Focus session 2

Topic: Information when needed - tools and resources

Moderator: Kate Donnelly, Head of Office of the CEO, AMP

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Illustration of focus session 2

Focus-session-2

 Illustration by Gavin Blake of Fever Picture

Accessible text version

Focus session 2: Information when needed - tools and resources

Moderator: Kate Donnelly

Question 1: What are the changes in behaviour we want to achieve?

  • Self esteem, confidence, empowerment
  • Breaking down the taboo of money (eg like Movember)
  • Buying smarter and avoiding impulse purchases
  • Taking action early, not hiding from problems
  • Making sure people are living within their means
  • Make talking about money a comfortable topic at home
  • Debt shouldn't be the norm, shouldn't be a social accolade
  • Learning how to delay gratification

Question 2: Given the opportunities and resources that are likely to be available, what are the key actions that we can take in 2014-16 that will make the most difference?

  • The delivery of information - the usage of language can help people understand better, but this means there needs to be more effective disclosure (ie shorter PDSs)
  • A campaign on dumb debt - perhaps a video or something on social media (YouTube, etc)
  • Encourage industry engagement like utility providers, gas and phone companies to take part in making things easier for people to understand
  • Mobile phones and computers - access is not entirely universal, we still need paper forms or information

Question 3: What are some current activities where there are successful partnerships within or across sectors? Given these, what are some ways to improve how we work together?

  • Different partners committing actions they report on (accountability)
  • Stocktake - cross promoting
  • 110 organisations signing up to the Strategy, but need to formalise engagement and commitment
  • Pooling research - universities and PhD students doing one report per year
  • Matchmaking partners - law firms doing pro bono work, MoneySmart Week Awards program
  • Long term unemployed - job network members should provide financial literacy
  • There should be a central hub for all organisations, so a place where organisations can put in requests or offers
  • Corporates and nationals need to create trust
  • Media need to be considered as a partner, advisers also

Last updated: 31 Oct 2016