NZCU rebranding has been a huge success » « Staff profile: Lynda Matoe – Wanganui Team Leader
NZCU rebranding has been a huge success » « Staff profile: Lynda Matoe – Wanganui Team Leader
Outcomes of the Financial Literacy Summit
July 20th, 2011 - NZCU EmployeesThe Retirement Commission held the Financial Literacy Summit in Wellington on 21 June 2011
Here are the key points from the summit…
- Financial capability begins in the classroom. Government support for funding of financial literacy in schools is deemed to be a priority.
- More collaboration between public, private, community and education sectors is required.
- Financial Literacy needs a more strategic approach as financial education within community groups (with low levels of financial literacy) is currently too ad hoc.
- The finance sector needs to play a larger role in improving financial literacy particularly through their existing communication with customers.
and the key themes…
- We need to understand more about how people make the jump from having financial literacy information and education to changing their behaviour around money – learning from behavioural economics.
- There is a realisation that financial education and information programmes do not guarantee a change in behaviour, especially for those aged 18-24 years as they are generally less financially literate than the rest of the population and have little interest in the topic.
- Last but not least, that for maximum impact those delivering the information need to be trusted.