A hallmark of our financial literacy partnerships with leading NGOs has been our regular public research into what has been achieved. The importance of this approach has been underlined by The Smith Family and ANZ receiving a 2014 MoneySmart Week award for the evaluation of their MoneyMinded mentoring program.
The award judges commented that “[their] research reflects best practice …. The research findings of RMIT are core fundamentals that can be applied to any financial literacy program.”
In the second half of 2013, we piloted a mentoring program, pairing ANZ employees with MoneyMinded participants from our community partner The Smith Family. The purpose of the pilot was to understand whether mentors added value to the participants’ overall experience of the MoneyMinded program.
RMIT University evaluated the pilot. They found mentoring reinforced the content learned in the MoneyMinded workshops and participants benefited from access to mentors with financial knowledge and expertise. Participants especially valued the objective support they received from mentors, feeling they could be honest about their financial situation without being judged.
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