By NICOLE VALICEK
Spotswood single mum and former Saver Plus participant Kalon McGhien, pictured with son Jermaine, would recommend the program to anyone. Picture: NICOLE VALICEK
HUNDREDS of Hobsons Bay families have been empowered to change their financial futures since the Saver Plus program began in the municipality.
An initiative of ANZ and Brotherhood of St Laurence and delivered locally by The Smith Family, the program was designed to encourage lower income earners to develop a savings habit.
Participants work towards a savings goal over 10 months and attend workshops to build their financial management skills.
When they reach the goal, ANZ match what they save up to $500.
The national program, which celebrates 10 years in 2013, has benefited 534 people from Hobsons Bay and Wyndham.
Saver Plus co-ordinator from The Smith Family Daniel Crotty said over the past 10 years, Saver Plus had saved more than $13.5 million with ANZ matching more than $9 million for education expenses.
Mr Crotty said participants soon build their financial skills and then their confidence.
“You can see their lives change for the better,’’ he said.
“Many start the program unsure of what they can achieve and it’s really rewarding to assist them reach their goal.
“Knowing that they have developed lifelong skills that they can continue to use is a great feeling.”
For families on lower incomes, the benefits of saving even small amounts include protection from financial shocks, building confidence in managing money and dealing with financial challenges.
Past Saver Plus participant and Spotswood single mother Kalon McGhien said the program helped pay for expenses like uniforms and excursions she otherwise could not afford for son Jermaine, 10.
“Being a single parent is very hard supporting two people on one wage,” she said.
“I would recommend it for anybody. It helps out with extra stuff for your kids if you’re ever short. Schooling becomes expensive it just helps out so much even with out-of-school activities because it all adds up.”
For more information on Saver Plus, visit www.bsl.org.au//Saver-Plus
