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"How badly do you think the police will arrest you because you haven't paid the bill?"

The endemic use of local Australians is well documented, but it is expected that in the final report of the Hayne King's Commission it will be a bit more than it has passed to the government today.

The lack of financial literacy has been fueled by more than a century of European restrictions on the ability of indigenous peoples to hold their money, intergenerational generation, low levels of education, geographical constraints and the perception that the financial world is limited.

"You can't be what you can't see," said Benson Saul, who at the age of 15 was the third indigenous trainee ANZ more than a decade ago. Australian Youth Representative at the United Nations in 2011.

"There was little generational understanding of earning money, saving and planning."

Mr Saulo, who is currently a partner in the financial services company Australian unity wealth and capital markets, said unscrupulous entrepreneurs because there is a real market that is not properly served.

"We know for sure that there is a sector that is financially vulnerable, that banks and other financial services cannot or do not want to get involved," he said. "It's too tough in the basket or doesn't even know where to start."

The result has been a chronic bad financial result for the local population.

On average, the local Australian old-age pension balance is half of the non-citizen population.

Super is their biggest asset and only savings, but for those who live remotely, they only have about 2% chance of navigating the system. In two weeks, First Nation pop-up Big Super Day Out events, which were over $ 14.5 million, lost super more than 1,000 local workers.

According to the information provided by the Australian Securities and Investment Commission, up to 50 percent of funeral insurance is sold to aboriginal consumers under the age of 20, who are the same as non-indigenous people over the age of 50.

The demand for financial advisers is already so strong among those in Arnhem, Cape York and other remote communities where they need to turn to two of the five in search of help. The First Nations Foundation hopes that the royal commission will call for the establishment of a local financial center, a service that has existed in the US and Canada for over 20 years.

The Cape York partnership consultant and general manager, Audrey Deemal, has seen her clients sign contracts for water jets at $ 14 per week just to deliver and never refill. photos of children that last for years to pay off, and only when the child is a child.

"The emotional stress of these debts leaves them panic," she said. "How bad can it be, socially and emotionally think that policemen are going to come and arrest because you haven't paid the bill?"

Yorta Yorta Man Ian Hamm, President of the Victorian Aboriginal Community Health Organization and First Nations Foundation, said the royal commission's scope and limited time available meant that he was going to be disappointed with its recommendations.

In September, an interim report found that "core transactions" were confusing because local Australians had not been properly recognized by financial institutions and that this evidence was evidence of predatory behavior.

Mr Hamm said that the industry should not only check charity, but also develop the results of indigenous peoples in their core business unit by building financial skills.

First President of the Nations Ian Hamms.

First President of the Nations Ian Hamms.Credit:Justin McManus

"We need to start talking about the future of the Aboriginal economy, not just about the individual stories about the financial difficulties the Commission has restricted," he said.

"Solving serious problems is convenient and lazy, but you'll never get anywhere – a good day is just to make sure things don't come back."

Ms. Young said she was "so tired of the Aboriginal side who just got into the poverty conversation".

"The first peoples are doctors and lawyers," she said. "I've had doctors who call me who say they don't know what to do with their money."

Eryk Bagshaw is an economic correspondent for Sydney's morning herald and era.

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