As the world continues to crawl its way through 2020, handing over hard-earned dough is even more stressful than usual with millions of Australians suffering the economic impacts of the current COVID-19 pandemic.
Uncovering some of the financial implications on young Aussies, a recent survey by the electronic bill payment provider, BPAY, revealed that 71 per cent of those aged between 18-24 and 61 per cent of those between 25-34, will either experience a decreased income or expect a decreased income within the next six months due to pandemic-related job losses or changes.
Proving that the pandemic isn’t all negative vibes, the survey also revealed that 58 per cent of Aussies share a strong intention to help family or friends through the current crisis by assisting in bill payment.
Inspired by these supportive legends, BPAY is now taking action, uniting with Indigenous financial wellbeing not-for-profit, First Nations Foundation and Melbourne drag queen, Leasa Mann to offer bill education with a cause.
Influenced by Leasa’s generosity providing financial assistance to her entertainment industry colleagues falling behind with bills, young Aussies are being asked to carry on this goodwill by ditching the endless scrolling on Insta and TikTok for their tutorial on how to get better at bills with BPAY.
Strongly driven by the belief that every person deserves to feel secure in their finances, BPAY is donating $1 from every unique, completed video view to the financial literacy training program, ‘My Money Dream’, set up by First Nations Foundation.
Working within Indigenous communities to empower and instil confidence in individuals, the foundation is driven to establish financial prosperity via education, training and information.
In its new initiative, the program has been designed by Indigenous people for Indigenous people, ensuring accessibility and relevance for all.
On the impact of the program, First Nations Foundation CEO, Phil Usher, said the organisation expects immense short and long term benefits both for individuals and their communities.
“On average, people who undertake our training will share their knowledge with 5.8 other people in their community – this has the potential to substantially change each individual’s financial path.
“Understanding the overwhelming nature of managing money for many – especially during already tough periods such as the pandemic – the program covers everything from goal setting, budgeting and saving plans. While further elective modules are also offered, covering banking, superannuation, insurance, buying a house or car and dealing with financial stress.”
Buoyed by the generosity of spirit shown by both Leasa Mann and BPAY respectively, Usher said, the $1 per view contribution will have an immense impact on the foundation’s future.
“As with any not-for-profit organisation, our work is only possible thanks to the support of the wide community. We have seen so many young Aussies unite online for common causes on many occasions, so now we are calling on this inspiring generation to help us continue growing; reaching more people through our events and programs such as ‘My Money Dream’.
“We are so grateful that BPAY is aligned in our mission to offer financial dignity and freedom and for joining us in this quest. We hope that in the years to come this fundamental right is made simple for every single Australian.”
First Nations Foundation was formed in 2006 by the First Nations Credit Union, teaching financial skills to Indigenous people – the only group in the country prevented from learning these skills.
For more information on the First Nations Foundation, please visit firstnationsfoundation.org.au.
To view ‘How to get Better at Bills with BPAY’, please visit bpay.com.au/inyourcorner.
