40% growth in the three months to December 2018 with more than 100 new organisations joining; increasing diversity of members, participation and societal reach.
A shift in mindset and language from financial ‘capability’ to financial ‘wellbeing’; setting the scene to elevate the connection between financial wellbeing and mental health for greater social impact.
Investigation of the role of employers in actively supporting the financial wellbeing of their employees. In 2020, this empowered ASIC to be on the front foot in response to the COVID-19 pandemic; collaborating with the mental health sector on the intersection between financial wellbeing and mental health.
Foundations for a national dialogue
Like the stigmas associated with mental health, they also exist when Australians discuss their finances, especially debt. There is systemic value in a national agency, known for its role as a regulator, being prepared to raise a conversation on what is not a well known or widely addressed link between mental health and financial wellbeing. It’s an important step in a move from an under-resourced area, not necessarily well coordinated, to a system where building people’s financial confidence and resilience becomes an intrinsic part of our lives.
Open and adaptable to what we learn
The project supported people to trust the design process; fuelling the courage and curiosity needed to challenge conventional wisdom and long-held assumptions. The team kept an open mind and acted on insights; leading to crucial explorations like an in-depth look at the role of employers in their employees financial wellbeing.
Be the change we wish to see
Design was used as a vehicle for strengthening relationships; demonstrated by building design-led capabilities internally. Organisations participating could experience first-hand ASIC’s commitment to evolving their approach. This led to them wanting to engage with ASIC more meaningfully in future; and increasing the network’s value.