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University buys budgeting help

University buys budgeting help

Massey University staff figuring out what to do with their tax cut cash or how to afford Christmas have a new tool to help them – the University has just signed a contract with award-winning online budgeting program and is offering it free to all its employees.

The deal follows the success of the company’s founder Grace Xue, who recently won the Telecommunications Users Association of New Zealand Innovator of the Year award., is an online, personal budgeting tool that enables users to easily figure out where their money is going, set up realistic budget plans and track spending at the click of a button.

Grace says Massey University is the first large organisation in New Zealand to have taken such a proactive approach to help their staff with a practical everyday tool. As well as making the program available to the 4,000 staff, Massey’s 30,000 students nationwide will also be able to access the program from early next year.

Companies may think that staff’s personal financial problems are not their concern, however Grace says “accredited studies show up to 12.5 per cent of an employee’s time at work is lost due to personal financial problems. What’s more, those employees also have more health problems and higher attrition rate.”

Who Stole My Money, launched late last year has become one of the fastest growing NZ online companies. It is attracting people who traditionally fall outside the demographics for budgeting needs, with members earnings as high as $276,000 a year after tax.

Deputy Vice-Chancellor (Auckland and International) Professor John Raine says Massey is “delighted to be able to offer Who Stole My Money to our staff and students to help with personal money management.” He anticipated staff across the board would be keen to use the program.

Given the pressure on many people’s wallets amid the current economic climate, Grace says many will benefit from the program designed to help people manage their everyday money. She’s hopeful that many more organisations will follow this lead.


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