Sending children to school or returning to study as an adult can be expensive - items such as computers, text books, uniforms and school camps can all make a big dent on the family budget. For more than five years now, ANZ's Saver Plus has been assisting families on low incomes to save for school expenses. More than 4,700 people have enrolled in the program to date.

Saver Plus was developed in 2003 by ANZ and the Brotherhood of St Laurence. The program is specifically designed for people on lower incomes, and participants receive support and guidance along the way to reach their savings goal. At the conclusion of the program we match participants savings dollar for dollar, up to $1,000.

The program, which has been recognised as one of the most successful matched savings programs in the world¹, is currently available in more than 20 locations nationally and is delivered by our trusted community partners.

A recent Saver Plus participant, Diwani found that the program increased her level of financial knowledge, something which she has already started passing onto her children.

"I really want the kids to understand how we can afford something and not hear 'we can't afford it' all the time", she said.

"I think saving should be a habit that you stick to. Now our main goal is to save for a deposit for a house"

Saving does become a habit for Saver Plus participants, and more than 70% of participants continue to save the same amount or more, even up to three years after completing the program. Participants also report a number of other benefits including increased self-esteem, strengthened family unity and support networks, and a highly positive impact on their child's school experience.

To be eligible to join Saver Plus you must be 18 years and above and have:

• children attending school or be attending or returning to vocational education yourself
• a current health care card or pension card
• some regular income from paid employment.

This year we hope to assist another 1500 people to reach their savings goals through Saver Plus. If you think this program might be right for you, please contact your nearest Saver Plus location (PDF 96kB).

• Find out more about the Saver Plus program.

1 Russell, R, Saver Plus: More than Saving, A brief comparison with international programs, RMIT University, August 2008.

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