Media Release by The Hon Jenny Macklin MP

Innovative new money management services in the Northern Territory

Joint Media Release with:

  • Hon Warren Snowdon MP, Minister for Indigenous Health and Member for Lingiari

An innovative new service to help regional and remote communities in the Northern Territory better manage their money was launched today by Minister for Families, Housing, Community Services, and Indigenous Affairs, Jenny Macklin.

The Australian Government is providing $1.5 million to Matrix on Board to pilot an innovative money management program – MoneyMob Talkabout over two years.

The funding will support two four-wheel drive vehicles and trailers to travel around the Northern Territory providing free money management education and information to around 60 communities.

‘MoneyMob Talkabout is all about getting everyone in the community together to talk about money,’ Ms Macklin said.

‘This is the first service of its kind in the Northern Territory and provides one-on-one advice as well as community workshops covering issues like setting and achieving short-term financial goals such as saving for holidays and longer-term goals, including securing loans, organising investments and superannuation.’

MoneyMob will also make learning about money fun, with barbeques, movie nights and games days for children and teenagers.

‘It’s so important that everyone, from children to seniors, develop ways of managing money so they can deal with unexpected financial costs and budget for the future,’ Ms Macklin said.

The Member for Lingiari Warren Snowdon welcomed the new service which finds new and interesting ways to help people develop their budgeting skills and help avoid debt later in life.

‘This is a great opportunity for people to develop their financial skills, particularly people in remote areas who don’t have access to these kinds of services,’ Mr Snowdon said.

This new mobile service will complement the existing money management services being offered by 11 community sector organisations in over forty locations across the Northern Territory.

These services are receiving more than $10 million over two years until 2011 from the Australian Government to provide free and confidential financial services.

These services are:

  • Tiwi Islands Training and Education Board
  • East Arnhem Shire Council
  • Mission Australia
  • CatholicCare NT
  • Kalano Community Association Incorporated
  • HK Training and Consultancy
  • Bawinanga Aboriginal Corporation
  • Smith Family/CatholicCare NT
  • Lutheran Community CareLaynhapuy Homelands Association Incorporated
  • Australian Red Cross Society.

The Australian Government is also providing Matrix on Board with a further $2.1 million to provide training, support, and mentoring to money management services across the Northern Territory.