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After delivering the Money Mentor program in partnership with the Asylum Seeker Resource Centre, Aruna caught up with Absi Gebre-Yohannes, employee engagement coordinator.
Hear from Andrea supporter and future facilitator of the Money Mentor program delivered at Elwood College
Through term 4, we've been delivering our Money Mentor Program at Elwood College. We recently heard from teacher Mark Baker. Now, let's hear a student's perspective!
We've just completed four weeks running a Money Mentor program with Year 9 students in Maffra. Sam Muscat and Ian Prince joined Aruna in leading three different sessions in three rooms, with around 125 students in total. A real diversity of students, many from agriculture and farming backgrounds, asking questions ranging from 'what's a credit card' to 'how do I invest in shares as part of an investor circle'? Our thanks to co-ordinating teachers Ryan Hon and Katie Johnson, along with Sarah Dearne and Rob Christie from the Community Bank Board, for their support through the program.
We've been delivering our program at Elwood College for a few weeks now, so we caught up with teacher Mark Baker to see how the students were finding it ☝
As the school year approaches its conclusion, we're reflecting on the burning financial questions that students across Victoria are asking us: • I want to invest and have been looking into it. How do I do that? • What is HECs? How can I plan ahead so I'm ready later? • I'm saving for schoolies now. How can I have enough money for it by putting together a budget? • What if I have questions about my bills? Can I talk to the company and negotiate? • How do I have a chat with my employer if I have questions about my payslip? • Can I access my superannuation early? What for? • How much do I need for when I retire? Contact us to find out how we can tailor our Money Mentor program to fit your school's needs.
We delivered our Money Mentor program in Maffra, Gippsland, much to the joy and appreciation of the students and Sam Muscat (L) and Ian Prince (centre), as well as Sarah Dearne from Community Bank Maffra. "I think it's a great program for kids," Dearne said. "They really don't get taught much about finance and it's an important part of life." Money Mentor's services extend far and wide as we look to make financial education universally accessible.
As exam season kicks off around the state, the Money Mentor team wishes all year 12 students the best of success through the upcoming weeks. Financial literacy will soon start to become an even bigger need for this cohort of young people, and it's our role to work with schools and help students get ahead of the game. #financialliteracy #vceexams #vce @larasecondarycollege @elwoodcollege @bacchusmarshgrammar
The gender gap in financial literacy starts younger than you might think. Three ways we know this: • Young Australian women aged 15 to 19 already lag behind their male peers by 31.6% in financial literacy (HILDA Survey 2024) • Gen Z women are more likely to feel overwhelmed by money, and less likely to seek out ways to grow it (ASIC Moneysmart) • Young women consistently report lower confidence in managing finances and investing (Fidelity Next Generation Report) Here's the great news though: this confidence is buildable. Having financial choices is one of the most powerful tools a young woman can have. Let’s change this story by starting early. Get in touch with our team, to chat about how we’re helping young women kick-start this path to creating their own lifelong financial capability.
@_orygen_: '𝐌𝐞𝐧𝐭𝐚𝐥 𝐡𝐞𝐚𝐥𝐭𝐡 𝐭𝐨𝐥𝐥 𝐚𝐬 𝐦𝐨𝐫𝐞 𝐭𝐡𝐚𝐧 𝐡𝐚𝐥𝐟 𝐨𝐟 𝐲𝐨𝐮𝐧𝐠 𝐀𝐮𝐬𝐭𝐫𝐚𝐥𝐢𝐚𝐧𝐬 𝐜𝐨𝐧𝐜𝐞𝐫𝐧𝐞𝐝 𝐚𝐛𝐨𝐮𝐭 𝐟𝐢𝐧𝐚𝐧𝐜𝐢𝐚𝐥 𝐬𝐞𝐜𝐮𝐫𝐢𝐭𝐲' (Sept 2024) - 55 % of 15–19 year olds say financial security is a concern - 17 % of young people report experiencing financial hardship in the past year (e.g. inability to pay bills, skip meals, not able to afford school expenses) - Among those reporting financial hardship or concerns, about twice as many report living with mental health conditions, compared to those not reporting hardship/ concerns 𝐓𝐡𝐢𝐬 𝐬𝐡𝐨𝐰𝐬 𝐮𝐬 𝐭𝐡𝐚𝐭 𝐭𝐡𝐞𝐫𝐞'𝐬 𝐚 𝐬𝐭𝐫𝐨𝐧𝐠 𝐥𝐢𝐧𝐤 𝐛𝐞𝐭𝐰𝐞𝐞𝐧 𝐛𝐞𝐭𝐭𝐞𝐫 𝐟𝐢𝐧𝐚𝐧𝐜𝐢𝐚𝐥 𝐬𝐞𝐜𝐮𝐫𝐢𝐭𝐲 𝐚𝐧𝐝 𝐛𝐞𝐭𝐭𝐞𝐫 𝐦𝐞𝐧𝐭𝐚𝐥 𝐡𝐞𝐚𝐥𝐭𝐡. @scanloninstitute also tells us that financial well-being sits alongside belonging, trust and participation, as central to a cohesive society. Evidence-informed programs that support financial security - like Money Mentor - can then support better mental health and local connection. Get in touch if you'd like to learn more via the link in our bio 💡
In September, we began the first steps of making the Money Mentor program sustainable with local community support. One important part of doing this is training local community leaders to deliver the program in future. We trained Kristy Marshall, Regional Manager, Melbourne Bayside Region, and Kristy McRae, Branch Manager at Elwood Community Bank. They'll work alongside us to deliver the program at Elwood Secondary College this term. We're looking forward to working together to build financial literacy in these students!
Congratulations to our very own Aruna (and her mum Viji)! The younger Venkatachalam has taken home the Award for Community Excellence from the India Australia Business & Community Alliance ceremony in Mumbai.
From a bank‑commissioned survey (Oct 2024, published Jan 2025): Among Gen Z (ages 14 to 29), 41% set a savings goal as a New Year’s resolution. That was the highest proportion among all generations. Also, 65% of people who set a savings goal in the bank’s app were from Gen Z. What does this tell us? It's a shift towards younger Australians actively engaging with tools to set goals. Building their financial literacy through action, even if they have knowledge gaps. Things like cost of living are likely driving this. However, setting goals or using tools doesn’t always equate to full literacy. So while that's a promising trend, there’s still likely a gap in deeper financial knowledge that we all need to work towards filling.
"Particularly how quickly students were able to convert the knowledge learned into their lives. The program had impact on students who may have not voluntarily chosen finance related electives, enabling them to to comprehend everyday financial literacy concepts that could positively impact their lives." Head to the link in our bio to find out more about Money Mentor and its role in the community 💙
We were thrilled to recently deliver the Money Mentor program with the support of five dedicated, experienced mentors from the Bacchus Marsh Community Bank and Small Business Mentoring Service. 469 Year 9 and 10 students are now on the path to financial literacy and we couldn't be happier about it 😊
Recommended reads that will keep you motivated on the path to financial literacy. They would make great educational gifts or request for your school library. Psychology of Money Barefoot Investor Don’t Stress, Just Invest She's On The Money
Recently a Year 9 student at Bacchus Marsh College blew our minds with this reflection during a Money Mentor session. It gives us faith in future leaders, the deep thoughts our youth have regarding financial literacy.
94% of young Australians think it is important to learn how to manage money early. So why are only 28% of teenage males and 15% of teenage females considered financially literate? The Money Mentor program bridges the gap and has the impact to improve financial education for our youth. For more info head to our website. Stat source details on our website.
Humbled by the feedback students have shared with us on their new found knowledge about saving, understanding their first pay check, contemplating future financial goals by participating in the Money Mentor program. Contact us about running a course in your school, community group or business via website.
The Money Mentor program provides a solid foundation for financial empowerment with its tailored, in-depth and practical approach. Our program is aimed at young people aged 15-25. It includes: 🎓 Getting a job and setting financial goals 🎓 Understanding payslips 🎓 Superannuation and banking 🎓 Making good financial choices For more details, visit the link in our bio or email aruna@localimpact.org.au
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Address

84 Gamon St, Yarraville VIC 3013

Email

aruna@moneymentor.org.au

Phone

1300 FIN LIT