Partnership to propel financial literacy
A new collaborative effort between the Booster Foundation and Massey University’s Financial Education and Research Centre (Fin-Ed Centre) aims to elevate and standardise the expertise of financial capability providers, such as budget advisers, across New Zealand.
This initiative addresses the absence of formal development standards and pathways within the sector.
Addressing a critical need for upskilling
Pushpa Wood (pictured above), director of the Fin-Ed Centre, highlighted the current landscape where numerous facilitators offer financial capability training but with inconsistent levels of expertise.
“Upskilling this workforce will help meet the increased need for people to learn how to get on top of their debt, save and become more financially resilient,” Wood said.
Wood, a veteran in the field and recipient of the New Zealand Order of Merit, has been a prominent advocate for financial literacy.
Enhancing financial resilience
Anika Speedy, CEO of the Booster Foundation, emphasised that the partnership aligns closely with the Foundation’s goal to foster financial resilience across the nation.
The program seeks not only to enhance the skills of financial educators but also to ensure their training is formally recognised.
Accredited training program
The new workforce development program will offer accredited competency training through Massey University, featuring specialised modules tailored for real-world application.
The modules will be delivered by experienced financial capability providers to ensure practical and impactful learning.
Impact on practitioners and clients
Financial adviser and Massey University alumnus Joshua Matthews shared how his education prepared him for a successful career in the sector, underscoring the value of realistic, scenario-based training.
David Verry, a financial mentor with North Harbour Budgeting Services, praised the Financial Capability Practitioners Course for enhancing his skills and preparing him for media engagements.
Looking to the future
The initiative is a part of a broader effort to professionalise the financial capability sector.
Wood expressed her long-term vision for the project, which has been supported by various training providers, and called for further collaboration to strengthen the sector.
Ongoing support and research
Over the next three years, the Booster Foundation will continue to support the Fin-Ed Centre’s mission by funding financial capability research and consultancy services.
This endeavor aims to elevate the financial acumen of New Zealanders by improving their knowledge, attitudes, and behaviours towards money, furthering the reach and impact of this vital training.
Visit this webpage for the Massey University media release.
