ANZ has published its 2022 MoneyMinded Reach Report, detailing the impact of its financial education program. Since its launch in 2002, the program has reached nearly 850,000 participants across Australia, New Zealand, Asia, and the Pacific. In the past year alone, approximately 55,000 individuals have completed the program.
MoneyMinded was created in Australia to help adults improve their money management skills and confidence. ANZ's CEO Shayne Elliott commented on the current economic challenges: "While pandemic-related restrictions eased in 2022, this year has still provided many challenges for households including increasing cost of living pressures."
Elliott emphasized the program's role over two decades: "For 20 years MoneyMinded has been a valuable resource for many community workers and financial counsellors as they support lower income and disadvantaged communities and continues to be so during these challenging times."
The report highlights that since October 2021, an estimated 54,624 people have participated in MoneyMinded across Australia (41,694) and the Asia Pacific region including New Zealand (12,930). Most coaches delivered the program face-to-face; however, digital channels were used by 31.4% in Australia and 28.9% in New Zealand, Asia, and the Pacific.
Demographics show that in Australia, 76% of participants were female while in New Zealand, Asia, and the Pacific regions this figure was slightly over half at 51.1%. A significant portion of Australian participants were sole parents (36.2%), unemployed (24%), or spoke a language other than English at home (20.3%). Additionally, people with disabilities and carers represented 10% and 8.8%, respectively.
In contrast, half of all participants from New Zealand, Asia, and the Pacific spoke a language other than English at home; more than one-third were seasonal workers (36.4%) and almost one-quarter were students (23.6%).
For further details on MoneyMinded or to download a full copy of the report visit www.anz.com/moneyminded.