Money for Life

‘Financial literacy’ is defined as the ability to make informed judgments and effective decisions about the use and management of money. Research has shown that people with limited understanding about money matters are more likely to have lower education levels, be unemployed, receive lower incomes and have minimal savings¹.

Evidence suggests providing education about money management has become more necessary than in the past. In the 2011 ANZ Adult Financial Literacy Report, key groups identified as least ‘financially literate’ included young people aged 25 and under, those with no formal post-secondary education and those with relatively low levels of income and assets².

Certificate I in Financial Services is a short course focusing on the essentials of money management and developing skills to achieve financial goals.

The Smith Family developed a financial literacy course specifically targeted to those on low incomes. The course was created with the leadership and support of ANZ, and is based on modules available through their award winning MoneyMinded program. It consists of five 2.5 hour sessions delivered by an accredited trainer.

Completion of all five elements and an assessment results in gaining the qualification of FNS10110 Certificate I in Financial Services.

We currently offer the Certificate 1 in Financial Services in Learning for Life communities in NSW, VIC, ACT and QLD.

81% of enrolled students achieved a Certificate I in Financial Services.

• Knowledge: 79% of students post-program understood how superannuation works 3 months after completing the program
• Rights: 86% know more about their financial rights 3 months after the program
• Confidence: 91% reporting that they were confident making financial decisions 3 months after completing the program
• Behaviour: 79% use a savings plan more often 3 months after the program