Where do we get it? At high school? From our parents? ALISDAIR BARR wonders why financial education was never part of the curriculum & provides employee programs to help Australians get some of it …
Where do we get it? At high school? From our parents?
That is great if your parents are financially sound and not contributing to the current one trillion dollars in retirement shortfall as suggested by the Financial Services Council.
So if we are not receiving financial education in our home or school learning environments, then where do we get it? Traditionally Australians will wait until there is a need which is often too late, ie retiring, being retrenched, sick or inheriting.
A Mercer’s study suggests that nearly half of working Australians believe their employer has at least some responsibility to provide them with information to help plan for their retirement. This will only gather greater momentum as the baby boomer group retire and the next generations start to think about it.
As we all know prevention is better than cure. How can we improve these Australian financial distress facts?
- # 1 cause of relationship break down
- Higher debt to disposable income ratio than any other country in the developed world
- Aussies love credit cards and living beyond our means, and
- Aussie ‘she’ll be right’ attitude causing under insurance issues
Does your employer provide financial education in the workplace? Financially confident employees bring huge benefits and greater focus and productivity to a business. Imagine the lost productivity and stress that financial pressures can have on employees and the opportunity for an employer to prevent this.
Alisdair Barr is the Managing Director of Future Map, a fun and dynamic workplace program assisting organisations to better engage their talent through providing practical and fun financial and life planning skills. www.futuremap.com.au
