A new book has been launched to help young Australians learn about managing their financial affairs and how to achieve ‘real wealth’.
The book, called Fables of Fortune (a young person’s guide to financial success), tells the story of financial education through the experiences of two Australian teenagers, and uses the lessons from 12 of Aesop’s Fables as its basis.
The book’s author, Michael Milne, says many of Aesop’s Fables have strong financial themes, citing two examples:
- ‘The Hare and the Tortoise’, which is used to advocate regular investment over the long term to reach your goals
- ‘The Milkwoman and Her Pail’, which is intended to warn prospective investors about placing all their wealth in one area
Mr Milne suggests that financial literacy has been in the spotlight for a few years now, but that there has been very little reading material specifically for teenagers:
this topic could be of interest to … those in the finance industry who are keen to improve their customer engagement
“Fables of Fortune is designed to fill this gap and ‘help the medicine go down’ more easily for young people,” said Mr Milne, adding that this topic could be of interest not just to parents and grandparents of kids aged 12 - 17, but also teachers and those in the finance industry who are keen to improve their customer engagement.
As well as considering the value of sound investment, the book also uses one of Aesop’s Fables to highlight the role of life insurance and its importance in protecting the assets and lifestyle of the investor and his/her family and business.
Deb Doolan, Manager Education & Development at Suncorp, backed Fables of Fortune, saying “I gave Fables of Fortune to my twin teenagers to read … a few days later I had both of them asking if I had a financial planner and telling me how they had to start putting away their money now to save for the future. Inspiring words for a parent to hear!”
Advisers and others wanting more details about Fables of Fortune can take the following link: Fables of Fortune, and can visit the book’s website at: www.fortunefables.com.au.
