Building Financial Capability

What is Building Financial Capability?

Building Financial Capability (BFC) is a range of services and products that help people, families 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 people, families 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, families, and whānau on low incomes

Budget 2022 funding

Our Newsroom has new information about Government's $21 million investment over two years to support BFC services for individuals and whānau.

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 tools and requirements for reporting results and client outcomes.

Archive

This section has information about the development of the BFC system, and some completed initiatives.

• Designing BFC – our Co-design of BFC services and research page backgrounds the 2016 co-design and provides links to our research papers
• Funding BFC – Find out more about the funding allocation model and how we purchase and price the core components
• Budget 2020 – funding boost for BFC services – Government's investment of $39.2 million over four years to address cost pressures on services and as part of the response and recovery from COVID-19
• SCAFI – The Safer Credit and Financial Inclusion strategy – a partnership across Government and the financial services sector to help New Zealanders access affordable, appropriate products and services