News round-up

ASB relaunches school savings programme
ASB has launched a revitalised school banking programme, 83 years on from the launch of its original one.

The move comes after the first ASB SmartSave Survey which showed that 75% of young school pupils surveyed either don’t have a bank account or rarely use one if they do.

The survey asked 450 eight to 12 year olds from 20 New Zealand schools about their understanding of saving money. Results showed 13% were unable to name one bank or financial institution, with over half only able to name just one.

Over half those surveyed thought their financial independence would come from “luck and a bit of planning”.