On August 1st, ASIC launched its National Financial Literacy Strategy for 2014. See press release
According to the article, financial literacy is about having the knowledge, skills, attitudes and behaviours necessary to make sound financial decisions, based on personal circumstances, to improve financial wellbeing. It is considered by many as a ‘core life skill for participating in modern society.’
I personally think it is a fantastic move that, if implemented correctly, will have huge future benefits for not only the individuals that embrace the education, but for the prosperity of our nation as a whole.
‘With almost every Australian owning one or more financial products, improved financial literacy can benefit anyone, regardless of age or income, in term of having greater understanding of financial matter and the ability to meet financial goals for the future.’
ASIC’s strategy is being deployed using all the latest technology. They have a dedicated website with loads of useful tools and calculators.
Odyssey is also at the forefront of money management having recently released its Odyssey Smart Money offering using cutting edge Moneysoft software. We take a step further from ASIC’s initiative, by helping you manage your money in real-time, with automatic bank feeds and pro-active tracking processes. Managing your household finances has never been so easy – or accurate! Check it out here
I truly believe that good money management will beat any ‘get rich quick’ scheme over the long run and I look forward to seeing the results pan out in this space!
Written by Silke Poortman – Sales & Marketing Manager, Odyssey Financial Management