The Salvation Army (TSA), in partnership with ANZ, conducted the Survey of Financial Inclusion and Access (SoFIA) for their female staff and volunteers in late 2019.
The results show a higher financial wellbeing score of the Salvation Army respondents in comparison to the general population. It is wonderful to see that many TSA women are confident managing their money and have low levels of debt, but at the same time the survey revealed that nearly 10 per cent of the respondents were struggling with paying everyday expenses and had no savings.
The Salvation Army is responding to the survey results by expanding the Salvos Central portal information to include more about superannuation, Employee Assistance Program (EAP) benefits, links to Moneycare and its financial capability resources. They also plan to train managers to increase their awareness of financial hardship as well as embed financial capability resources in the onboarding program for new employees.