Financial Capability Trust Newsletter
In the past 10 weeks I have visited a cross-section of just over 40 budgeting services. Some are members of BACN, some ABC, some the former Federation, some CBNZ, not part of any network. Our Trust is working with all of them. It has been a privilege to do that, and to have frank, meaningful and largely future-focussed discussion to help me understand more about our large and diverse whānau of budgeting services.
Some of the themes of what I heard are in a series of short discussion papers which will form the core of the morning session at our forthcoming round of Regional Meetings. The feedback from those sessions will be fed to our Board, meeting on 5 October to focus on our strategy going forward. Many thanks to those of you I have met, thanks for the home baking, and thanks for the warm understanding and energy for progress - which is nothing short of inspiring. Now on to those Regional Meetings, which promise to be a crucial stage in our development.
Banks and privacy waivers
Nearly 50 budgeting services responded with issues around privacy waivers and the banking sector. That was presented as a submission to the NZ Bankers Association; they received the message loud and clear, and are taking the recommendations (previously circulated to all services) to their members. They have asked us to look at the wording of the current waiver document then present back to them, with a view to generating waiver for all banks, possibly for other sectors as well. We will be seeking input on this as part of the Regional Meetings.
“Buy Now, Pay Later” comes to New Zealand – what do you know?
Between May and August this year four new Buy Now, Pay Later companies – Afterpay (with Trade me), Laybuy, Oxipay and PartPay – started up in New Zealand. We are keen to know if you have identified any issues arising from their operation – see this article for more details of their work and possible concerns. Let me know on email@example.com.
We have been contacted by one of the Kiwisaver default providers seeking an accord to enable them to recognise and support the input of budget advisers/financial mentors in their work, especially around hardship withdrawals. We will be seeking input once things are formed; any off the top of the head ideas of what procedures etc you would want to see included would be welcome. Let me know at firstname.lastname@example.org.
A few services told me during my visit of reports which they had received from clients who had debts owed to banks, and had been asked by the bank to initiate a Kiwisaver withdrawal to finance the repayment of their debt. In some cases, the Kiwisaver fund had some link to the bank. I would be interested to have any specific examples of cases.
Christian Budgeting New Zealand (CBNZ) are organising professional development opportunities for financial mentors. There are two further training sessions scheduled, an insolvency webinar and strength-based training.
• Insolvency for financial mentors (webinar)
o Thursday 14 September, 1pm
This is a more advanced webinar and is aimed at experienced financial mentors, however new mentors may also benefit from attending.
This insolvency webinar is led by Russell Fildes (official assignee & South Island Regional Manager – Insolvency & Trustee Service) and Richard McCulloch (deputy assignee & National Resource Group team leader – Insolvency & Trustee Service)
• Strengths-based training 201 (Alana Billingham)
o Tuesday 31 October, 9.30am-4pm, Auckland
This strengths-based training will build upon the training already delivered by MSD trainers. It would be advantageous, though not a pre-requisite, to have undergone the initial strengths-based training previously offered by MSD. If you haven't and are interested in attending one of the initial strength-based trainings, please contact email@example.com
For more information or to enrol go to www.cbnz.org.nz or contact Sarah on 03 342 7569 or firstname.lastname@example.org
You can also use the following link to register http://bit.ly/cbnz2017
CBNZ are very grateful to NZ Lotteries and COGS for helping it to provide training to budgeting services at heavily discounted prices.
Financial Mentor Training (aka technical training)
We have begun the redesign process for the financial mentor training with the first steps including contracting a workplace training designer to carry out a training needs (skills) analysis. This step will highlight the skills and knowledge required that a financial mentor will require to carry out their role.
In the mean-time, and while the redesign is being carried out there is an interim training option. It is best to contact email@example.com or 027 3247749 to discuss your options here.
There are interim trainings starting around the country soon:
• Warkworth/Wellsford starting 17th October (but this may be full)
• Timaru starting in October (date to be confirmed)
• Hamilton starting in October (date to be confirmed)
• Hawkes Bay starting late September (this is full)
We are getting to the end of the introductory strength-based training sessions with one confirmed for October 16 in Otahuhu and one confirmed for 25 October in Takapuna, with a couple more being finalised for Whangarei, and Timaru.
The details of the Otahuhu training are:
Anglican Trust for Women & Children
10 Beatty Street
9.30am to 4.00pm
The details for the Takapuna training are:
• Auckland North Community & Development
3 Gibbons Road
9.30am to 4.00pm
There is no cost to attend the training and if you would like to attend contact firstname.lastname@example.org.
Senior Training Advisor
Regional Hui update
0508 Budget free-phone service
Many of you will be aware of our free-phone line, but here’s a refresher course.
0508 283 438 (0508 BUDGET) serves callers from the public, from around New Zealand. Most of the callers are on low incomes and are struggling with debt. More than 2000 callers used this service over the last twelve months.
The service provides:
If your service is unable to deal with calls (eg sickness, training, holidays) you are welcome to add 0508 283 438 to your phone message, as your client/caller may be able to be helped temporarily by our financial mentor. Such calls will be followed up with an email to the service.
Financial Mentor Service Advise
Good news stories
Who is New Zealand's precariat?