Financial Literacy Policy Trends

The term financial literacy refers to knowledge, attitudes, and behaviour around money matters. Low levels of financial literacy are a policy concern, as evidenced by various recommendations from international organisations and action amongst national policy makers. This paper looks at two trends in the policy narratives around financial literacy. It discusses 1) a shift in content and delivery, to incorporate digitalisation and 2) a shift in focus, so that policies are more clearly aligned with the goal of increasing financial well-being. It argues that policy makers should now explicitly address financial well-being in the digital environment, considering both supply and demand-side issues.