Partner Spotlight: Bridget Lem, PMG Charitable Trust

We caught up with Bridget to learn about her as an individual.

Tell us a little bit about yourself and your background.

I’m General Manager and Trustee of the PMG Charitable Trust. I have a background in marketing, communications and public relations both in New Zealand and overseas and within the corporate and not-for-profit sectors.  Now with three sons (two teens and a preteen) I’m passionate about doing whatever I can to help the next generation to thrive.

How did you get into the area of work you’re in?

While working for PMG Funds (a commercial property funds manager), I jumped at the opportunity to be involved in setting up the PMG Charitable Trust.  During the first Covid lockdown in 2020, we saw what was happening to New Zealand families – from households losing their incomes and livelihoods with nothing to fall back on and as a result, increasing Government and Household debt.  

We realised this debt was going to take generations to pay back, with the likelihood being the majority of this burden would fall on the next generation (our children and grandchildren).  Being closer to our own children’s learning in lockdown, we realised that young people were not being taught much, or very little, about money management at school, and hadn’t been for almost two decades.  As a result, New Zealand has one of lowest levels of adult financial literacy in OECD nations.  

So we looked into how we could be part of the solution; how we could support schools, the education system and the great organisations already doing some great things in the financial literacy space.  From that the Trust was born with a sole purpose to help young New Zealanders build better financial futures through collaboration with the financial literacy sector, organisations and PMG Fund’s network.

What motivates you to do what you do?

My three sons, their peers and Aotearoa New Zealand.    I know this sounds lofty.   But the wellbeing of the next generation depends on how well New Zealand does economically in the years ahead. We know that financial wellbeing impacts all manner of things including our physical and mental health.   So if we can help the next generation successfully navigate an increasingly complex financial world, the whole nation is better of,  with more people able to pay taxes, leading to more funding for education, health, infrastructure and welfare support for those who need it.  

I know every generation has its challenges, but young people today are exposed at a younger age to  number of complex issues that have arisen with the rise of technology, 24/7 communication, and social media (which can be both good and bad). They are also navigating tricky gender and ethnic identity questions, a stretched education system and increasing complex financial system with tempting, complicated products such as deferred payment schemes without the support or education to fully understand the risks.

So if I can help my sons and their peers plot a course through all of this, improve their money management skills and knowledge and therefore their financial futures, then not only will the next generation be better equipped financially, so will our country.

What is the best piece of advice you’ve ever received?

My Dad gave me the best money advice when I was about to embark on my OE:  ‘Always keep a Rainy Day Fund no matter how small your income’.  I can’t tell you how many times this has gotten me out of trouble!!    

Knowing what you know now, what is one thing you would do differently if you were to start again?

I would have started saving for my retirement earlier – small amounts often lead to exponentially better results.

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