Working with the financial capability community

There are many participants in the financial capability community who actively contribute to successful outcomes for the recipients of services. This includes those who coordinate delivery, fund delivery, provide and/or analyse data and evidence, and do the direct engagement. The best outcomes can be achieved when these organisations share a mutual understanding of each other’s capacity to contribute and share insights on outcomes.

While Government is well positioned to reach Australians at a macro level, there is a community of organisations complementing the role of Government that undertake direct, targeted, and in depth engagement with Australians to improve their financial capability. These organisations in particular play an essential role in financial education through the contribution of specialist and up to date knowledge along with consumer insights and data. Delivery organisations are also well placed to capitalise on teachable moments related to key financial decisions and combine financial education with financial inclusion efforts.[4]

Roles and responsibilities

Figure 3: Treasury 2022, The Financial Capability Community

Commonwealth Government

  • Consult with experts as required to ensure sector and expert views are incorporated in the implementation of the Strategy.
  • Deliver or fund national financial capability initiatives.
  • Continue to deliver financial information resources – such as ASIC’s Moneysmart, Services Australia’s Manage Your Money and Financial Information Service and the ATO’s Tax, Super + You.
  • Coordinate the teaching of financial capability concepts through the school system, including as part of the Australian curriculum.

State and Territory Governments

  • Deliver financial capability education through the school system as well as deliver or fund other state based financial capability initiatives, and participate in national initiatives where agreed.


  • Undertake and share research based on data and evidence.
  • Support other groups to understand financial capability issues and develop, deliver and evaluate financial capability initiatives and outcomes.

Financial service providers 

Financial service providers are uniquely placed to understand the financial wellbeing and spending and savings patterns and behaviours of individual Australians to support a data driven approach on how to build the financial capability of Australians. Recent developments in banking and finance platforms allow digitally engaged consumers to manage their finances and easily keep track of where their money goes. In filling the gaps in the evidence base there is a role for financial providers to help the broader financial capability community to understand the impact of these developments on individual capability and outcomes. 

Financial service providers can deliver financial capability initiatives to their customer bases or partner with other organisations to deliver financial education more broadly. 

Delivery organisations 

There is a range of entities including charities and not for profit organisations undertaking direct engagement with individuals whether this is through the co design of programs or those delivering financial capability training as part of financial counselling or other support services. Delivery could also be through more distant engagement, such as financial capability training through online technology. Delivery organisations such as financial counselling services are particularly important for providing individuals with one on one support and capability building. 


One relationship that offers significant potential for the delivery of financial capability services is that of employer and employee. Given the significance of an employer to an employee’s financial outcomes and the large amount of time shared between the two, employers can contribute to the financial capability of their employees by delivering financial capability education to their staff or promoting services and providing information about services which are available to support financial decision making. Employers can also provide tailored advice and information unique to an individual’s employment conditions and circumstances. Providing tailored support or information to employees at a time when it is most needed can have a lasting behavioural impact. 


[4] OECD/INFE Guidelines on Private and Not for profit Stakeholders in Financial Education, guidelines private not‑for‑profit financial education.pdf (