As most parents would know, a child’s education is important, but it can also come with a hefty price tag. From tuition and school uniforms and shoes, to supplies and fees for activities, the cost of sending your kids to school can be really expensive. It’s not surprising that many parents look for ways to prepare for it.
What is a Saver Plus Program?
Saver Plus is a financial education and matched savings program that helps families gain financial skills that will enable them to achieve their savings goals, develop sound saving habits, and learn how to manage their money.
There are a lot of ways to prepare for your children’s education. Do your research and see which works best for your needs and preferences. If you’re looking for a program that will help you with your finances and to save for your child’s education, you may want to look at Saver Plus.
What is a Saver Plus Program? Here are some of the things that you need to know about it:
Established in 2003, Saver Plus is a financial education and matched savings program that helps families gain financial skills that will enable them to achieve their savings goals, develop sound saving habits, and learn how to manage their money. It is run by the Brotherhood of St Laurence and ANZ, together with The Smith Family, Berry Street, The Benevolent Society, as well as other community agencies.
This 10-month program gives incentives to those who complete it. Participants can get up to $500 in matched savings from ANZ. This can be of great help for different education-related expenses such as computers, supplies, books, uniforms, and sports equipment.
To join the Saver Plus program, you should be at least 18 years of age, have a Centrelink Health Care or Pensioner Concession Card, and have some form of regular income. You should also have a child at school located in an area where Saver Plus is delivered. The program is offered by different community agencies in 60 locations across states and territories in Australia.
A Saver Plus Coordinator will provide support and guidance to eligible participants throughout the program. They will determine a savings goal and make deposits regularly for 10 months. There’s also MoneyMinded training that comes with four fun and informative workshops, aimed at improving their financial skills.
Saver Plus participants enjoy taking part in the financial education workshops. They improve their money management and saving skills. Another great thing about the program is that the participants can use what they learn even after the program by growing their savings.
Do you have other ideas about education savings plans? Share your insights in the comments section.