be extremely important to build and preserve confidence in the use of digital financial services. learning how to use digital financial services safely is just one dimension. an important goal of improving digital financial literacy is also to help individuals make better use of digital financial services to improve their financial well - being. with an explosion of digital tools that can help individuals plan and manage their finances better, a much wider range of financial solutions, and easier access to financial advice - financial literacy, including digital financial literacy, is critical to help individuals navigate the complexity that comes with more choice. faced with the same set of choices, individuals armed with the knowledge and skills to make good choices and good use of facilities available to them could significantly improve their standard of living, while others who make poor financial choices could be plunged into personal financial hardship. 15. the financial literacy month this year aims to amplify the importance of digital financial literacy in helping malaysians build financial resilience, and enable them to participate fully in the digital economy with confidence. our efforts should reduce the digital divide, expand accessibility, and strengthen individual skills to manage money wisely. 16. it would be a mistake, however, to think that we can hope to provide all the knowledge and information needed, at exactly the right times, for individuals to successfully navigate the digital financial landscape. rather, our job as a financial education community is to help people become comfortable with the language and ways of digital financial services - much like learning how to get around and get things done in a new city. then individuals will be far better able to adapt to the continual changes brought about by new technologies and empowered to know what to look for, where to look, and how to make sense and use what they find to their best advantage. this is not achieved in one month or over the few days that our teams will be spending in each location on the roadshow. it requires sustained efforts on our collective part to help your customers, the schools and organisations that you work with, and the public at large, build greater confidence in using financial services effectively. 17. financial education is absolutely central to the goal of making sure that finance works for the people. today, more than at any time before, our society needs the right 3 / 4 bis - central bankers'speeches knowledge and skills to manage their finances. saving for retirement, borrowing responsibly, investing wisely, and protecting against financial harm will build resilient households. resilient households, in turn,

will promote financial stability and healthy economies. ultimately, the focus of financial education is all about improving individual financial well - being and how we can support individuals to achieve that. john adams, who was the second president of the united states, once said, " all the perplexities, confusions and distresses in america arise not from defects in their constitutions or confederation, not from a want of honour or virtue, so much as from downright ignorance of the nature of coin, credit and circulation. " 18. thank you very much for being with us here today to kick off the financial literacy month 2022. 4 / 4 bis - central bankers'speeches