Saturday, May 5th, 2012 - Money101
4th May 2012 – Money101 has successfully highlighted best practice in Australian online financial literacy education at a key conference run by the Institute for Financial Literacy during financial literacy month in the USA. Over 250 financial educators and counsellors attended the Annual Conference on Financial Education, providing Money101 with an exciting opportunity to showcase Australia’s leading online financial literacy education.

A highlight of the conference was the Day Two panel session ‘Financial Literacy around the World’ which provided insights from the UK, Malaysia and Holland with speakers discussing how they were applying new ways to teach financial literacy. This panel cemented the belief that financial literacy is most certainly a global problem; that it affects all of us; and that the key to overcoming the issues is to educate our kids as it is much easier to teach good behaviours than to change bad ones. The key concepts that appeared to be working within childhood financial education were: simplicity – a less is more approach; providing an element of surprise – using online/offline sessions of no more than 10 minutes duration, using emotion, motivation and incentives for kids to attend and, most of all, telling stories as children relate and respond well to these.

Day Three of the conference provided presentations confirming that an absolute appetite for financial information and support currently exists and that financial educators and professionals such as Money101 have a unique opportunity to help meet this need. One consistent message was that people really want control of their finances and, most of all, they want simplicity. Underpinning all of this was that people learn by ‘doing’ – most people know what they need to be doing, they just don’t know how to do it. This is signalling a shift from skills-focussed education to behaviour-focussed education with the $aveNYC financial literacy program indicating that people certainly can take on better financial behaviours simply through the experience of successfully saving money.

The presence of Money101 as the only Australian exhibitor at this event helped to promote Australia’s efforts in producing effective financial education and provided Money101 with the unique opportunity to network with other financial education professionals and utilise key learnings to inform and enhance the provision of online financial education for all Australians.

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Money101


Money101 is an online financial education content developer established in 2004. With a passion for financial literacy, M101 has introduced financial education to many Australian corporations, industry associations and financial services institutions. The M101 program aims to enable individuals to make informed decisions about the use and management of their money using engaging and highly accessible online modules.

For further media information contact:
Laure Liger 03 8612 3100
Laure Liger
P: 03 8612 3113
W: www.money101.com.au

Keywords

Financial literacy, online education, Money101, representing Australia, money habits, teach, educating kids, saving

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