Table of Contents
Financial Literacy #
Building financial confidence helps newcomers understand Australia’s banking system, manage everyday expenses and make informed financial decisions.
At a glance #
- Australia’s banking system may be unfamiliar to many newcomers.
- Building financial confidence supports long-term independence and wellbeing.
- Practical financial literacy resources are available through the CRSA Community Hub.
Understanding Australia’s financial system #
Financial literacy resources
Managing money in a new country can take time. Some newcomers may be unfamiliar with Australia’s banking systems, including bank cards, direct debits, online banking and electronic transfers, particularly if they previously relied on a cash-based economy.
CRSA’s Community Hub provides practical financial literacy and budgeting resources to support newcomers as they build confidence managing everyday finances.
Financial Literacy and Budgeting:
https://communityhub.refugeesponsorship.org.au/zcs/manual/preparing-for-month-one/article/financial-literacy-and-budgeting
CRSA’s Community Hub provides practical financial literacy and budgeting resources to support newcomers as they build confidence managing everyday finances.
Financial Literacy and Budgeting:
https://communityhub.refugeesponsorship.org.au/zcs/manual/preparing-for-month-one/article/financial-literacy-and-budgeting
Building financial confidence #
Developing confidence with everyday banking and budgeting takes time. As newcomers become more familiar with Australia’s financial systems, they are better equipped to manage their own money and make informed financial decisions.
Feeling in control of personal finances can also contribute to a greater sense of independence, stability and overall wellbeing.
“Building financial confidence is an important step towards independence and successful settlement.”
