MoneyMinded - Corporate Responsibility

MoneyMinded was established after ANZ's 2003 study of financial literacy levels demonstrated a pressing need for financial skills education among socio-economically disadvantaged members of our community.

It was developed by the Centre for Learning Innovation at NSW Department of Education and Training, in conjunction with an advisory committee consisting of:

• the Australian Financial Counselling and Credit Reform Association (AFCCRA)
• the Financial Counsellors Association of NSW Inc. (FCAN)
• the Australian Securities and Investments Commission (ASIC)
• ANZ representatives.

Since 2004, MoneyMinded workshops have been delivered to over 93,456 people Australia-wide. Participants come from a diverse range of backgrounds including young people with disabilities and a Swahili-speaking women's group.

In 2007, MoneyMinded expanded to New Zealand where it was launched as part of an education program to help new parents think about the way they approach managing their money and make conscious decisions that will benefit their family's financial future.

The MoneyMinded program consists of 19 workshops across eight broad topics, covering areas like planning and budgeting; dealing with debt; home ownership and renting; and investment and superannuation. (For more details, see the MoneyMinded website.)

Every workshop includes speaking notes for facilitators and case studies, activity sheets, workshop summaries, and definitions of key words and terms for participants.

The program is flexible: it can be delivered through group workshops, individual counselling sessions, or online via the MoneyMinded website. Facilitators can select the topics that meet the specific needs of participants.

ANZ's ongoing commitment to MoneyMinded includes:

• facilitator training for financial counsellors and community educators
• partnerships with community organisations to deliver MoneyMinded in their communities
• annual reviews of the MoneyMinded content
• provision of MoneyMinded program materials.

MoneyMinded is free from ANZ branding and does not directly promote ANZ products.

MoneyMinded is made possible by the support and hard work of our community partners, who deliver both the MoneyMinded program and facilitator training. Our partners work on the ground with disadvantaged people to ensure MoneyMinded is delivered in a way that's relevant, accessible, and targeted to those who need it most.

• Anglicare SA
• The Benevolent Society
• Berry Street Victoria
• Brotherhood of St Laurence
• Kildonan Child and Family Services
• Mission Australia
• Plunket (NZ)
• The Smith Family

In 2008 The Smith Family delivered MoneyMinded to approximately 200 Year 12 students across a number of high schools in South East Queensland. The course formed the basis of a Certificate I qualification in Financial Services (Financial Literacy).

The course aimed to increase students' knowledge and skills in budgeting, savings, managing debt and consumer credit, and increase understanding in superannuation and the general Australian financial system. A 2009 evaluation (PDF 1.65MB) of this pilot found:

• the proportion of students who set financial goals increased significantly from 18% before the course to 36% at course completion
• by the end of the course, nearly all students (99.5%) reported they knew how to prepare and stick to a budget to meet their financial goals
• before the training, around 25% of students said they rarely planned their finances at all. This figure dropped to 5.3% 10 weeks after the completion of the program
• post program, 92.5% of students reported having more confidence in their abilities to handle their finances
• gaining the Certificate 1 qualification for undertaking the course was an effective incentive for students.