CHARITY The Smith Family has launched a finance-saving program for parents on low incomes to learn how to cope with education fees.
The Smith Family and community organisation Brotherhood of St Laurence formed the Saver Plus program, which teaches people about savings and financial education.
Saver Plus national manager Dan Crotty said 84 per cent of parents who were part of the program taught budgeting skills to their kids.
“We find the expensive back-to-school time inspires parents on lower incomes to join Saver Plus, with the incentive that ANZ matches their savings up to $500 to pay for education expenses,” he said.
“They learn how to build a savings habit, how to budget, and importantly, they’re encouraged to talk to their children about money from a young age – as early as preschool and primary school, right through the high school years.”
Mirrabooka Saver Plus coordinator Meagan Mayhills said children had a connection to money as society moved to digital banking.
Alexander Heights mother Lisa Barbato said she started sharing money skills with her daughter Valentina (4).
“I joined Saver Plus after hearing about the opportunity at my daughter’s kindergarten info session and thought it’d be a great incentive to get me saving for back to school costs for the following year,” she said.
“I spent my $500 in matched savings on my daughter’s school booklist and also paid for her swimming lessons.
“I’ve also taught my daughter the value of money and introduced her to monthly trips to the bank to do her own banking.”
The Smith Family ran the program across the Cities of Stirling, Swan and Wanneroo.
For information, call Meagan on 0438 518 603 or visit saverplus.org.au