Local Govt | National News Video | Parliament Headlines | Politics Headlines | Search

 


New Community Financial Independence Collective in Tamaki

Growing Financial Independence in Tamaki (G-FIT)

Media release

June 2014

New Community-Based Financial Independence Collective Launches in Tamaki

An innovative new approach to increasing financial independence in the Tamaki community launches on 26 June at a lively event at the Ruapotaka Marae in Glen Innes.

G-FIT (Growing Financial Independence in Tamaki) is a community-based initiative that will drive action and raise awareness of financial issues, and connect Tamaki residents to home budgeting, financial literacy knowledge, money saving for example reducing power costs, growing your own vegies, skills and employability, low interest lenders and consumer affairs.

G-FIT steering group member Puamiria Maaka says debt, poverty, low levels of home ownership and a high concentration of state housing in Tamaki means that families are often struggling with multiple obstacles when it comes to their finances:

“The Tamaki community is experiencing rising unemployment, going up from 6% in 2006 to 9.2% in the 2013 Census, as well as constant harassment from loan trucks and fringe lenders. Most of the time people here desperately need instant cash, clothing, or food and simply don’t realise the long term impact of a misinformed financial decision.”

Going to where the people are

Maaka says: “G-FIT is taking a different approach. We will go to where the people are, and connect them with other locals (the G-FIT ambassadors and coaches) who speak in a way the community understands, respects and can apply in their own life.

Maaka says that educating people about the long-term effects of high-interest loans from fringe lenders and the clothing trucks that target low-income areas is a key step in reducing household debt and dependence on unscrupulous finance companies.

“G-FIT is not aligned with any bank or financial lender, so we can ensure our community gets access to the right support and advice, without an alternative motive. We are happy to work alongside banks and providers, but G-FIT is an independent organisation for Tamaki.”

Evidence-based approach

“We are taking an evidence-based approach to increasing levels of financial independence in Tamaki. After an extensive research project in late 2013, we found that there is a vague awareness of debt and poverty in Tamaki, and most people feel that there is a local concern, but there is no immediate motivation to do anything about it. G-FIT will drive action for financial issues in Tamaki and motivate the community to take action.”

Providing tools and support for residents

“In Tamaki, there is no shortage of financial and budgeting services; the problem is capacity and effectiveness. For many families, going to a budgeting centre or food bank doesn’t usually happen until crisis point. That’s not a solution, that’s a band aid to the symptom.

Maaka says: “G-FIT will drive effective, long-term sustainable change for Tamaki residents and their attitudes, awareness and actions towards money, wealth and independence. Our first step is the launch event, which brings together community members, young artists from The Roots collective who are creating a G-FIT art installation, local media, our steering group and providers who work in the area serving the people of Tamaki.”

-Ends-

For more information and to arrange interviews with G-FIT or to be connected with an ambassador or coach, please contact Mikela Dennison on mikela@theclaritybusiness.co.nz or 021 294 6741.

Background

• Tāmaki is an ethnically diverse community with a young and growing population

• Many families have low and / or irregular incomes and few material assets. A number of families have growing debt and intergenerational unemployment

• High levels of debt drive high-cost lending (added to by aggressive loan trucks and high-interest loans from fringe lenders)

• There is a lack of home ownership, and a high concentration of state housing (56%)

• There are a number of providers of financial literacy services in Tāmaki, but the majority are over-capacity and most often deal with families in crisis, rather than pre-emptively equipping families to manage their money and service debt

• The community has high levels of deprivation, low levels of educational achievement, low labour force participation, low incomes, high unemployment, and high dependency on social security benefits.

• Poor credit ratings with mainstream financial providers (i.e. banks) and as such many are in debt to fringe lenders


© Scoop Media

 
 
 
 
 
Parliament Headlines | Politics Headlines | Regional Headlines

 

PARLIAMENT TODAY:

Missed Opportunities: Amnesty International Report Card On NZ's UN Role

As New Zealand steps down from its month as President of the Council, Amnesty International has taken the opportunity to review New Zealand’s role on the Council so far and assess their performance and contribution to protecting human rights worldwide. More>>

ALSO:

Prince Charles Get More Jobs: PM Announces Honorary Military Appointments

PM John Key has announced that Her Majesty The Queen has approved the appointment of HRH The Prince of Wales to three honorary positions: Admiral of the Fleet of the Royal New Zealand Navy; Field Marshal, New Zealand Army; Marshal of the Royal New Zealand Air Force. More>>

ALSO:

No TPP Deal: Gordon Campbell On Why We Should Still Oppose Investor-State Dispute Measures

Even in this dark hour for the TPP, the secrecy farce continues... What is left to hide? Every single negotiator went into those talks in Maui knowing exactly where everyone else stood. More>>

REACTION:

Salvation Army On Homelessness: Hard Times In West Auckland

The report details an uncomfortable story of people whose only option is to live an unhealthy, dangerous and damaging street life... The social housing needed by these people is not currently available in sufficient quantity. More social housing is required in the West. More>>

ALSO:

Message For PM: NZ Supports Te Reo Māori – You Should Too

As Māori Language Week celebrations and commemoration of 40 years draws to an end, the Māori Language Commission, Te Taura Whiri i te Reo Māori, is once again hugely encouraged by the widespread support for Māori language from throughout the country ... More>>

ALSO:

Arming Police: Frontline Police To Routinely Carry Tasers

"In making the decision, the Police executive has considered almost five years worth of 'use of force' data… It consistently shows that the Taser is one of the least injury-causing tactical options available when compared with other options, with a subject injury rate of just over one per cent for all deployments." More>>

ALSO:

Gordon Campbell: On D-Day For Dairy At The TPP

While New Zealand may feel flattered at being called “the Saudi Arabia of milk” it would be more accurate to regard us as the suicide bombers of free trade. More>>

ALSO:

Leaked Letter: Severe Restrictions on State Owned Enterprises

Even an SOE that exists to fulfil a public function neglected by the market or which is a natural monopoly would nevertheless be forced to act "on the basis of commercial considerations" and would be prohibited from discriminating in favour of local businesses in purchases and sales. Foreign companies would be given standing to sue SOEs in domestic courts for perceived departures from the strictures of the TPP... More>>

ALSO:

Get More From Scoop

 

LATEST HEADLINES

 
 
 
 
 
 
More RSS  RSS News AlertsNews Alerts
 
 
 
Regional
Search Scoop  
 
 
Powered by Vodafone
NZ independent news