Empowering Financial Well-being: Family Money Management Program Update

The Newcrest Social Performance Department (SPD) manages and coordinates the resettlement family groups (RFG) and works in collaboration with Australian Business Volunteer's Apeketon Business Hub (ABH) team to facilitate skills workshops.

In March, a pilot program for resettled family groups at Putput was successfully implemented. Building on this success, the Newcrest Social Performance Department, Lihir Tenement Office, and the Australian Business Volunteer's ABH team have collaborated to plan the delivery of the Family Money Management Program to families under the Putput Resettlement and Lakunbut Resettlement Family Groups.

During the training program, it was discovered through class discussions that only a portion of individuals who receive income through employment, royalties, or other payments are effectively managing their finances and creating proper budgets. Feedback from participants indicates that the Family Money Management Program has been beneficial in improving income management skills and assisting participants in saving money to achieve their short-term and long-term family or personal goals. One participant mentioned, "I learnt a lot in this program on how to manage and use my finance."

So far, a total of 68 participants have engaged in the program from March - June. The Australian Business Volunteers team is pleased to continue supporting the Newcrest Social Performance team in facilitating the Family Money Management Program and expanding its reach to more participants.

Pictured: Lakunbut RFG Training Participants busy with their activities

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