About Good Shepherd Microfinance
Good Shepherd Microfinance is Australia’s largest microfinance organisation. It offers a suite of people-centred, affordable financial programs for individuals who are living on low incomes at different financial stages of their lives.
As part of the application process for microfinance offered by Good Shepherd Microfinance and its partners (including NAB), applicants have a ‘money conversation’ with a microfinance staff member (covering budgeting, managing bills and risks around fringe lending and scams). These 45-60 minute conversations are part of the formal interview of applicants. Anecdotal evidence suggests these ‘money conversations’ play a part in boosting financial literacy.
This Stage 1 research project assessed the impact of the financial conversation on applicants’ financial behaviour, skills and knowledge. It also looked at which aspects of the conversation have most impact and how they are best communicated.
The research finding has allowed Good Shepherd to improve the impact of the financial conversation for financial literacy, and to trial different delivery modes (face-to-face, online and video). Download the Pathways to Resilience report here (10MB).
$95,000 over one year