FNF launches indigenous financial literacy program
First Nations Foundation (FNF) has launched a digital financial literacy education program to help First Nations people develop financial knowledge.
My Money Dream had been developed by indigenous people from 10 years of face-to-face delivery by the foundation working with the community to create a validated training program.
The program was developed with support from Indigenous Business Australia and Australian Unity, to help First Nations people aged 16-60 understand financial concepts in a way inquire to indigenous people.
It covered money and culture, budgeting, banking, superannuation, insurance, loans and credit, buying a home, buying a car and financial first aid.
Amanda Young, FNF chief executive, said they discovered from their research that nine in 10 indigenous people no financial security.
“This cannot be transcended without financial literacy, and we are enlisting the help of government and industry to help reach and build a financially-savvy Indigenous population,” Young said.
“We are asking financial services who want to connect with their Indigenous members to buy My Money Dream and offer it, as a powerful way to build skills and trust.”
“We ask governments to help prepare our Indigenous workers of the future with money skills, for people on cashless welfare cards to skill up and exit that system and for employers to attract and retain their Indigenous staff with this professional development tool."
AUTHOR
Chris Dastoor
Recommended for you
ASIC has banned a Queensland adviser from providing financial services for five years after failing to provide appropriate advice that was in the best interest of his clients.
Minister for Financial Services, Stephen Jones, has said it is not a “backdoor attempt” by the government to allow the new class of adviser to provide full advice.
The financial advice industry has seen a net loss after 10 consecutive weeks of net growth in adviser numbers, according to Wealth Data.
Only 11 per cent of financial advice practices have said they are including crypto products on their approved products lists, according to CoreData.
