12 June 2012
What does financial literacy really mean for individuals, business and the economy?
Did you know that annual personal and household income is related to financial literacy?
In 2004, the Commonwealth Bank Foundation commissioned research to investigate people’s ability to make informed and responsible financial decisions and examine the relationships between financial literacy and its impact on individuals. The research showed that it is likely that the higher a person’s financial literacy score, the higher their annual income. Those with higher financial literacy are also significantly more likely to have owned a business.
Read more on the results of our Financial Literacy Research.
So what are we doing about it?
Our StartSmart programs ensure the Commonwealth Bank Foundation communicates to young people in a way they understand and engages them in an interactive, fun and highly educational experience at a time when money is starting to play a big role in their lives.
Since its inception in 2007, StartSmart has reached over 120,000 students across Australia and this year, with the introduction of our Primary Program, StartSmart programs will reach more young people than ever before.
To find out more, visit www.startsmart.com.au
Commonwealth Bank in the Community
We realise that we are part of the broader community. One of the four key tenants of our vision is be respected and admired in our community. Watch our initiatives and how we support the community through our grants and programs.
See the Not For Profit Organisations in each state that received our grants.