This presentation by David Kneebone was made during session 4 at the High-level Conference on Global and European Trends in Financial Education held on 22-23 May 2014 in Istanbul, which explored the role(s) of the private and not-for-profit sectors in financial education, financial literacy and innovation for young people and financial education for migrant workers and their families. Find out more at http://www.oecd.org/daf/fin/financial-education/2014-conference-global-european-trends-financial-education.htm

1. Session 4: What are the criteria for
success of financial literacy?
David Kneebone
Executive Director
High-level conference on global and European trends in financial education
22-23 May 2014 - Istanbul, Turkey

2. User
surveys
Economic
impact
reports
Market
monitor/
campaign
reports
Financial
Behaviour
Index
6 monthly
2
Research feeds into
measurement of financial literacy
Financial
Knowledge
and
Behaviour
Survey
4 yearly

3. Financial literacy competency framework
3
Competency
Foundation
knowledge
Advance
knowledge
Expected action
/behavioural outcome
Managing
debt
• Understands the
responsibilities when
borrowing money
• Understands how loans
and interest work
• Understands the
implications of debt on
budget
• Understands about
consumer credit rating
• Understands the
difference between ‘good’
& ‘bad’ debt
• Understands the long-
term impact of ‘bad’ debt
• Understands how credit
rating affects ability to get
a loan
• Understands the need to
consider individual and
household ability to
service debt before
borrowing
• Manages an appropriate
level of debt
• Plan is in place to reduce
debt - starting with
paying off high-interest
debt first
• Financial/payment
obligations are met
• The cost of borrowing
from different lenders is
compared before making
decisions
• Where possible high
interest debt is avoided

4. Financial Behaviour Index
4Source: Financial Behaviour Index

5. How we work
5
Pilot
Insights
Evaluate
Share
Mobilise
Research
Thought leadership
Behavioural economics
Deliver content
Promote and market
Inspire and influence
Engage partners
Scale up
Roll out nationally
Assess
Learn
Modify
Initiate
Test
Innovate

6. Progression of learning
6

7. Financial behaviour
7

8. Financial wellbeing
8

9. Sources of information
9
2013 Financial knowledge and behaviour survey
http://www.cflri.org.nz/research-and-reports/financial-literacy#s2.
Financial behaviour index
http://www.cflri.org.nz/sites/default/files/docs/FL-Financial-Behaviour-Index-Nov-13.pdf
Adult financial literacy competency framework
http://www.cflri.org.nz/financial-literacy/tertiary
Schools financial capability learning progressions
http://nzcurriculum.tki.org.nz/Curriculum-resources/Financial-capability
david.kneebone@cflri.org.nz (until June 11th 2014)
Ph+ 64 21 523 445