MoneyMinded helps 54,000 better manage their money
Award-winning financial literacy education program, MoneyMinded, increased the financial capabilities of more than 54,000 people across Australia, New Zealand, Asia and the Pacific in the year to September 2014.
The annual impact report released today by RMIT University found uptake of the program increased by 25 per cent, with participation up from 43,646 to 54,879.
The research highlights the success of the recently launched online version of the course with participants experiencing significant shifts in their behaviour and attitudes towards money.
ANZ Head of Corporate Sustainability and Financial Inclusion Jane Nash said: “We’re very pleased to see MoneyMinded online achieve such positive results; it will improve access and convenience for people who may find it difficult to attend workshops in person.
“Having the skills, knowledge and confidence to manage your money is important for everyone but can make a significant difference to people managing on a lower income.”
Key overall findings:
An estimated 298,525 people have participated in MoneyMinded since 2003
An estimated 54,879 individuals participated in MoneyMinded education globally (online and face-to-face) between 1 October 2013 and 30 September 2014
In Australia, facilitators and participants reported positive outcomes including increased ability to save, set financial goals, budget long-term and understand superannuation
Key findings of online review:
Before doing the online program, 27% of participants found it difficult to cover expenses; after the program only 3% still found it difficult
Before the online program, 47% of participants had a financial goal to achieve within 12 months; after the program 91% of participants had set a longer-term goal
Online participants who paid the full balance on their credit card increased from 18% to 29% after doing the program
A copy of the report by RMIT University can be found here: http://anz.co/LCQsN