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BFC Co-design and research

On this page you can find information about the co-design of Building Financial Capability and the findings of research that has been carried out.

Co-design is based on the idea that those closest to the problem have the expertise, insight and motivation to solve it. Through interviews, group discussions, workshops and 'sprints' and feedback through our dedicated email address, we engaged with over 500 people to design the new way of working.

Research and publications

Overview of Building Financial Capability

This document gives a brief overview of the co-design of the BFC services, and our theory of change.

Voices of people experiencing hardship

This document features stories from service users who talked to us as part of the co-design. It summarises key insights that they shared with us, and describes opportunities to better support people experiencing hardship at various points in their lives.

Voices of people in hard-to-reach communities

This document offers a first step to better understanding the needs of people in hard-to-reach communities, the barriers they experience in building financial capability and the types of supports they may need to improve their financial resilience.

Overview of services

Services for people, families and whānau experiencing hardship provides an overview of BFC services and the principles that underpin them.

Literature Review

To support the co-design, we undertook a literature review to consider what works to build the financial capability of people, families and whānau experiencing hardship in New Zealand.

Frameworks and approaches for building the financial capability of New Zealanders experiencing hardship: A high level literature review

Frameworks and approaches for building the financial capability of New Zealanders experiencing hardship: What the literature says

Sector feedback

Input and support from people experiencing hardship, service users and providers is an important factor in ensuring the range of financial capability services are successful.

We will continue to work with clients, providers and experts as we test new resources and further develop how services will be delivered over time.

Current consultations

Total Money Management review

We’re carrying out a review of the Total Money Management (TMM) practice. TMM is where a third party takes over responsibility for managing of all or part a person’s money to help them meet their financial obligations, such as debt and bills.

Our TMM review is being carried out in two phases. Phase one is a current state analysis of TMM to understand the various practices and processes nationwide. The aim of this was to find out if TMM could fit within BFC services. We completed phase one July 2020. To find out what we learned from phase one, please read the one page summary.

We are now looking at phase two which will refine the current processes to create a ‘best practice’ resource for TMM. Phase two will also explore options to streamline the TMM practice and possibly make it widely accessible as a BFC tool. TMM definitions and terminologies will also be looked at as part of phase two to ensure consistency across Aotearoa New Zealand.

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