Code: 3.1.2 · Adults
Aware of possible risks with financial implications (political, economic, environmental and personal factors such as long life expectancy)
Knows why it is important to be aware of low-probability, high-cost events, such as risk of climate-related events
Aware of the (possible) risks related to financial products, including: making inappropriate product choices, using variable interest rate products, committing to fixed interest rates in a variable interest rate environment, and taking out products in foreign currencies
Assesses the financial risks associated with personal decisions, life choices, and external events
Considers the risks of significant projects or purchases
Takes into account the risk of changes in circumstance, including job loss, increased outgoings, or other external events
Takes into account the risk of losing some or all household income through ill-health, disability or death of a family member
Takes into account the types of risks from different financial products
Motivated to mitigate risks when necessary
Confident to make considered decisions when risks become apparent