ASIC’s Moneysmart has published Money tips in other languages to help newly arrived migrants understand how money works in Australia.
Financial decisions can be complex and overwhelming, particularly for newly arrived migrants to Australia. The new resources were translated into 10 languages, including Arabic, Burmese, Simplified Chinese, Traditional Chinese, Dari, Farsi (Persian), Hazaragi, Swahili, Thai and Vietnamese.
Eight topics were selected to explain money concepts in Australia:
- Money and working in Australia
- Budgeting and saving
- Spending and paying bills
- Credit and debt
- Beware of scams
- Tax in Australia
Almost 10 million Australians visited the Moneysmart website in 2022-23 for information to make financial decisions, often driven by life events or when facing financial firsts.
These resources support ASIC’s approach to provide in-language resources for consumers to help them make informed financial decisions.