Striving to educate all First Nations people on the basics of financial independence

Ian Hamm, Chair of the First Nations Foundation, returns to CMR to discuss credit cards, superannuation and the My Money Dreams program

Striving to educate all First Nations people on the basics of financial independence

Posted by: Charles Pakana
Posted: 29 September 2020
      CMR - 040 - Ian Hamm

 

Click on the play button above to hear the full interview with Ian Hamm

Click here to read/download the full interview transcript

 

Overview

Returning to Connection Matters Radio (CMR) to talk more about the importance of financial literacy and wellbeing of Aboriginal and Torres Strait Islander people, Yorta Yorta man Ian Ham, Chair of the First Nations Foundation, discussed:

  • early action on superannuation
  • the My Money Dreams program, and
  • the dangers of credit cards.

 

“I think there is a disproportionate amount of people who access credit and …still doesn’t register that credit is not free money,” Ian told CMR.

“It is debt you have to pay back later on; and credit card interests are some of the highest interest rates that there are.”

In discussing superannuation, Ian said: “You might only be 25 and it’s still another 40 years away or 45 years away. You can’t even contemplate the scale.

“But it’s important to start thinking about that as early as you can. It’s important to start putting away this money, which will accumulate over time and then build itself so that when you do reach your retirement age, you’ve actually got a nice income to live on…and people are living longer, even Aboriginal people are living longer.”

 

For more information…

For more information about the First Nations Foundation:

 

Click here to read/download the full interview transcript

Click on the play button below to hear the full interview with Ian Hamm

 

      CMR - 040 - Ian Hamm

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