Our young people are most vulnerable - 16 to 25 year olds comprise 42% of the least financially literate members of the community. (however, these levels have improved since 2004).
The importance of school programs - Since 2004, the use of school studies as a source of financial literacy information has increased from 31% to 39%, reaffirming the value of school based literacy programs.
Profound benefits for individuals - The least financially literate members of our community suffered the worst effects of the Global Financial Crisis in terms of job losses and reductions in working hours. Poor financial literacy goes hand in hand with difficulty in meeting regular commitments such as phone or power bills.
Economic benefits for Australia - Boosting financial skills for 10% of Australians with poor financial literacy can create 15,000 new jobs and increase Australia's gross domestic product by $6.2 billion annually over the long term.