New grants program for financial literacy

In tough economic times, it is great to see new money becoming available for financial literacy. Financial Literacy Australia has just launched a $5.6 million grants program.  See FinLit.org.au

The money comes from corporate donations as part of legal settlements with ASIC, the financial services regulator. This is similar to the main funding source behind the FINRA Foundation in the USA and the Investor Education Fund in Canada.

Other countries may like to follow this example.  Instead of fines being paid to the government, the money helps the community directly.