Kiwisaver group offers free, online programme

In its inaugural Annual Review, the foundation says its unique programme to build financial capability is helping numerous New Zealanders.

Since 2009, Ngā Tāngata Microfinance (NTM) has been offering interest-free loans to New Zealanders who’ve hit a rough patch and don’t know where to turn. The Booster Foundation partnered with NTM in 2022, to build a free, online education and support programme ‘My Money Kete’ that empowers financially vulnerable New Zealanders to learn how to manage their money more effectively. It’s offered to NTM’s current client base of low-income New Zealanders with active NTM microloans, and any new loan applicants and users of their website.

‘Kete’ is a Māori term for a traditional woven basket, and Jade Tapsell, outgoing CEO of NTM says it’s a good metaphor to illustrate all the resources it holds; online workshops, videos, social posts and step-by-step guides, including budgeting tools, savings tips and debt management resources.My Money Kete has more than 2600 members.

A survey of them found:
• 56% of participants have a better understanding of money
• 66% have learnt and improved how to budget
• 49% have started to make regular contributions to KiwiSaver
• 77% understand the difference between good vs bad debt
• 45% reported increased savings
• 45% have an emergency fund