Across Aotearoa over 600 dedicated financial mentors are walking alongside whānau every day, as they navigate a pathway toward financial well-being. As highlighted in the Budget Policy Statement, having an income that can meet the needs of a whānau is a key factor in the life satisfaction of that whānau. Financial mentors are the best-equipped experts for supporting whānau in navigating their money management with the increasing cost of living, which is compounding already present stresses for many.
With child poverty and the well-being of whānau and their tamariki being a key focus of future work, FinCap highlights two key areas for addressing this issue; the first is increasing funding for financial mentors, and the second is addressing the barriers created by debt to government. Both are key for addressing child poverty in Aotearoa. The following submission outlines these issues and points to why it is crucial that these are recognised in Budget 2023.