For many employees in jobs-focused social enterprises, managing money can be a new and often overwhelming experience. But thanks to White Box Enterprises’ Financial Wellbeing Program, more people are gaining the confidence and practical capability to take control of their finances.
The third and final year of the bespoke program - funded by Ecstra Foundation - has delivered measurable impact. A Year Three evaluation by Centre for Social Impact (CSI) Swinburne has found the program - created specifically for, and with, jobs-focused social enterprises - continues to generate significant benefits for both social enterprises and their employees.
Nine social enterprises partnered with White Box Enterprises in year three, with four integrating the program into pre-existing work readiness or wellbeing initiatives. The flexibility of the model allowed organisations to personalise delivery, tailoring learning experiences to employees’ individual goals and circumstances.
Employees continued to see immediate benefits, making positive financial decisions following participation. 91% of participants learned new skills, particularly around superannuation, understanding a payslip and money management, and many have set savings goals and reviewed their current financial setup as a result.
Case Study: Mohammad's Story
Mohammad arrived in Australia two years ago from India, where he had spent several years as a refugee after fleeing Afghanistan. Now a permanent resident in Melbourne, he is juggling work, study, and fatherhood as he builds a better future for himself and his children.
Like many new arrivals, navigating Australia’s financial systems was unfamiliar and overwhelming. That changed when Mohammad participated in the Financial Wellbeing Program via Civik People. The session offered practical knowledge on managing money in Australia, covering topics from tax to home loans.
“When I was in the workshop I was learning everything, about home loans and superannuation. I didn’t know about any of that before. I didn’t talk about money before the meeting,” Mohammad explains.
Working closely with White Box Enterprises National Program Manager Kelly Taylor, Sherry Esfandiari, Partnership & Employment Manager at Civik People, said they adapted the delivery of the program to suit the cohort, translating key terms, localising examples, and slowing things down to ensure participants weren’t left behind.
Sherry says it was “mind-blowing” to see the enthusiasm among the participants for the topic. Mohammad says he wants to keep learning.
“It would be good to have another workshop. I want to learn more and more,” he says.
A three-year program with lasting impact
Across its three-year delivery from 2023 to 2025, the Financial Wellbeing Program has demonstrated that practical financial education can be successfully embedded within jobs-focused social enterprises. Participants consistently rated the program highly, with many reporting improved financial knowledge and skills that support greater stability and reduced financial risk.
White Box Enterprises National Program Manager Kelly Taylor said the program has reshaped how financial wellbeing is approached within employment pathways.
““The opportunity to design, deliver and measure the effectiveness of this program over three years has been such a rich experience. Working alongside our partners and employees with lived experience across diverse jobs-focused social enterprises has enabled us to hear and see positive change for people.” Kelly says.
“Increased confidence, knowledge and skills to better manage money now and into the future is the financial resilience the general population need, but even more so for people experiencing disadvantage so they can better manage the ups and downs that life throws at you.”
According Ecstra Foundation CEO, Caroline Stewart, "White Box and their social enterprise partners continue to show that providing new employees and workplaces with targeted financial wellbeing programs and supports is a highly effective and efficient model."
“Their collaborative approach, willingness to share learnings, and a clear focus on impact have enabled this work to grow and benefit more for purpose employers and employees. Ecstra is proud to continue our partnership with White Box, delivering meaningful and lasting financial wellbeing outcomes."