MoneySmart (website)

MoneySmart is a project of the Australian Securities & Investments Commission (ASIC) that comprises a website, publications and education programs. It provides information and tools to help people make financial decisions. Its tagline is "Simple guidance you can trust".

History

The MoneySmart website was officially launched on 15 March 2011, [1] as part of the Australian Government's National Financial Literacy Strategy 2008-2010.[2]

MoneySmart replaced two other consumer websites that were previously maintained by ASIC: FIDO (www.fido.gov.au) and Understanding Money (www.understandingmoney.gov.au). FIDO was launched by ASIC in 2000 and stood for "Financial Information Delivered Online".[3] In July 2008, the Australian Government transferred the functions of the Financial Literacy Foundation to ASIC, including managing and maintaining the Understanding Money website.[4]

Funding rounds

Not to be confused with MoneySmart.sg, Moneysmart.gov.au did not do the following. The following was done by MoneySmart.sg. In October 2015, MoneySmart raised $1.96 million in Series A funding led by Singapore Press Holdings. Golden Gate Ventures, Convergence Ventures, and OPT SEA also participated in the round.[5]

Products and services

This is also MoneySmart.sg not moneysmart.gov.au. The MoneySmart website covers a range of financial topics including managing money, borrowing and credit, retirement, investing, scams, and life events. It has around 25 tools and calculators that people can use to help them understand the issues they face and make better financial decisions. In August 2012 a free Money Health Check was added to the site which provides people with a personalised assessment of their financial health. As well as the online calculators, there are mobile calculator applications for the Android OS, the Apple iPhone, Windows Phone and BlackBerry OS.

MoneySmart publishes a monthly e-newsletter called MoneySmart Tips,[6] and has a social media presence on Facebook, Twitter and YouTube.

References

  1. ↑ 'MoneySmart launch' ( 15 March 2011) MoneySmart
  2. ↑ Australian National Financial Literacy Strategy (March 2011) National Financial Literacy Strategy
  3. ↑ 'FIDO will help you find what you need' (21 August 2000) Australian Securities & Investments Commission
  4. ↑ 'Treasurer announces ASIC to take on Financial Literacy' (13 May 2008) Treasury Ministers Portal
  5. ↑ Shu, Catherine. "MoneySmart Raises Series A To Bring Personal Finance Tools To Southeast Asia’s Growing Middle Class". www.techcrunchcom. Retrieved 14 October 2015.
  6. ↑ MoneySmart eNewsletter MoneySmart
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