People on low-incomes in Queensland’s south east are the latest Australians eligible for Saver Plus, ANZ’s matched savings and financial education program.
Launched by Jenny Macklin, Federal Minister for Families, Housing, Community Services and Indigenous Affairs (pictured) earlier this month, Ipswich is one of the 60 communities benefiting from A$13.5m in Australian Government funding which is more than doubling the program's reach to an additional 7,600 people over 2010-2011.
Expansion of the program has included a focus on communities identified by the Australian Government as more vulnerable to an economic downturn because of location, industry composition, demographic profile, skill mix and past economic performance.
Each area has access to a range of Government activities designed to respond rapidly to the needs of workers who may be made redundant and to ensure maximum effectiveness of government, community and business efforts to stimulate the local economy and generate new jobs.
A majority of these 20 communities now have access to the Saver Plus program.
Jenny Macklin was joined at the launch by Elaine Henry, CEO of The Smith Family, our community partner who is delivering Saver Plus in Ipswich.
"We are excited to be delivering Saver Plus for the first time in 18 new sites this year, taking the total number of communities where we offer the program to 23 nationally,” said Elaine.
"Through Saver Plus, participants are provided with the opportunity to maintain spending diaries, prepare saving goals and plans which help to create a savings habit for the future. We aim to help families on low incomes break the cycle of disadvantage by giving them the tools to develop their financial skills."
Kerry, a Saver Plus participant who completed the program in 2006, spoke to attendees about the difference the Saver Plus training and experience had brought to her life. She described how it helped her to manage her spending, set a budget and save for the future. A mother of two, Kerry is still saving regularly as a result.
More than 5,500 low-income earners have participated in the financial education and matched savings program since it commenced in 2003.
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