Talking Money. Money Management Education

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Pierce Nichols
7 years ago
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1 Funded by: FaHCSIA Talking Money Kanya Wangkanthi Money Management Education Phone: Understand further options on how to save money

2 Kaurna Acknowledgement We would like to acknowledge this land that we meet on today is the traditional lands for the Kaurna people and that we respect their spiritual relationship with their country. We also acknowledge the Kaurna people as the custodians of the Adelaide region and that their cultural and heritage beliefs are still as important to the living Kaurna people today. (SA) We also acknowledge and give respect to all Aboriginal people from other areas in Australia.

We also acknowledge the Kaurna people as the custodians of the Adelaide region and that their cultural and heritage

3 Map of Kaurna Land

4 Talk money with everyone It s a topic that affects us all and we can all learn new things!

5 Planning for the future Explore different beliefs and interests

6 Planning for the future - Set goals that are achievable - Know your patterns - Know and control your temptations - Live within your means - Ask for help if you need it - Gain knowledge and learn more - Regularly review as your life changes It starts in your hands - Have backup plans for the future eg: bank accounts, emergency funds, extra supports - Gain stability and a good foundation, physically, mentally, intellectually, emotionally and spiritually (How do you manage this?)

It starts in your hands - Have backup plans for the future eg: bank accounts, emergency funds, extra supports - Gain

7 Understanding your money and know the warning signs when you re having difficulty...

8 Have smart goals Specific - Know exactly what the goal is and explore ways to get it Measurable - Create ways to measure your progress Achievable - Work out the costs and steps needed to be taken Realistic while following your dreams and desires - Are you able to succeed without help, you may need to ask for help and gather more information Timed Set allowable and achievable time frames

Realistic while following your dreams and desires - Are you able to succeed without help, you may

9 Think about financial rewards Stopping or cutting down smoking options can really add up over time: Day 1: $ saved per pack After 1 week: $ saved After 1 month: $ saved After 6 months: After 1 year: After 2 years: After 5 years: After 10 years: $ 2, saved $ 5, saved $ 10, saved $ 25, saved $ 50, saved

10 More financial rewards Two drinks - whether soft drink or coffee average $ 6.00 per day Day 1: $ 6.00 for 2 drinks After 1 week: $ saved After 1 month: $ saved After 6 months: $ 1, saved After 1 year: $ 2, saved After 2 years: $ 4, saved After 5 years: $10, saved After 10 years: $20, saved

00 saved After 1 month: $ 168.00 saved After 6 months: $ 1,008.

11 More financial rewards Not your bank ATM fees cost up to $2.50 each time Times Cost per day Cost per week Cost a month Cost per year 1 a day $ 2.00 $ $ $ a day $ 4.00 $ $ $ 1, a day $ 6.00 $ $ $ 2, a day $ 8.00 $ $ $ 2, Savings can be made

$ 2.00 $ 14.00 $ 56.00 $ 725.00 2 a day $ 4.00 $ 28.00 $ 112.00 $ 1,456.

12 Sorting finances takes discipline and work Make time to work on your finances today and you will reap the rewards

13 Remember we have many options and choices, we just need to look for them! Also remember to think about short and long term choices and options

14 Kelly s shared story Thanks to learning money management skills, Kelly made a budget and kept a spending diary to be more aware of her finances and spending habits. She then became a wiser and smarter shopper with her money and she saved so much more. Kelly reaped the rewards!

15 Jackie s shared story Jackie was getting huge electricity bills each quarter and decided to learn about ways to save on her energy bills. Jackie saved money by getting rid of her old electrical goods, including an old fridge that was using excessive power, and she got a NILS (No interest loans scheme) at UnitingCare Wesley Port Adelaide to buy a new energy efficient fridge and she saved on her next electricity bill. She also set up a weekly Direct Debit on her electricity account, so she could manage payment easier.

Jackie saved money by getting rid of her old electrical goods, including an old fridge that was using excessive power, and she got

16 Mary s shared story Mary learnt ways to make money through recycling bottles and cans. She also told her family and friends. It helped her and others get extra money and also helped the environment at the same time (You can get 10c a can or bottle at recycling Depot's, it soon adds up $ $ $)

It helped her and others get extra money and also helped the environment

17 Your money tree It starts in your hands

Money Tree On the bottom of the tree beneath is my roots, good foundation for growth.

18 I started by planting the seed (a good thought) and I nurtured the growth. My Money Tree On the top of my tree My sweet fruit, wants and rewards from my good foundation from healthy roots Holidays takeaway food My Money Tree On the bottom of the tree beneath is my roots, good foundation for growth. (If I look after it, then I can get the fruit and Good Health Family rewards I want) Feeling safe and loved Community services Friends Paid bills Smart, healthy, positive thinking Money/Good job/education Spirituality

19 What does your money tree look like? Money Tree

20 Remember big strong trees can also help protect smaller trees grow Money Tree

21 Some ways that you can create growth and good foundations with healthy roots - Have an income and some financial security - Get a job, work experience, volunteer - Study and gain better education and knowledge - Have a savings plan and emergency funds - Learn to budget and stick to it - Be a wise spender - Manage paper work wisely - Learn more options about money management and ways to save money - Ask questions - Learn to say no to unhealthy temptation Connect to positive influences within the wider community

22 Some tips where to store your growth - In bank accounts - Christmas club - In positive growth investments - In Super - In a house investment - In land investment

23 Plan for the future If your money tree becomes sick or there is a drought and there is no water (savings) and your roots (foundation) becomes weak What will you do?

24 What will you do? - Go on Centrelink payments? (if it is available in the future) - Busk in the streets to try and get money? - Live on the streets and off the land? - Go to jail if you break laws? - Get family support, if it is available? - Get support from government or private sector? - Pull on your emergency savings? - Apply learned money management skills? - Learn from others mistakes and rewards?

25 Some tips on how to save! - Set up Pre-pay, Centrepay, Direct debit or payment plan options for bills - Explore tax options, government schemes/subsidies/entitlements/rebate savings - Explore Centrelink concessions - Compare shops, look for sales and discounts - Plan before you shop eg: keep a list and stick to it Also ask yourself, Do I need it? - Can I afford it? Is it for my best interest? Before you buy!

26 More tips on how to save! - Have in place motivators eg: role models, photos around the house, reminder notes - Buy second hand or at garage or liquidation sales - Negotiate discounts options eg: paying cash - Explore supermarket food mark down times and days to get cheaper prices - Explore community groups / churches / organisations that have free items to give away eg: UnitingCare Wesley Port Adelaide, Emergency Assistance

27 More tips on how to save! -Take public transport instead of a taxi - Bulk buy and save - Look for bundled products and packages to save eg: landline, mobile phone and internet bundle - Shop for best deals, rather than impulse buy - Save loose change, it can quickly add up - Fill water bottle at home instead of buying water - Use shopping docket discounts and coupons - Ask for reduced interest options when in hardship

28 More tips on how to save! - Cut down on outings that cost a lot and expensive social activities; entertain more at home and share cost with others - Monitor and minimise electricity, gas and water use, only take what you need without wastage - Explore savings on energy efficient ideas eg: Blocking draft areas in your home, turning switches off - Learn more about financial literacy

29 Remember, you can be a voice to help others and yourself Start today to create growth in your life, with a strong foundation and roots.

30 Useful websites It starts in your hands Google different banks for tips, ideas and good savings accounts Learn, grow and become strong!

31 Supporting families, individuals and communities Talking Money OUR VALUES Respect and compassion for all people Belief in the innate worth of all people Justice, particularly for those less advantaged in our society Being of service to others Restlessness for what could be Non-violence and peace

32 w Port Adelaide Other services available: - Aboriginal and Torres Strait Islander programs - Aged Care facilities and services - Communities for Children - Financial counselling - Wesley Social Enterprise - Emergency assistance - Ethnic Links Services - Free Legal clinic - Family Support Services - Childcare Links - Homelessness Services - Portway Housing Association - Employment Services - No Interest Loans Scheme (NILS) - Community Mental Health Services - Youth services - Men and Family Relationship programs and more

33 Funded by: FaHCSIA Delivered by: UCWPA Port Adelaide Contact details of main office: 70 Dale Street, Port Adelaide, Phone:

Overview. 2: Saving money. Section: content for the worker and resources Key messages A: Introducing saving money ff

Overview. 2: Saving money. Section: content for the worker and resources Key messages A: Introducing saving money ff Overview 2: Saving money This topic is about saving money and how it can help you plan ahead. It helps your client understand how to start a savings plan, how much money to save (even if a small amount)