Despite calls by consumer advocates for Australia's governments and financial services institutions to provide consumers with resources to help them understand how the financial services sector operates, financial education remains something that most Australians gain by default. Research conducted in the United Kingdom and United States, has identified the social and economic factors that have necessitated financial literacy, documented the problems faced by disadvantaged and illiterate consumers in dealing with the financial services sector, and provided information for the debate about consumer education and financial literacy. Australia's deliberate government policy of deregulation and economic rationalism, poor educational resources, and lack of concern on the part of the financial services sector have all been key factors in generating the conditions necessary to create social exclusion and alienation. The following groups are particularly susceptible to the financial exclusion that stems from illiteracy and lack of financial literacy: low-income consumers; older consumers; consumers from non English speaking backgrounds; consumers with disabilities; consumers with literacy difficulties; and indigenous consumers. Given all the reasons for financial exclusion in Australia, a protracted effort must be instituted whereby Australian government, industry, and communities will learn to recognize the central role that access to literacy plays in the communities' and individuals' well-being. (69 references) (MN)