Family - Three generations

Building Financial Capability

What is Building Financial Capability?

Building Financial Capability (BFC) is a range of services and products to help people, families and whānau experiencing hardship to build their financial capability and resilience. BFC takes a strengths-based approach to empower people to manage their finances, set goals and achieve long-term, sustainable change. The products and services range from prevention to targeted support for people with multiple and complex needs.

Anyone experiencing financial hardship in their personal life can use BFC services and products for free. They don’t need to be receiving support from Work and Income. People can go directly to BFC services themselves or be referred by other people or organisations. Contact the free financial helpline MoneyTalks for confidential advice and to be connected to BFC services.

BFC services, products and support

  • Financial mentors – one-on-one service focused on helping people, families and whānau with their finances.
  • MoneyMates – peer-led support group programme that encourages people to learn from others as they talk about money and finances in a group situation.
  • BFC Fund – initiative to support communities experiencing hardship to become financially capable and resilient.
  • MoneyTalks – free financial helpline that provides confidential advice to people in difficulty and connects them with BFC services in their community.
  • Community Finance Initiative – affordable credit for individuals and whānau on low incomes.
  • The Generator – generating prosperity through community action and enterprise in New Zealand communities that are the most vulnerable to poverty.

These services are supported by:

What’s coming next

We are now working with the sector to co-design the following services:

  • New service (interim name BFC Plus) being co-designed for vulnerable clients experiencing crisis who have low financial capability.
  • Financially inclusive products: a savings trial – for people, families and whānau in hardship to build savings alongside financial capability, to buffer them from financial crises and enable them to grow.

Co-design of the new services

The new BFC services and products are being developed through a co-design process. Co-design is based on the idea that those closest to the problem have the expertise, insight and motivation to solve it. Enabling input and support from people experiencing hardship, service users and providers is an important factor in ensuring new financial capability services are successful.

Find out more about the co-design of BFC services

Guidance and resources for providers