Taking the message of MoneySmart Week to future savers

The Minister for Community Services and Member for Franklin Julie Collins is encouraging Australians to take on board the message of MoneySmart Week and help spread it to the next generation of potential Australian savers – children.

“You’re never too young to know the importance of managing your money well,” Ms Collins told an audience of children, parents, staff and visitors at a MoneySmart Week event at Rokeby Primary School in her Hobart-based electorate today.

“Knowing how to manage your finances is one of the most important and challenging skills in life.

“It’s not only good for individuals and their families, but the whole community benefits from better financial understanding.

“The Australian Government is committed to improving the financial literacy of all Australians and is a proud supporter of MoneySmart Week.”

As part of today’s event, parents and children took part in a game of the Stairs and Slides Game – a variation on Snakes and Ladders designed to promote money skills and understanding from an early age.

It was followed by a presentation by The Smith Family on the Saver Plus initiative which provides matched savings to disadvantaged families.

“The Australian Government is committed to building the financial resilience and wellbeing of vulnerable people,” Ms Collins said.

“We are providing $37.5 million over three years to support financial literacy and microfinance programs such as Saver Plus, the No Interest Loan Scheme and StepUP loans.

“That includes $255,000 over three years to The Smith Family to help people right here in Tasmania through the Saver Plus initiative.

“In the Budget, we also committed $393 million over three years to our Financial Management Program to help people manage their money and plan for the future.

“A total of $2.5 million is allocated to Tasmania this financial year under the Financial Management Program.

“The Program includes funding for emergency relief, financial counselling, money management services and the Home Energy Saver Scheme.

“These programs give low income earners the practical means to get back on their feet and are making a real difference in people’s lives,” Ms Collins said.

MoneySmart Week from 2-8 September is an initiative of members of the Australian Government Financial Literacy Board, led by Mr Paul Clitheroe AM. More information is available at www.moneysmartweek.org.au