Education Financial Literacy | Financial Literacy |
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The current lack of financial literacy skills, especially within our youth, is regularly hitting the news headlines!! There are many reasons to be concerned about the state of financial literacy in the general community and plenty of evidence to support that concern. What has that taught them about financial management? Now in their teens or adult years the amount of credit card and mobile phone debt within this age group is quite alarming!! The Baby Boomers are generally the wealthiest retirees that Australia has ever known. This shows in their spending habits and the education they have (or have not) passed on to their children, who are now parents of their grandchildren. Older Grandparents of today are concerned that common sense is no longer common practise when it comes to all things related to money and wealth. Who would be willing to argue that point with them? Their generation went through hard times and knew that money could not be just thrown around and spent without concern for the future. The Australian Government is investing $millions over the next few years to establish Financial Literacy programs in Australian Schools. An initiative of the Financial Literacy Foundation established in June 2005. Read more about the plans...
The Understanding Money Website was also created and acts as an excellent resource and expresses the concerns about this vitally important subject. Some examples of how this issue has attracted national interest can be seen when Money Magazine ran a Cover Story Feature and a set of relevant articles in April this year. To see a sample
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Sunday Mail Tips for Under 25s.pdf
The Y Generation, today's 18-25 year old's have some pretty loose attitudes concerning money, some never knowing difficult financial times as they grew up, while others have seen their parents continually in debt. 
