Building Financial Capability (BFC) is a service that helps people, families and whānau experiencing hardship to build their financial capability and resilience. BFC takes a strengths-based approach to empower people to get control of their money, set goals and achieve long-term, sustainable change.
Anyone in the Wairarapa experiencing financial hardship in their personal life can use our BFC services and products for FREE. You can contact us directly, or be referred by other people or organisations.
Personal Financial Mentoring
We understand that it can be daunting to take the steps to understand your financial situation. Our trained financial mentors understand this and people tell us we are very welcoming, compassionate and helpful. Our financial mentors provide a personal service focusing on empowering people to get control of their money. We work alongside a person, their family and whānau, building trust and taking into account the complexity of their needs.
Financial mentors have a non-judgemental approach and sound financial knowledge. They support people to make connections with local networks and social services to ensure they get the right support at the right time (these can include Work and Income, support services for mental health, addictions, housing, etc.)
This could mean the financial mentor:
- supports and empowers clients to navigate the system to control debt by negotiating reduced payments or generating additional resources
- advocates on a client’s behalf as they are often too stressed to negotiate with creditors or other lenders on their own.
- support a client and their family/whānau to develop a focused Financial Plan of Action to get control of their financial lives
- assess whether a client may benefit by sharing and learning in group support such as MoneyMates .
The BFC Process
This is what happens when we receive a referral for someone wanting financial mentoring:
- We receive a referral – directly from the client, or from another agency they are working with.
- We contact the client (usually by phone) and have a chat about their financial goals and any pressing issues. During this phone call we also gather all the statistical information we need for registering you as a client.
- A financial mentor is assigned to a client. The mentor will contact the client and organise an appointment time. This appointment can take place at our office in central Masterton, or at one of our community clinics around the Wairarapa. (Note we no longer do BFC home visits)
- At your first appointment the client and Mentor will discuss the client’s financial goals and current financial situation. They will go through all expenses, income and debt. From there, they will address pressing issues and prepare a draft budget and debt schedule.
- The client and the mentor will continue to meet weekly or fortnightly until the client is on track to achieve their goals.