Report: MoneyMinded program significantly strengthened financial knowledge

ANZ Regional Executive Tessa Price, second left, ANZ chief executive officer Saud Minam, Reserve Bank of Fiji governor Faizul Ariff Ali and RMIT University researcher Marica Tabualevu, third from right, with ANZ staff members during the 2019 Moneyminded Impact Report launch at the ANZ House in Suva on Tuesday, October 08, 2019. Picture: JONACANI LALAKOBAU

AN independent impact evaluation report of MoneyMinded, ANZ’s financial inclusion program, has found the program significantly strengthened participants’ financial knowledge, skills and capabilities.

According to the findings of the study, 96 per cent of the respondents reported the MoneyMinded program had improved their financial wellbeing – meaning their ability to meet financial commitments, feel financially comfortable and cope with unexpected expenses.

Speaking during the report launch in Suva today, ANZ Fiji country head Saud Minam said the program supported the Fijian Government and Reserve Bank of Fiji’s National Financial Inclusion Taskforce to improve financial inclusion rates and financial capabilities of Fijians.

“We will continue to support financial literacy because we know that investing our efforts in this area is important. With careful budgeting, planning and the practical life skills that MoneyMinded offers, we can contribute to positive changes in peoples’ lives,” Mr Minam said.

“Around 12,000 people in Fiji have taken part in MoneyMinded training since 2010, helping Fijians develop money skills, knowledge and confidence.”

The program is usually conducted as a one-day workshop with topics including planning for the future, making money last until pay day, needs and wants, budgeting, and assertiveness and learning to say “no”, and participants are encouraged to commit to action after the workshop, the report stated.

According to Reserve Bank of Fiji governor Ariff Ali, “The Reserve Bank’s efforts to increase financial inclusion in Fiji have been well supported by programs like MoneyMinded, which have played a positive role in changing the savings mindset of Fijians. Congratulations to ANZ and all agencies involved in the success of the MoneyMinded program in Fiji.”

The program is supported by Ola Fou, Live and Learn, Digicel, Fiji National University, Fiji National Provident Fund, HART, Paradise Beverages, Republic of Fiji Military Forces and Fiji Police Force.

Read more in tomorrow’s edition of The Fiji Times.

More Stories