First Nations Foundation 2022 Impact Report finds success in Indigenous financial literacy training

Joseph Guenzler
Joseph Guenzler Published February 16, 2023 at 2.29pm (AWST)

Many gathered at the Suncorp building rooftop in Meanjin (Brisbane) Tuesday to hear of the latest findings by the First Nations Foundation in their recent Impact Report 2022.

The First Nations Foundation money skills training and resources are built on insights from its Money Stories report with NAB that showed 48% of First Nations Australians are living in financial stress, and only 1 in 10 First Nations people are financially secure compared with 1 in 2 non-Indigenous Australians.

The Foundation aims to help mob build prosperous financial futures, with ongoing support provided through a range of mediums such as podcasts, webinars and world-first online learning platforms IndigneousSuper.com.au, TomorrowMoney.co and My Money Dream online modules - while being completely free.

Jagera Dance Troop (Photo: Joseph Guenzler)

The proceedings began with a welcome to country ceremony by a Jagera (Meeanjin Traditional Owners) dance troop, followed by an introduction by Yorta Yorta man, Iann Hamm.

Jagera Dance Troop (Photo: Joseph Guenzler)

Mr Hamm explained that of the FNF learners in 2022 across 33 communities (1600+ people), more than 91% felt that FNF often or always provides a culturally safe learning environment and experience.

70% of learners said they feel "very to extremely confident" in managing their money in the future after completing the training.

FNF measures the impact they make on communities and individuals through a combination of online tools, physical surveys and following up with participants every 3 and 6 months to measure behavioural change.

This is to identify if and to what level, learners have implemented the lessons from training.

Below are the results of participants before and after training. Each category saw at least 87% of learners feeling they were good or excellent on the specified money subject.

Survey results - Money Stories Report

First Nations Foundation chief executive and proud Wiradjuri man Phil Usher noted that managing money is a relatively new concept to First Nations people due to the effects of systemic racism and oppression Indigenous people experience.

"As the CEO of a First Nations organisation, I have an innate responsibility to our elders, community and family to ensure that we are improving the lives of our people," Mr Usher said.

"This report reflects the incredible work towards our vision of financial prosperity for Indigenous Australians.

"I am very pleased to say that over 90% of our learners found our training to be culturally safe and appropriate. All of our training and content is written by mob, for mob. This is a non-negotiable, core part of how we do business."

You can view the full findings of the Impact Report 2022 here.

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National Indigenous Times

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