The Financial Literacy Core Competencies for Malaysian Adults (FLCC) document was formulated by the Financial Education Network (FEN) and comprises a wide range of financial literacy outcomes for improved financial management in the everyday life of Malaysian adults. The FLCC document aims to:
- Provide high level guidance on breadth of financial literacy competencies in designing financial education initiatives,
- Emphasise on financial literacy outcomes according to knowledge, behaviour and attitudes, and
- Provide options on competencies relevant in different ways across various target groups.
The FLCC document contains beneficial insights on the desirable traits of Malaysian adults aged 18 and above, including longer-term habits and practices for consistent and effective money management. It is useful as a reference to develop well-designed and targeted financial education programmes for Malaysian adults in all life stages. Relevant financial literacy competencies can assist in efforts to refine the design of existing programmes and to identify gaps in financial education initiatives. In addition, the relevant competencies facilitate the development of monitoring tools to measure progress and success of the initiatives implemented.
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