Giving Kiwi kids a head start in life

For immediate release

25 January 2017

Giving Kiwi kids a head start in life

Empowering Kiwi youth with the knowledge they need today to excel tomorrow

The best time to start is now.

AMP Financial Services, Youth Town and The Commission for Financial Capability (CFFC) have joined forces to show a very special group of young New Zealanders that the road to financial wellbeing is within reach.

31 teenagers from challenging backgrounds will take part in a joint-workshop at AMP’s head office in Auckland and be introduced to financial capability basics, including budgeting, taxes, and savings. For many it will be their first visit to a corporate office and their first time learning about financial basics.

AMP New Zealand Managing Director, Blair Vernon says AMP is delighted to be partnering with Youth Town and the CFFC to empower young New Zealanders by sharing knowledge and skills that will make a real difference in their lives in a fun, interactive and engaging way.

“Sometimes financial aspects of life can be boring, tedious or just don’t make sense for young people, but it’s important they have the opportunity to learn how decisions they make today can affect their financial wellbeing for years to come.

“Getting to grips with the basics, like how a financial plan works or the importance of saving, will put them in a great position to achieve their financial goals in the future – like going to university or buying a house,” says Mr Vernon.

The financial capability workshop is part of the Prime Minister’s Youth Programme, being implemented by Youth Town, on behalf the Ministry of Social Development.

Youth Town Chief Executive, Paula Kearns says financial capability is one of the cornerstones of a successful and fulfilling life.

“Financial capability is one of the more valuable gifts a young person can have, and it can determine the course of their entire adulthood,” she says.

“Youth Town works hard to give youth the skills and experiences they need to become positive, contributing young adults. That is why incorporating this workshop into our secondary student programme is very important,” she adds.

Youth Town plans to include the workshop in its after school and holiday programmes in the near future.

Retirement Commissioner Diane Maxwell, who heads the Commission for Financial Capability, says the benefits of learning basic information about how to manage money has a ripple effect throughout people’s lives.

“I look back on my teens and twenties and I simply wish I had known more about money: how debt works, what questions to ask, how money makes money. It doesn't take much, some basic info goes a long way,” she says.

The workshop will be held in Auckland on 26 January 2017 from 9am to 12pm. The Retirement Commissioner will be in attendance.

END.

About AMP

AMP Financial Services is a leading life insurer and retirement savings provider. In the first half of 2016, AMP: § Supported 945 families in times of need by paying out $76.1 million in life insurance and $16.2 million in trauma claims.

§ Helped 562 New Zealanders who were unable to return to work because of an illness or injury by paying out $9.4 million in income protection insurance.

§ Assisted 68 Kiwis to return to work following a major illness or injury.

§ Paid $34.8 million in general insurance claims.

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