OECD warns a fifth of 15-year-olds do not have basic financial literacy and many don’t have financial literacy required to take part in society

The financial literacy of Australian 15-year-olds has deteriorated significantly since 2012, according to the Organisation for Economic Cooperation and Development.

The organisation has warned one fifth of Australian 15-year-olds does not have basic financial literacy and the share of young people is increasing who do not have the financial literacy required to take part in society.

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