According to a survey by Queensland University of Technology, men and women lack a basic understanding of key concepts, like compound interest on credit cards, home loan interest rates and why you should diversify investment porfolios. However, the survey did find that men overall, had a better level of financial literacy than women.
The survey also found that 20% of the respondents did not think superannuation was their money, while 20% did not know how much super they had. Even people with a high financial literacy do not understand risks.
Intellichoice aims to equip everyone with the knowledge to take control of their finances and achieve their financial dreams. Our webinars will help you take the first step to improving your spending habits, increase your savings and develop skills that can assure long-term success. Visit the Intellichoice website for more details on the webinars.
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