A pilot financial education programme developed especially for learners with low literacy levels was launched recently by the ANZ in South Auckland.

The event coincided with MoneyWeek, the Commission for Financial Literacy & Retirement Income’s nationwide financial education awareness campaign and also celebrated the partnership between ANZ and Solomon Group, which will be delivering the programme.

MoneyMinded is a financial education programme that helps teach basic budgeting, savings and money management skills. Developed by ANZ in 2005 in conjunction with community groups and the NSW Department of Education and Training, the programme has already helped more than 160,000 people in Australia, South Pacific and Asia. The programme has been adapted for New Zealand.

“There is a real need amongst many communities across New Zealand around the basics of money management. The MoneyMinded pilot programme helps teach people simple concepts about saving and budgeting,” ANZ’s Head of Corporate Affairs Peter Parussini said.

“The MoneyMinded pilot programme will help people make informed decisions about the use of their money. Research shows that understanding the power of money and its pitfalls is critical to a person’s financial independence and well-being.”

Mr Parussini said if the programme proved successful, ANZ planned to roll it out into other communities. Solomon Group is a private training organisation, based in Manurewa, Panmure and Henderson, which provides literacy training to groups such as beneficiaries and migrants, often of Maori and Pacific Island descent.

“Our clients and communities make up a large proportion of more than 400,000 Aucklanders with low literacy levels,” says Judy Solomon, Director of Curriculum at Solomon Group. “We needed a financial management programme that could help our people change attitudes and habits around money. ANZ is to be commended for its willingness to partner with Solomon Group to create a programme and resource book appropriate to the needs of this extremely vulnerable group.”

Member of Parliament Alfred Ngaro today presented ANZ MoneyMinded Certificates to the eleven Solomon Group staff who recently completed MoneyMinded facilitator training.Other Members of Parliament, including Peseta Sam Lotu-Iiga and Louisa Wall, also attended today’s event, as well as Craig Moffat, ANZ General Manager Auckland and other members of the local community.