The Australian Securities and Investments Commission has launched a range of tools that will help younger clients keep their finances in check.

The MoneySmart Rookie education initiative is geared toward 16 to 25-year-olds and aims to assist young Australians prepare for first time financial decisions. Resources cover the likes of buying a new car, credit contracts and debt and moving out of their parents' home.

"Young people want to own cars, not huge debts. [The product] provides resources specifically designed to help them make smart choices at important stages in their lives," commented Peter Kell, ASIC deputy chairman.

The launched is scheduled for 18 June at the Aerial Function Centre of the University of Technology in New South Wales.