Older Australians will be able to access plain-English information and online tools on a new Government website to help them get on top of their finances and plan their retirement.
MoneySmart.gov.au, developed by the Australian Securities and Investments Commission (ASIC), gives people free access to a toolkit of online resources, including budget planners, credit card and mortgage calculators and comprehensive information about superannuation and retirement planning.
Parliamentary Secretary to the Treasurer, David Bradbury, joined Member for Kingston, Amanda Rishworth to launch the MoneySmart website at the Stables Christian Centre's new Gillard Government-funded seniors internet kiosk.
"This website is a great tool, not only for older Australians but for people of all ages, to see how different life events will impact on their finances," said Mr Bradbury.
"There are 26 calculators and tools, including specially-designed mobile phone apps, to help people find the answers to their questions about money.
"The website is free and easy-to-use and can be accessed from home or public libraries and neighbourhood centres.
"Older Australians will be able to read information in plain-English about a range of superannuation and investment products as well as work out a budget and calculate how much retirement income they can expect.
"Whether you are signing up for your first mobile phone contract, starting a family or saving for retirement, the MoneySmart website offers independent, unbiased guidance."
Ms Rishworth said that a better understanding of personal finances can empower people to make better choices.
"The Gillard Government wants people to be better informed about the choices they make so that they can take control of their own finances," she said.
"We think it's important that people take into account all of the risks and benefits before making decisions on their finances.
"It doesn't matter how young or old you are, it is never too late to take a financial health check. Understanding more about your financial health can help you set goals and be more engaged.
"Often the first steps are the hardest to take, but something as simple as working out a household budget with the help of MoneySmart can make a big difference."
Go to www.moneysmart.gov.au to see the full range of calculators and online tools. You can also follow MoneySmart on Facebook and Twitter, and sign up for a free eNewsletter.
4 April 2011