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How to become financially savvy in a jiffy



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Many Australians blame the lack of financial education during the school day for the care of their worst.

Financial literature is now dotted over the school programs, especially in high school, but many adult Australians have received little if any lessons on how to be wise of them cash.

A new independent study commissioned by the Budget Direct surveyed 1000 Australian adults and found nearly three-quarters of people believe that they will be better financially now, if they had been taught more about money in school.

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It was also found four out of five people think the financial sub & # 39; objects should be compulsory in school.

Budget Direct Marketing Director Jonathan Kerr said it was "promising" to see so many Australians support mandatory financial education in schools.

"If the Australians had the support of financial literacy in school, they believe they will be better than today," he said.

"The need for financial literacy should start young and be invested in the young. It must continue to be built so you can plan your life as best you can. "

Mr Kerr said there was a lot of free resources online which could help people become more educated, especially for those who believe that lack the financial IT.

"The most important thing that you have read well before you make any financial decisions and get independent financial advice," he said.

"You should always shop around as well, and you do not have to be very financially literate to develop is the best deal you can possibly get."

MoneySmart senior executive director of the Australian Securities and Investments Commission The Laura Higgins, said financial education "is not what you missed, and you can not catch up."

"Go to the MoneySmart site that & # 39 is a good starting point to find out what questions you should ask about your financial situation," she said.

"Look at what products you have, how many credit cards you have and what interest rate you are paying. There is a better product? "

Ms. Higgins said that it is important to Australians engaged with their financial costs and realize the products they have subscribed to so that they are on top of their monetary situation.

"Talk to your friends and family & # 39; s about getting a good cause, and ask how they did it," she said.

"We need to normalize these conversations, because you can determine the financial decisions in your life that work well, and learn from their mistakes. Share that with people. "

sophie.elsworth@news.com.au

@sophieelsworth

How to get financially savvy

• Use free online resources, including MoneySmart website.

• Have something & # 39; u and friends how they manage money.

• Read the business page of the newspaper and to pay attention to business news.

• Understand where your money is going.

• Look at the fees and charges that you pay on your financial products.

• Consult an expert and independent financial advice.

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