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Sorted Seminars & Programmes powered by the Commission for Financial Capability

Sorted by the Commission for Financial Capability

Introducing the Commission

• The Commission for Financial Capability (CFFC) is a government funded agency tasked with

helping New Zealanders become financially capable, puAng them in the best possible posiBon to achieve their life goals and reach reBrement in good financial health.

• Our vision is “Everyone geAng ahead financially”.
• We provide leadership and coordinaBon of the Na#onal Strategy for Financial Capability

(2015), with an increased emphasis on sustainable and enduring behaviour change.

• We do this in partnership with a wide range of government, educaBon, community and

financial sector organisaBons.

• The Commission builds and evaluates financial capability programmes tailored for different

sectors, which are underpinned by our website, Sorted.org.nz.

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Overview – What is Financial Capability?

• Financial capability is:
• about having the skills, knowledge, confidence and moBvaBon to make informed

financial decisions i.e. being on the winning side of our decisions around money

• a skill that every one of us needs if we want to take charge of our lives and build a more

secure – wealthier – future for ourselves and our families.

• How enduring behaviour change can be delivered through seminars and programmes:
• The Sorted Seminars and Programmes give parBcipants those ‘aha’ moments, where

they begin to see the small, but significant, changes they can make to how their families live and have a healthier and wealthier economic future.

• Behaviour change comes from listening, sharing with our peers, and puAng into acBon

the changes we’ve made that will to have long-term impacts.

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Why Financial Capability?

Past programmes

Family/Whanau Day Evening session aVer work at the Warehouse GraduaBon at Air Force 2014 GraduaBon with Governor General, Sir Jerry Mateparae AVernoon session at the Police, HQ

Programme Results

59% 59%

• f participants say they

talk about money with family more often

68% 68%

report have changed spending behaviour

77 77%

say they now have a plan to achieve financial goals

58% 58%

confirm they have reviewed debt

71 71%

claim they have changed saving behaviour

25% 29% 38% 14% 4% 21% 59% 61% 79% 50% 33% 48% 0% 10% 20% 30% 40% 50% 60% 70% 80% 90% 100% Confidence dealing with daily money matters Control over financial situation Have a budget (yes) Have a plan to help reach retirement goals (agree) Worked out how much I need for retirement (agree) Have a savings plan to purchase own home (agree)

Be Before re and af and after: r:

Before Programme After Programme

*Source: Report on the outcomes of Financial Capability Programmes. Base, n= (318) Baseline Consultancy, January 2017.

How good was the programme? The parBcipants said...

I’ve renegoBated my mortgage and shaved off 13 years from it! I’ve changed my KiwiSaver provider, set up a “rainy day” savings account I don’t touch and set up my own will My wife and I are talking much more about our finances. The Family Day was a turning point for me. I have made a major change in my lifestyle which has improved my current situaBon and future. There was something useful in every lesson. This is posiBvely the best course I have done. I was totally

• engaged. Just a shame it

was available for me years

• ago. I am recommending it

to everyone. Bought less coffee, cancelled gym membership, increased mortgage payments and frequency of them, stuck to $100 weekly food budget. The goal seAng was probably the most valuable part

• f the course. I

made a 6-month plan to pay off debt and had actually become debt free by the end of the course. I joined KiwiSaver, put it in a growth fund, filed my taxes, reviewed my insurance policies and bought a house with my sister I believe I have been able to achieve all I have because your course gave me the tools to implement what I wanted to do and the confidence to do so. I can now focus posiBvely on money and finances instead of always stressing about the situaBon. I have implemented something from every

• session. I acted and

did something to make a change! Today I put my kids educaBon accounts into term investments. The best programme for life and living!

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The Challenge of Change

Challenges / barriers to success

• Pitched too long
• Programme of 9 weeks - too long, unsustainable
• Non-flexible – unable to choose modules specific to audience
• Facilitators style, tone and language not adapBve enough to audience
• One size fits all programme not as scalable

Future Proof Project

• Internal review – design, delivery, implementaBon, logisBcs, processes, gaps to success,

recommendaBons for future

• Client, facilitator, parBcipant review – met with clients, approx. 400 facilitator reports and

3000 comments

• Research - Our qualitaBve and quanBtaBve research has supported our work to develop a

triage tool, placing people in one of three groups: intensive care, on the ward, and GP visits.

SLIDE 10

3% 19% 29% 35% 10% 4% 0% 10% 20% 30% 40% 50% Flying ahead Swimming happily Starting to swim comfortably Just treading water Sinking a bit Sinking badly

GP visits OTW ICU Nearly two-thirds of New Zealanders describe their financial posi7on as either star7ng to swim comfortably (29%) or just treading water (35%). A minority of this sample are in what we might call ICU (those sinking financially 14%) or in a strong financial posi7on (22%)

How would you describe you current financial situaBon?

Sample size: 1014 Baseline Consultancy Reference

Sorted Suite of Behaviour Change Programmes

Get Ahead

Building a foundation, addressing financial stresses and visualising the future, that leads to positive financial behaviour change.

Be Ahead

Challenging the norms (social / beliefs / attitudes / habits); addressing self denial mechanisms; choosing to visualise the future differently that leads to improved financial behaviours.

Fly Ahead

Optimising financial behaviour through in- depth understanding, that leads to financially healthy decisions and actions.

Behaviour Change Programmes

What it is…

• Sorted ‘Get Ahead’, ‘Be Ahead’ and ‘Fly Ahead’ Programmes are quality behaviour change programmes that support

conBnuous learning on personal financial maners

• Independent, imparBal and not aligned with any financial service provider or products
• Drives behaviour change triggered by an understanding of ‘what’s in it for me?’
• Designed to embed behaviours so they remain with parBcipants over the medium and long term
• AcBviBes are based on learning by doing with life centred problems for immediate use
• Supports the power of habit for change where rules of thumb are weaved throughout the programme
• Underpinned by Sorted.org.nz with blended learning opportuniBes embedded throughout
• 2-3hrs per week (dependent on group size) where the parBcipants can come up with the best soluBons for their own

circumstances

Why partner with us?

• Our Sorted Programmes are tried and tested so we know it works!
• You have the ability to customise length and delivery approach so the programme works for you and your parBcipants

e.g. from 4 weeks to 10 weeks. A modular approach

• We can survey your potenBal parBcipants through a broad Commission-developed financial capability segmentaBon that

will idenBfy programme or content topics best matched to their needs and best return on investment

• Sorted Programmes have two refresher workshops that have been designed to deliver at 6 and 12 months post

programme compleBon to support sustainable behaviour change over Bme

Commission-Affiliated Facilitators

Our Commission-Affiliated Facilitators deliver the programme and:

• Are independent, neutral and imparBal in keeping with the Commission’s programme. They
• Do not give financial advice
• Nor do they endorse or dismiss any specific products, services, beliefs
• Or offer to make specific referrals to product/service providers, financial or otherwise.
• Are matched to organisaBons and the programme requirements.
• Come from a variety of personal, professional and cultural backgrounds including community,

finance and commercial sectors. Many are authorised or registered financial advisors.

• Are highly skilled in creaBng a relaxed and open learning environment, where parBcipants

exchange ideas, informaBon and learn from their peers.

• All have completed the CFFC Facilitator training programme which covers content, facilitaBon,

adult learning principles, behaviour change, self-reflecBon and cultural competencies.

• Are selected, trained and regularly observed through a robust quality assurance framework.

“Facilita(on is the art, not of pu4ng ideas into people’s heads, but of drawing ideas out.”

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Partnership Programmes

• The Commission’s Community team; GM Community – Peter Cortdz, Manukura

Manager - Alexander Stevens, Manukoloa Manager – Tim Swann and Community Development Manager – ClemenBne Ludlow

• Partner with providers in the community to embed financial capability into exisBng

programmes of work

• SupporBng outcomes and objecBves of provider partnerships e.g. smoking

cessaBon, housing, problem gambling

• The Commission trains the provider facilitators in financial capability e.g. social

workers, counsellors, whānau ora navigators

• Provider implements and manages programme delivery and outcomes

Partnership Programme Examples

Sorted Smokefree

Sorted Smokefree 2025 is an exciting new hybrid programme bringing together wealth and health messages to support people to become financially capable and smokefree.

Sorted Regeneration

A tailored financial capability programme designed to facilitate Tāmaki families to move into affordable and market housing

• ptions through a

Pathway to Housing Independence programme.

Sorted Resilience

Growing strong pacific families. Through the Sorted Resilience programme, families will learn life skills and grow resilience for their survival. We believe financial capability is essential for living an independent life.

Sorted in Schools

• The Commission’s EducaBon team; David Boyle – GM EducaBon, Angela Clemens –

EducaBon Manager

• Sorted Schools programme: 2014-2017 support partner schools to explore how

financial capability can be delivered in their local school curriculum

• Providing professional learning for teachers
• Provide an online teaching community (forum/discussion space) with a facilitator to

support teachers in schools to do this in their own seAngs, across the country

• Provide a collecBon of resources for teaching and learning financial capability
• Support partners to the naBonal strategy with their curriculum or school related

iniBaBves

Capability Resilience Choice

Why community seMngs are a great place to discuss financial capability

• Online tools and calculators, booklets, apps
• One-off seminars to long term behaviour change programmes
• Partnering with local community groups contribuBng to NaBonal Strategy regional

networks and COLs

• SupporBng local communiBes to implement programmes and seminars
• Peer to peer delivery observaBons
• Ongoing quality assurance support
• PotenBal train the trainer opportuniBes

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Sorted FighBng Fit Seminar

• Sorted Figh#ng Fit seminar is independent and imparBal and not aligned with any financial service provider or

products.

• Sorted Figh#ng Fit seminar is the taster workshop for the Workplace Programme. It’s a 2-2.5 hour seminar (up

to 100 parBcipants per programme) delivered by Commission-Accredited Facilitators

• The emphasis is on the interacBve seminar with acBviBes, where parBcipants are encouraged to share ideas

and experiences.

• Topics covering:

1. Money aAtudes 2. Needs and wants 3. Spending diary 4. BudgeBng 5. Money systems 6. Goals 7. Emergency funds 8. Compounding interest 9. True cost of credit

• 10. Insurances
• Sorted Figh#ng Fit Seminar concludes with a brief seminar feedback form including the value of the seminar to

parBcipants, facilitator delivery, changes parBcipants may make as a result of the seminar and quesBons what topics the parBcipants would be interested in if offered as part of a longer series of seminars/workshops.

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Sorted Seminars

• The Sorted seminars are independent and imparBal and not aligned with any financial service provider or products.
• The Sorted seminars are:
• 1-2 hour seminar (up to 100 parBcipants per programme) delivered by Commission-Accredited Facilitators
• The emphasis is on the interacBve seminar with acBviBes, where parBcipants are encouraged to share ideas and

experiences

• Seminar topics offered are:

1. Sorted - GeAng ahead 2. Sorted - Set your goals, make a budget 3. Sorted - Tackling debt 4. Sorted - Dialling up a KiwiSaver 5. Sorted - Financing a home 6. Sorted - Saving and InvesBng 7. Sorted - ReBrement Planning

• Sorted seminars conclude with a brief seminar feedback form including the value of the seminar to parBcipants, facilitator

delivery, changes parBcipants may make as a result of the seminar and quesBons what topics the parBcipants would be interested in if offered as part of a longer series of seminars/workshops

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Other organisaBons using Commission’s programme

Future Programmes

2017-2018 will see the Commission for Financial Capability partnering with further government, commercial and community sectors to roll the programme out on a naBonal scale. Workplaces Community OrganisaKons

• The Warehouse Group
• New Zealand Police and Families Credit Union (for

NZ Police)

• New Zealand Defence Force (Airforce, Army, Navy,

HQ, Force 4 Families)

• Z Energy (retailers)
• Tasman InsulaBon New Zealand Limited (Pink Bans)
• New World, Halswell
• St George’s Hospital
• Pacific Media Network
• LaBtude Financial Services
• Tāmaki RegeneraBon Company
• ADRA New Zealand
• Vaka Tautua
• Raukura Problem Gambling
• Women’s Refuge
• Te Kura Māori o Wātea
• Nga Whare Wātea (Marae based programme)
• The Warehouse Group – Financial Services
• MWDI – Māori Women’s Development Inc.
• Church of Tonga
• MPHS Community Trust
• Sorted Smokefree - Hāpai te Hauora – Quitline & MOH

How can the Commission partner with you?

• What can we do right now?
• Sorted seminars – guides and presentaBons downloaded direct from Sorted.org.nz website
• Sorted facilitator training – delivered by the Commission annually
• Quality assurance – support from the Commission to ensure quality of seminar delivery is

maintained through annual observaBon and coaching opportuniBes

• Web Portal COP – access to forum, tools and resources for facilitators
• Contribute to NaBonal Strategy regional networks and COLs
• Looking to the future
• Become a Commission-Affiliated Facilitator
• Programme Partnerships
• Support local communiBes to implement programmes and seminars
• Build peer to peer delivery observaBons
• PotenBal train the trainer opportuniBes

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Building financial capability

Rebecca Cameron-Turner Programme Delivery Manager