Evaluation of Saver Plus phase 4 (2009–11)

Abstract

Evaluation of Saver Plus phase 4, 2009 to 2011.

Roslyn Russell Joann Cattlin Minh Phuong Doan School of Economics, Finance and Marketing RMIT University

page 2 foreword

ANZ and the Brotherhood of St Laurence are pleased to present the fifth evaluation of the Saver Plus program conducted by RMIT University. With support from the Australian Government through the Department of Families, Housing, Community Services and Indigenous Affairs to expand nationally, Saver Plus has become the largest, longest running matched savings program in the world. It has supported thousands of lower income earners to develop a lasting savings habit. The benefits that flow from this are clear in RMITs report: savings provide a buffer against situations that can lead to long-term financial hardship, such as being caught in a cycle of unaffordable debt. Being in control of household finances lowers stress, improves confidence and increases levels of well-being of participants and their families.