The big shift provides opportunities to rethink many things, and since the GFC it’s timely to rethink financial literacy. Through such a rethink we might discover that the data we collect about it is misleading, and that the solutions we offer need to radically change.In an earlier paper in this series I said that the starting point is always the context in which people use information, so using the definition in the 2011 ANZ Survey of Adult Financial Literacy in Australia (‘the ability to make informed judgements and to take effective decisions regarding the use and management of money’ p.6), I start by asking: How do people make informed judgements and effective decisions about the use and management of money in their daily life? This is an ethnographic question and surprisingly, outside the developing world, we know very little about this.

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