MoneyMinded, ANZ’s financial education program, has reached over 667,000 people in Australia and across the Asia Pacific region since 2002. The program has played an important role in strengthening the financial capabilities of individuals, households and communities.
In 2019, 63,978 people in Australia participated in MoneyMinded. This report provides evidence that MoneyMinded has improved the financial wellbeing of participants in Australia.
This report is based on data collected from MoneyMinded participants in Australia by an online survey (n = 365), three discussion groups (n = 32) and in-depth interviews with two participants. Discussion group and interview participants were recruited from the Brotherhood of St Laurence’s Stepping Stones program in Dandenong, Epping and Flemington.
The outcomes described in this report are based on the 365 surveys completed by MoneyMinded participants in Australia. Most survey respondents (81%) were women, 75% were employed and 25% earned less than AUD$50,000 per annum.
To have financial wellbeing means being able to meet financial commitments and feel financially comfortable to make choices that allow you to enjoy life. It also means having financial resilience for the future, including being able to cope with unexpected expenses. The behaviours and attitudes associated with financial wellbeing are saving, planning, financial confidence, spending restraint and setting goals for the future.
SOURCE: Russell, R., Kutin, J., Stewart, M. & Welwood, M. “MoneyMinded impact report: Australia.” A report prepared for ANZ. School of Economics, Finance and Marketing RMIT University, November 2019.
The Brotherhood of St Laurence acknowledges and recognises the Traditional Owners of the land upon which we live and work, and we pay our respects to their Elders both past and present.
ACKNOWLEDGEMENT OF COUNTRY
The Brotherhood of St Laurence acknowledges and recognises the Traditional Owners of the land upon which we live and work, and we pay our respects to their Elders both past and present
Produced by the librarians at the Brotherhood of St Laurence in Melbourne, Australia