‘It has lit up my family.’ Women embrace Saver Plus

5 March 2019

More than 28,000 women have reaped the rewards of our Saver Plus program since it launched in 2003.

More than 28,000 women have reaped the rewards of our Saver Plus program since it launched in 2003.

To mark International Women’s Day this week, the program has released data which shows that while Saver Plus is open to men and women, women have embraced it in greater numbers. The data shows 87 per cent of participants were women, and 50 per cent of those women were sole parents with dependents.

Chithrika did the program last year at Wellsprings in Dandenong, in Melbourne, and saved to buy her oldest daughter a laptop. She also developed a strong saving habit, and is now saving for a laptop for her younger daughter.

‘This program has brought a lot of brightness – it has lit up my family,’ she said. ‘Now saving is number one. I was not doing that at all before. Even after I purchase my second child’s laptop, I will go on saving.’

National Manager Daniel Crotty, said Chitrika’s experience is similar to many others.

‘We see that parents, particularly mothers, are highly motivated to set financial goals and saving targets, and develop a better approach to managing money,’ he said. ‘They do whatever it takes to give their children a chance at having a better life.’

‘Saver Plus creates an opportunity for participants to futureproof their own finances and improve their children’s education experience.’

Saver Plus is a Brotherhood of St Laurence and ANZ initiative, delivered at 60 sites across Australia, in every state and territory.

It offers:

  • up to $500 in matched savings for education costs, and
  • free and informal financial education workshops.

An independent 2018 RMIT University report, Saver Plus: Pathways to Wellbeing found that 87 per cent of those who completed the program continued to save the same amount or more, three to seven years later.

The program is funded by ANZ and the Australian Government Department of Social Services. Go to www.dss.gov.au for more information.

It is delivered in partnership with The Smith Family, Berry Street, The Benevolent Society and other local community agencies.

Find out more or register for Saver Plus.