MoneyMend - a new money application made for Tasmanian communities
The Salvation Army has developed a new Financial Literacy Application to assist people to access local financial services, develop ways for people to better manage their money, and help users improve their wellbeing.
The Consumer and Financial Literacy Taskforce’s, Australian Consumers and Money stocktake of initiatives by public, private and community sector bodies found that while there was no shortage of consumer information, a good proportion of that material was not known, not properly targeted or not used by Australian consumers.
In response to this and other findings, the Moneymend App has been designed to assist the user with simple money plans, tips on ways to save money for families and access to services to provide support. Moneymend is the first step for people to develop the necessary tools to make smarter money decisions.
Craig Wood, Anne Herbert and Paula Robertson
Anne Herbert, Acting Director of the Tasmanian Government's Social Inclusion Unit
Many Tasmanians are affected by the current financial climate. MoneyMend provides vital local financial support resources, tools and ideas in one easy to access service. It can be accessed by people individually or with the help of trained staff.
The Moneymend App is available for smart phone and PC, or can be accessed at any one of The Salvation Army Doorways Centres across the Tasmania.
Keith Hall, Assistant Governor states that, “Increasing the level of financial literacy among the 10 per cent of Australians who are least financially literate would raise their incomes and help reduce the number of unpaid bills. The study estimated that over a period of 10 years these benefits would add $6 billion a year to GDP and create over 16,000 new jobs. In other words, money spent on financial education would be money very well spent.”