ASIC to launch tools for first time financial decisions

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The Australian Securities and Investments Commission (ASIC) will launch today new tools to help 16 – 25 year olds keep their finances in check.

ASIC’s MoneySmart Rookie education initiative aims to help prepare young Australians for first time financial decisions. Resources cover a range of topics including buying a car, credit contracts and debt, and moving out of home.

‘When it comes to money matters, first-time mistakes can have significant consequences for young people’, said ASIC Deputy Chairman Peter Kell.

‘Young people want to own cars, not huge debts. MoneySmart Rookie provides resources specifically designed to help 16 – 25 year olds make smart choices at important stages in their lives.’

MoneySmart Rookie also offers educational topics and videos for community, not-for-profit and government outreach organisations working with young people.

For further information and to access resources, visit ASIC’s MoneySmart website.

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