Not letting your past money decisions impact your future financial wellbeing
When the Lauitiiti family were told they needed to engage with a budgeting service by their bank they were apprehensive but understood that the bank felt they needed to explore another way for assistance beyond their bank financial hardship team could.
“We made one huge money mistake that sent our family finances into a downward spiral for the last 15months. We ended up in a financial position we never expected to be in. My brother referred us to Mangere Budgeting Services Trust with a glowing review”
The family worked with one of our financial mentors, Tammy Herewini, who helped them to breakdown their income, evaluate their expenses and understand their debt. In a short period, the Lauitiiti family gained a clearer understanding of their financial situation and initiated positive steps forward.
“When families are struggling, they become so caught up in the day to day living and trying to make ends meet that they aren’t able to see how to make changes” says Tammy.
Many people cannot quite see that the little things add up. When you spend $5 a day on a coffee every day this doesn’t sounds like much but when you think about it being over $1,000 a year then that makes a real difference.
Once people know where they are at, and understand their financial situation better, they can start working on creating a realistic budget. This budget serves as a valuable tool, not only for meeting immediate needs but also for making small steps towards debt reduction, starting to save and securing a more financially certain future. This approached work well for the Lauitiiti family.
“We are continuing to make more small positive changes towards a better weekly budget. It has been quite freeing to discuss our money in detail that we had normally taken for granted. We remain hopeful in building up our income again”.
“We can't stop sharing your services in the hope others would seek help when they need. We hope our story encourages others to break down barriers &engage with free services available to keep your finances healthy”
Lara Dolan, the Chief Executive Officer of Mangere Budgeting Services Trust, emphasises the significance of engaging with financial mentors for families seeking to improve their financial well-being. She observes that such collaboration enables families to make informed financial decisions and helps them to realise long-term financial improvements.
“We love when people share what they are learning with their friends and families so that financial literacy can grow. This is what the Lauitiiti family are doing.”
Mangere Budgeting Services Trust is all about educating and empowering people to financial independence and wellbeing. If your whanau needs help please give our team a call on 0508 22 22 83 or email appointments@mbst.org.nz