MoneySmart Rookie Grants
High demand and low vacancy rates for rental stock means young people living independently need adept budgeting and money management skills to secure and maintain a tenancy. Young people on low incomes and/or struggling to budget are at high-risk of unstable housing and subsequently are at high-risk of homelessness.
Aligned with the 2016 Connected to YOUth strategy, and in response to what we know about the need for young people at risk to be skilled in budgeting and money matters, the South Australian Government funded up to 200 places for community organisations to deliver the Australian Securities and Investments Commission (ASIC) MoneySmart Rookie program to vulnerable young people in their region.
Young people learned about credit cards, managing debt, financial pitfalls of mobile phones, first time car ownership, online transactions and living independently.
Up to $100,000 of one-off funding was distributed to not-for-profit community organisations throughout South Australia to deliver the MoneySmart Rookie program for young people aged 15-24 years who are homeless or at risk of homelessness this year.
A summary of the outcomes achieved by the MoneySmart Rookie Grants program will be available soon.
For further information about the MoneySmart Rookie Grants, contact (08) 8413 8178.