Mission Possible: Helping New Zealanders get sortedPosted to Financial Capability on 05-10-2016
Helping New Zealanders get ahead financially is a big mission. That’s why the Commission has developed a network of facilitators – in fact, we have more than 80 facilitators all over the country!
They’re our people on the ground working to make a difference by running face-to-face Sorted financial capability programmes that equip New Zealanders to change the way they think about and manage their money.
People who have completed our programmes appear more confident in dealing with day-to-day money matters and feel more in control of their financial situations. And importantly, this translates into real behaviour change.
On average, by the end of a course 86% of participants have a budget (a 51% increase) and 83% have a plan to achieve their financial goals (a 57%) increase, which can range from buying a home to saving for a comfortable retirement. *
"Team members who were initially cautious about attending are opening up to the value in talking about managing their money and the different choices they have." - Kirstin Jones-Elms, The Warehouse, Wainouiamata
The programmes draw heavily on behavioural economics about present bias, social norms and the mentality of scarcity, acknowledging that when today is bad it’s harder to think about tomorrow. They work, in part, because they give people the head space to step back and think long-term.
One of the great things about the programmes is that they are often held in a familiar setting - for example, a workplace, community group or church group - and with people who know each other, which can make it more comfortable for people to open up and talk about money.
The Sorted programmes touch on all five streams of the National Strategy for Financial Capability: Talk, Learn, Plan, Debt-smart and Save/Invest. Their facilitative nature and emphasis on an applied discussion to the individual's situation and goals is what leads to sustainable changes – not working through a handbook week by week.
"That programme really opened my eyes to the fact that living in debt is just a waste of time." - Programme participant
From financial advisers and mentors to accountants, social workers and teachers, our facilitators hail from all walks of life. They guide participants through sessions, enabling them to reach their own conclusions about what’s right for them and experience their own ‘aha’ moments.
What facilitators do have in common is that they’ve all completed our rigorous training process and are regularly evaluated to ensure their performance meets standards.
We have over 60 Commission-affiliated facilitators and over 20 Sorted facilitators trained and ready to deliver our financial capability programmes and seminars across New Zealand.
Commission-affiliated facilitators deliver our longer-term programmes in workplaces and community settings while Sorted facilitators deliver our one-off seminars.
Sorted seminars are approximately 1-2 hours long and cover topics such as budgeting, goal-setting, saving, debt, KiwiSaver and retirement planning. These easily digestible presentations are available for download on the Sorted website.
Want to know more?
* December 2015 Report on the Impact of Financial Capability Programmes, Baseline Consultancy
Next: Retirement Commissioner urges calm over KiwiSaver funds