MetLife Foundation has awarded a US$110,000 grant to the Financial Basics Community Foundation (FBCF) to support a new financial literacy program for disadvantaged young Australians.
The initiative, called the Financial Literacy Life Skills Resources Project, is designed to help young people with low literacy and numeracy skills develop essential financial knowledge and resilience.
The grant will enable FBCF, which operates under the not-for-profit Financial Basics Foundation (FBF), to adapt and expand its existing educational materials.
These resources will be tailored for use in schools and community organisations that work with vulnerable youth, with the goal of promoting sound financial behaviours and supporting long-term well-being.
The Financial Literacy Life Skills Resources Project is intended to provide practical, accessible tools to help young Australians make informed decisions about managing money.
The program will focus on building confidence and skills among those who may face additional barriers to financial independence.
Katrina Samios, CEO of Financial Basics Foundation, said the grant will help address a critical gap.
“We know that a lack of financial literacy can have a serious impact on a young person’s well-being, particularly those with low literacy and numeracy skills. Without the tools and confidence to make informed financial decisions, these young Australians are more vulnerable to hardship and exclusion. This grant from MetLife Foundation allows us to bridge that gap by developing practical, inclusive resources that meet these young people where they are, giving them the knowledge and confidence to build a secure and independent future,” she said.
The initiative is consistent with MetLife Foundation’s global focus on advancing financial health and supporting underserved communities.
“Our purpose as an organisation is to build a more confident future for young people, and this grant will help some of our most vulnerable young people," said Richard Nunn, CEO of MetLife Australia. "Financial literacy is a critical life skill, and this project can help support building a confident future and uplift young Australians’ financial well-being.”
The project will begin with a pilot phase to test and refine the educational materials, ensuring they are effective for young people with varying literacy and numeracy abilities.
FBCF will work in partnership with educators and community workers to ensure the resources are practical and adaptable across different learning environments.
The full rollout of the Financial Literacy Life Skills Resources Project commenced in May 2025.
MetLife targets financial literacy as the sector faces knowledge gaps. A recent survey by NobleOak has found that 60% of Australians now have life insurance, up from 55% in the previous year, according to the 2025 NobleOak Life Insurance Pulse Report.
Despite the increase in coverage, the report highlighted that many policyholders remain uncertain about key insurance terminology.
The survey revealed that only 30% of respondents understood the meaning of “fully underwritten” life insurance, even though half of all participants held a policy.
Of those familiar with the term, 44% considered fully underwritten policies very important, while 54% saw them as somewhat important.
