Q. Why were the MoneyMinded programs developed? A. According to research commissioned by ANZ, there is a strong link between socio-economic status and adult financial capability levels.
This research also identified groups within the community that could benefit from improved financial literacy and the issues that could be addressed.
In response to the research, ANZ initiated and led the development of MoneyMinded as part of its commitment to use its resources and expertise to build the financial knowledge, skills and confidence of all Australians, particularly amongst the most vulnerable.
MoneyMinded provides unbiased consumer education and is free from any ANZ branding or promotion of any financial institutions' products or services.
Q. How was MoneyMinded developed? A. The original MoneyMinded program was first launched in October 2004. It was written by the Centre for Learning Innovation (CLI) in the NSW Department of Education and Training with contributions from an advisory committee featuring nominees from the Australian Financial Counselling and Credit Reform Association (AFCCRA) and Financial Counsellors' Association of NSW Inc. (FCAN). The advisory committee also included representatives from the Australian Securities and Investments Commission (ASIC) and ANZ.
Following a nine-month trial and feedback from financial counsellors, community educators and participants, a review of MoneyMinded commenced in August 2005. This review involved another advisory committee featuring financial counsellors from every State and Territory – many of whom also represent AFCCRA, as well as an ANZ representative. The revised version of MoneyMinded was released in December 2005.
MoneyMinded online was developed by online learning specialists, The Learning Group and ANZ in late 2005. It is based on the original MoneyMinded program with additional information on superannuation and investments and has been reviewed by independent financial counsellors.
