This report presents the results of the third national survey of financial knowledge levels of adult New Zealanders. The Commission for Financial Literacy and Retirement Income, with the support of ANZ, commissioned Colmar Brunton to carry out the survey in 2013 as a follow-up to the 2009 and 2005 surveys. This year the survey scope was expanded, to encompass financial behaviour as well as financial knowledge.
Key objectives of the 2013 survey are:
- to identify areas of low financial literacy (either by topic or population) and therefore assist educators to improve financial literacy in those areas
- to identify sources/channels of financial education used by New Zealanders
- to assist the financial services industry to identify where products or services are misunderstood or confusing to consumers and thus be able to improve design or communication
- to measure changes in financial knowledge levels since 2009 in order to adapt education programmes and the design or communication related to financial products and services
- to make comparisons with financial knowledge surveys carried out in other countries
- to explore links between financial knowledge and financial behaviour
- to assist the Commission in identifying areas of further research.