Research

For a more comprehensive list of financial literacy research, see the list of references in ASIC's Financial Literacy Strategy and its accompanying research report, Financial Literacy and Behavioural Change, available below.

This list is limited to studies cited in ASIC's Financial Literacy Strategy, and key research.

Australian research

This list is limited to large-scale studies ASIC has been involved in, and key research.
 2011 ANZ Survey of Adult Financial Literacy in Australia
ANZ and Roy Morgan Research
December 2011
See report on the ANZ website		 The findings of the fourth ANZ Survey of Adult Financial Literacy in Australia. The survey of over 3,500 adult Australians focussed on behaviours indicative of a person's financial literacy, and links between those behaviours and a person's demographic characteristics.
  Measuring Financial Exclusion in Australia
 The Centre for Social Impact for National Australia Bank
May 2011
See report on the NAB website		 This research aims to measure financial exclusion in Australia, and in doing so to define and deepen the understanding of financial exclusion in Australia and its relationship with social and economic disadvantage. It is based on on a number of sources, including a survey of over 50,000 Australians.
  Financial Literacy and Behavioural Change
ASIC
March 2011
Download report		 A stock-take of what ASIC and others have learned about financial literacy to date based on research about people's financial knowledge and behaviour, and the strategies and tools that might influence financial decision-making. It includes a comprehensive list of other financial literacy research sources.
2010 Evidence Versus Emotion: How Do We Really Make Financial Decisions?
 Citi Australia and The Australia Institute
December 2010
Download report		 Drawing on the results of an online survey of 1,180 adult Australians in October 2010, this report assesses the variety of ways Australians make financial decisions. It draws on the emerging field of behavioural economics to shed light on why people do not behave as rationally as economics textbooks would suggest.
2008 ANZ Survey of Adult Financial Literacy in Australia
ANZ and the Social Research Centre
October 2008
Download report		 The findings of the third ANZ Survey of Adult Financial Literacy in Australia. This survey of 3500 adult Australians monitored the benchmark measures, including direct measures of financial literacy, and attitudinal and behavioural information.
Financial Literacy: Women Understanding Money
Financial Literacy Foundation
April 2008
Download report		 This report examines the gender findings from Financial Literacy: Australians Understanding Money data (see report below). In particular, it focuses on the 4,138 women aged over 18 who were surveyed in the original study.
2007 Financial Literacy: Australians Understanding Money
Financial Literacy Foundation and DBM Consultants
September 2007
Download report		 The findings of a survey of 7,500 Australians aged 12 to 75 who were asked to self-assess their money management ability, understanding, attitudes and behaviour.
2005 ANZ Survey of Adult Financial Literacy in Australia
 ANZ and AC Nielsen
November 2005
See report on the ANZ website		 The findings of the second ANZ Survey of Adult Financial Literacy in Australia. This survey of 3,500 adult Australians monitored the benchmark measures, including direct measures of financial literacy, and attitudinal and behavioural information.
2003 ANZ Survey of Adult Financial Literacy in Australia
 ANZ and Roy Morgan Research
May 2003
See report on the ANZ website		 The findings of the first ANZ Survey of Adult Financial Literacy in Australia. A survey of the financial literacy levels of more than 3,500 adult Australians conducted to establish benchmarks for the ongoing measurement of financial literacy across the Australian population.

International research

This list is limited to research cited in ASIC's Financial Literacy Strategy.
2010 Money Guidance Pathfinder - Key Findings and Lessons Learned
Consumer Financial Education Body (CFEB), United Kingdom
July 2010
See report on the University of Bristol website

Findings from the £12m Money Guidance Pathfinder project. It targeted regions of England from April 2009 to March 2010, and was delivered through three channels: the Moneymadeclear website, a telephone helpline, and face-to-face sessions.

This is a summary of two reports: the project evaluation report, and a summary of an independent evaluation of the Pathfinder marketing and engagement approach.
Transforming Financial Behaviour: Developing Interventions that Build Financial Capability
 Consumer Financial Education Body (CFEB), United Kingdom
July 2010
See report on CFEB website		 A report on research into ten behaviour interventions and their effects as drivers of improved financial capability. It shows how psychology and sociology can be applied alongside more traditional policy interventions to foster behaviour change.
2008 Financial Capability: A Behavioural Economics Perspective
 Prepared for the Financial Services Authority, United Kingdom, by David de Meza, Bernd Irlenbusch and Diane Reyniers, London School of Economics
July 2008
See 'report No. 69' on CFEB website		 A review of behavioural economics literature on the likely impact of financial capability initiatives on behaviour.
The National Strategy for Financial Literacy
The Retirement Commission, New Zealand
June 2008
See report on Retirement Commission website		 The strategy aims to achieve a financially literate population where New Zealanders are financially well-educated and can make informed financial decisions throughout their lives.
2006 Levels of Financial Capability in the UK: Results of a Baseline Survey
Prepared for the Financial Services Authority (FSA), United Kingdom, by Adele Atkinson, Stephen McKay, Elaine Kempson and Sharon Collard, Personal Finance Research, University of Bristol
March 2006
See 'report No. 47' on CFEB website		 The results of the FSA survey to measure levels of financial capability in the UK.
2005 Measuring Financial Capability: An Exploratory Study
Prepared for the Financial Services Authority (FSA), United Kingdom, by Personal Finance Research, University of Bristol
June 2005
See 'report No. 37' on CFEB website		 The exploratory study by the FSA to design a questionnaire that could be used to measure levels of financial capability.

For more information on international research and other financial education developments, visit the OECD International Gateway for Financial Education (IGFE).

Last updated: 18 Jan 2013