Joining up helps save the day

By Shaun Inguanzo
GREATER Dandenong’s poorest families will feel some relief this school year because of a successful savings program that matches their input dollar for dollar.
The Saver Plus program developed by ANZ Bank and the Brotherhood of St Laurence in 2002 is being run by the Berry Street organisation in the cities of Greater Dandenong, Monash and Kingston.
In 2007, families registered with the program saved money to buy school books, uniforms and other back-to-school items and had their contributions matched dollar for dollar.
This week, Berry Street encouraged Greater Dandenong families to join the 2008 Saver Plus program which will help them to afford 2009 educational costs.
Berry Street spokeswoman Joanna Psarakis said the program made school and educational costs realistic for families feeling the pinch in the ever-increasing cost of living.
“Many families find it difficult to afford the back-to-school costs particularly after an expensive Christmas period,” Ms Psarakis said.
“Basic back-to-school needs such as uniforms, books, shoes and bags can cost hundreds of dollars for a single child and increase significantly when extra-curricular activities such as excursions, camps and cooking, woodwork and textile classes are included.”
Berry Street released average state school costs this week to illustrate the financial impact of sending a single child to school.
School uniform, books, shoes, bag and sports uniforms cost on average between $460 and $795 per child, the statistics said.
“Saver Plus prepares families by encouraging them to save small amounts of money throughout the year using simple techniques such as budgets, spending diaries and considering ‘needs’ versus ‘wants’,” Ms Psarakis said.
“By the end of the year participants often feel they are more in control of their spending and are motivated to save on a regular basis.”
Since 2002, Saver Plus has assisted more than 900 families to save for education costs. More than 1500 people are enrolled nationally.
The program has been recognised nationally, both through two Prime Minister’s Awards for Excellence in Community Business Partnerships, and more recently by winning the Best Socially Responsible Product category in Money Magazine’s Best of the Best Awards 2008. To apply, families need to be earning some income from paid employment, have a health care or pension card, and have children in school or be attending vocational training themselves.
Families interested in applying to join Saver Plus can contact Joanna Psarakis on 9239 1400.