Improving financial literacy in Australia: benefits for the individual and the nation

A Commonwealth Bank Foundation study of the economic and social impacts of financial literacy in Australia.

In 2004, the Commonwealth Bank Foundation commissioned research to investigate people’s ability to make informed and responsible financial decisions and to examine relationships between financial literacy and its impact on individuals.

The research revealed a profile of those Australians with lowest levels of financial literacy and demonstrated potentially significant benefits from increases in financial literacy for individuals and the Australian economy.