1 in 7 Students Face Financial Crisis—UniBank and WSU Commit to Take Initiatives

A recent study revealed that 1 in 7 domestic students regularly go without food or other necessities due to lack of financial resources, and with students having the least financial literacy.

To address this alarming situation before it explodes, UniBank and Western Sydney University have together started a pilot project for upskilling financial literacy in students.

Wallet$mart app helps students understand how to budget & save money. Upon joining, students take a quiz on personal finance topics, their results produce a “Wallet$mart score,” one can improve their score by working through the content available.

Student input is critical as app created caters to different living and studying arrangements including international students. After the initial pilot, app users will participate in focus groups to provide thorough feedback on the its design and utility.