The ‘plan well to give well’ campaign comes off the back of new research by the FPA that found Australians spend $19.8 billion on gifts each year.
The research, ‘Gifts that give’, found that the average Australian adult was spending $100 a month on gifts, with a strong preference towards cash or gift cards.
The research found that on average $437 was spent buying gifts for partners, $201 on each parent and even $115 for pets.
The FPA found that 73 per cent of these gifts were unplanned, which is what has prompted the FPA campaign.
“There’s literally billions of dollars of household spend that is simply not budgeted for by nearly three in four Australians (73 per cent) across genders, generations and geographies,” said FPA chief executive Dante De Gori.
“That’s an obvious opportunity to increase our nation’s financial literacy and awareness of the benefits of budgeting, financial planning and giving in a way that brings joy without debt or regret.”
The FPA has released an ebook called Goodness of Giving to give consumers advice on how to budget for gifts, how to buy sustainably and even includes a personality quiz.
get on their social media and let them know how you feel
Financial Planners are committing suicide and this is how they feel they can add value. Totally out of touch.
Zzzzzzzzzz. I bought my dog Samson a lamb shank today as a surprise. It wasn’t planned. Better get the FPA’s new Ebook and confess. In the meantime, Rome burns.
The FPA is out of touch with reality. Thanks largely to the actions and inactions of the FPA let’s make this clear that the Average Australian can no longer afford financial advice. Why are they spending money targeting the mass market. Secondly the message saying cut back on your gifts to family and instead budget,….wtf…. this is not the typical client of a financial planner post FoFA. It appears the typical client of a financial planner is now a Gay CEO on Pitt Street with double income and no kids who has to take out a mortgage to pay annual advice fees and we’re telling him to cut back on his gifts and budget.
I would suggest the FPA lowers FPA membership fees down because I’m struggling with red tape and increased compliance obligations and my costs have gone up with ASIC financial advice levies etc etc.
Well timed FPA. Same day the Federal Treasurer releases the Government’s action plan on the Royal Commission. Same day Jeff Morris is on the ABC confirming that the RC was soft, because it avoided the issue of vertical integration (I agree).
From where I’m sitting, the FPA seems to be the best our industry has to offer in terms of professional associations.
The fact that they are so off-point is so disheartening.
Day after day more licencees cutting planner numbers, 1,000’s of members livelihoods in the balance yet they toss this up. THE FPA IS A COMPLETE CLOWN SHOW!