What happens in a MoneyMates session?
Facilitators lead group sessions to talk openly about money and finances (not necessarily about their own debt, but about, choices, options and behaviours).
Together, over several weeks they can:
- Learn more about getting control of debt, budgeting and cash flow, financial products, safer credit and growing their resources
- Learn from other people who are in similar situations, share their own insights and knowledge and build support networks with people going through the same experiences
- Access other information and support such as helplines and the Sorted website
- Build up their networks with whānau and their community.
Some of the topics covered in sessions include:
- Your money personality and how we relate to money
- Identifying needs and wants
- How to have difficult money conversations
- Financial planning
- Financial goals and how to set them
- Behaviour changes and how to keep track of money
- Spending diaries and budgeting
- DIY budget
- Understanding the financial and emotional costs of debt
- Managing and paying back debt
- Borrowing sensibly
- Credit cards, credit contracts and your credit rights
- Your credit rating – what it is and how to improve it
- How to save
- Compound interest
- Taxes and entitlements
- Know what’s available in your community
Achieving financial goals
Joining a MoneyMates program can help people get on their feet financially, help them to manage their day-to-day cash flow needs and get a handle on debt.
Saving, investing, home ownership and a comfortable retirement are achievable financial goals that are available to everyone.