Across Australia, people like Makoura change the way they look at money through Saver Plus
Close to 33,000 people nationwide have reaped the rewards of Saver Plus since the Brotherhood started the program with the ANZ bank in 2003.
Makoura, 40, came to Australia with her four children in 2006 and settled in Adelaide. Last year, Makoura went to her local ANZ bank branch where she heard about the Saver Plus program. ‘Before the program I was not good at saving’, says Makoura. ‘Now, I’m much better.’
Saver Plus is a 10-month program that encourages and trains people on low incomes how to save.
It is coordinated by the Brotherhood and ANZ, and run in partnership with community organisations across Australia. Participants receive 10 hours of financial literacy training in a series of workshops. This training helped Makoura develop the skills she needed to start saving. ‘The workshops really changed the way I look at money,' she says.
‘Now I think a lot more about what I’m buying and if I really need it or if I just want it.
’Participants also commit to making fortnightly deposits for 10 months so that at the end of the program they will have at least $500 in the bank. Then ANZ matches their savings up to $500.
The matched money from ANZ must be spent on educational costs for participants or their children. Sporting and musical pursuits are also allowed.