheaded by the Hub, which has published numerous impact studies on the effectiveness of financial literacy programs and on the perceptions and attitudes of teachers and students.The Singapore government through the Monetary Authority of Singapore funded the setting up of the Institute for Financial Literacy This Institute aims to build core financial capabilities across a broad spectrum of the Singapore population by providing free and unbiased financial education programmes to working adults and their families.From July 2012 to May 2017, the Institute reached out to more than 110,000 people in Singapore via workshops and talks.The survey involved a thousand young Saudi nationals, and the results showed that only 11 percent kept track of their spending, although 75 percent thought they understood the basics of money management.An in-depth analysis of SEDCO's survey revealed that 45 percent of youngsters did not save any money at all, while only 20 percent saved 10 percent of their monthly income.Additionally, a growing number of financial literacy researchers are raising questions about the political character of financial literacy education, arguing that it justifies the shifting of greater financial risk (e.g.tuition fees, pensions, health care costs, etc.) to individuals from corporations and governments.

SHOW COMMENTS

Comments Financial Literacy Essay