Financial literacy for life

What is financial literacy?
Financial literacy is the ability "to make informed judgements and take effective decisions about the use and management of money" (UK National Foundation for Education Research, 1992).

How is the Commonwealth Bank helping?
The Commonwealth Bank recognises that education, in particular financial literacy education, is the key to a more secure and financially stable Australia.

That is why we have been supporting education for more than 70 years through activities such as our Student Banking program, DollarsandSense and Know Your Money websites, investor education seminars, and the Banking Made Easy program, to name a few.

The Bank seeks to empower Australians – with a special focus on young Australians – to develop financial literacy skills that will stand them in good stead throughout their life.

Recognising that acquiring and updating financial literacy skills is a lifelong process, the Commonwealth Bank offers the following programs:

Financial Literacy Programs

Commonwealth Bank Foundation
The Commonwealth Bank Foundation seeks to encourage developments in education, with a particular focus on the financial literacy skills of young Australians.

DollarsandSense website
This website provides objective and unbiased financial management information on a range of important money management topics for young people aged 14-17 years.

Know Your Money website
This website provides objective and unbiased financial management information on a range of important money management topics for young people aged 18-24 years, including studying, travelling, buying a car, moving and starting work.

Student Banking
Student Banking provides fee-free banking accounts aimed at encouraging young people to save and the convenience of conducting their banking at school, teaching them the principles of banking and sound money management.

Practical guides for our customers
Guides including tips on using credit cards, managing finances online and making banking easy. Two-hour workshops on different investment topics are also offered by Commonwealth Securities (CommSec).

Banking for Older Australians
An online learning centre developed with the NSW Council on the Ageing to provide senior Australians with access to and assistance with online technology such as computers and the Internet. Seminars by retired bank officers about making banking easier are also available.