Financial literacy is the ability of inividuals to make appropriate decisions in managing their personal finances. Raising levels of financial literacy is now a focus of government programmes in countries includingAustralia, Japan, the United States and the UK. The Organisation for Economic Co-operation and Development (OECD) started an inter-governmental project in 2003 with the objective of providing ways to improve financial education and literacy standards through the development of common financial literacy principles. In March 2008, the OECD launched the International Gateway for Financial Education, which serves as a clearhouse for financial education programmes, information and research worldwide. In the UK, the alternative term “financial capability” is normally used: the Financial Services Authority (FSA) in the UK started a national strategy on financial capability in 2003. The US Government also established its Financial Literacy and Education Commission in 2003.