Financial literacy is a core life skill for participating in modern society. Children are growing up in an increasingly complex world where they will eventually need to take charge of their own financial future. As young adults learning to live independently they will need to know how to budget and make wise financial choices for everyday living, for example, choosing mobile phone and utility contracts. They will need to manage risks: save for a ‘rainy day’, avoid taking on unmanageable debt, and provide for their old age and health care. Financial products and services vary widely and, in the case of credit, can be almost too easily accessible for many of today’s young people. At the same time, these products and services are becoming more complicated and the choices more difficult. Adding to this complexity are economic and technological developments which have brought greater global connectedness and massive changes in communication and financial transactions, as well as in social interactions and consumer behaviour.