A lot of people don’t know how to budget and it’s not only those on low incomes who find their expenditure is too close, or even in excess, of their income.
That’s what makes budget advice such an important service and thanks to a boost in funding, more people will be able to get help.
Budgeting services now have the opportunity to apply for extra funding to support their work with low income New Zealanders, with a $2 million funding round open for applications.
“Budgeting services work alongside some of the most vulnerable people in the community, providing the advice and financial skills they need to get ahead, and stay out of debt,” says Social Development Minister Paula Bennett.
“The Government is committed to supporting this work, and in Budget 2014 we announced a $22 million boost for budgeting service providers over the next four years.”
The application process is now open for $2 million in funding, which is intended to support groups who are unfunded or facing demand pressures, and will include organisations not currently supported by the Ministry of Social Development.
Of the funding, $500,000 will be targeted at providers focused on helping people get access to early intervention and using innovative techniques in the work they do.
“Non-government organisations understand communities and the challenges they face like no one else, and budgeting services do an incredible job helping people managing on low incomes get the tools and support they need,” Mrs Bennett said.
“This funding also complements last week’s launch of the Community Finance lending scheme, which will provide low and no-interest loans to people at risk of unethical lending by loan sharks.”
“The Government is standing alongside vulnerable New Zealanders, and the extra funding for budgeting services will help people and families most in need access advice and information to help them build better lives.”
More information and application details are available here.
This is another example of helping people help themselves and will be money well-spent.