Building Financial Capability

What is Building Financial Capability?

Building Financial Capability (BFC) is a range of MSD-funded services and products that help people and whānau to improve their financial wellbeing.

BFC takes a strengths-based approach to empower people to get control of their money, set goals and achieve long-term, sustainable change.

Who can use BFC services?

Anyone who wants advice about their personal or whānau finances can use BFC services and products for free. People can go directly to 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.

• Freephone: 0800 345 123
• Text: 4029
• Email: help@moneytalks.co.nz
• Online chat and more information: www.moneytalks.co.nz

BFC services, products and support

• Financial mentors – one-on-one service focused on helping individuals and whānau with their finances
• MoneyMates – peer-led support groups that encourage people to learn from others as they talk about money and finances
• Building Financial Capability Plus Kahukura – intensive support for people with complex needs
• The Generator – a community action initiative that aims to support income-generating activities by providing seed funding for micro enterprise
• Microfinance and Debt Solutions - affordable credit for people and whānau on low to medium incomes

Financial Capability in Aotearoa New Zealand

Where we are now, where we want to be, and why it matters.

All New Zealanders have the right to financial wellbeing - this paper states MSD’s priorities and goals through to 2024 for financial capability services.

Guidance and resources for BFC providers

This section is filled with useful information for providers of all BFC services, including our requirements for reporting results and client outcomes.

Archive

This section has information about the development and funding of the BFC system.

Funding

• May 2023 BFC Grants successful applicants are listed on the BFC Grants 2023 page.

• Budget 2023 invested $29.188 million over four years (and outyears) for BFC core services. More info on Budget 2023 is in our newsroom.

• Previous Budgets – Read more about Budget 2022 and BFC services and the Budget 2020 funding boost for BFC services.

Design

• The road to BFC – our Co-design of BFC services and research page backgrounds the 2016 co-design and provides links to our research papers, the funding allocation model and how we purchased and priced the core components