The Australian Securities and Investment Commission (ASIC) has unveiled its 2018 National Financial Capability Strategy designed to help Australians take control of their financial lives.
Officially launching the strategy in Canberra, former Minister for Revenue and Financial Services, Kelly O’Dwyer said it would guide action across the Government, business, community, education and research sectors so they could support enhanced financial capabilities in individuals, families and communities.
“We want all Australians to be in control of their financial lives,” Ms O’Dwyer said.
“The strategy aims to help Australians better control their financial lives by improving their skills in managing money day to day; making informed decisions, and planning for the future.”
She said a significant number of Australians struggled to manage their money.
“Strengthening financial capability takes time, but the benefits are significant,” she said.
“By investing in boosting these skills and behaviour now we will make a difference to so many later.”
Chair of ASIC, James Shipton, emphasised the importance of programs delivered under the strategy.
“The 2018 National Financial Capability Program drives programs and initiatives that make a difference in people’s lives,” Mr Shipton said.
“We want more Australians to access information and guidance they can trust to ensure everyone can make informed decisions.
“ASIC is committed to financial inclusion and better outcomes for all Australians.”
He said the 2018 National Financial Capability Strategy was formed from a consultation process that included more than 145 submissions from stakeholders and replaced the 2014-2017 National Financial Literacy Strategy.
The 2018 National Financial Capability Strategy can be accessed at this PS News link.
