Building Financial Capability
What is the purpose?
- Building Financial Capability (BFC) services
help New Zealanders experiencing hardship to
build their financial capability and resilience. The
services are integrated and connected, making
sure people get the right support when and how
they need it.
What services are available?
- BFC services include:
Financial mentors: one-on-one service
focusing on helping people, families and
whānau with their finances
- BFC Plus: intensive support for people with
more complex needs
- MoneyMates: peer-led support group
programme that encourages people to learn
from others as they talk about money and
finances in a group situation.
We have trained financial facilitators at your service that will support you to gain financial control over your life through advice, support, education and mentoring.
Together with your facilitator you will build a financial plan and regularly meet with facilitators to discuss and review your progress. Facilitators are willing to support you to become successful in achieving your financial goals.
You will also learn how to access, understand and use the financial tools you need to be independent and make great decisions for your whanau. These include:
- Building a relationship with your money
- Learning about “your money personality”
- Prioritising your needs over your wants
- How to have difficult conversations about money
- How to make SMART goals
- Keeping track of your money
- Keeping a spending diary
- Budgeting for your whanau
- Dealing with debt
- How to reduce debt
- Borrowing sensibly
- Good debt – Bad debt
- Reading a contract
- Saving: for goals; for emergencies
- Getting all your entitlements
- Paying it forward