New fund to secure future of Taupō Budget Advisory Service

Taupō Budget Advisory Service manager Wendy Gatley says demand for the service is phenomenal this year. Photo / Dan Hutchinson

Taupō Budget Advisory Service is free to the clients who use it, but behind the scenes it’s a constant battle to ensure the service has the funding it needs.

It is hoping the pressure will be eased by their new fund, announced last week with the Geyser Community Foundation.

As a charity, it relies on multiple sources of funding like lotteries and the Ministry of Social Development. Although it has successfully secured this funding so far, it leaves the service vulnerable to changes in governments and funding models.

“We have to go cap in hand every year to raise money, and it’s getting harder,” says manager Wendy Gatley.

However, this doesn’t slow the Taupō Budget Advisory Service’s work with its clients. The service offers financial mentoring, advocacy for debt problems, debt restructuring and financial education. All of these services are free for those who use them.

Whilet its help is always in demand, the rising cost of living has led to a 22 per cent increase in face-to-face appointments for the team since July 1.

“Demand is phenomenal, and it’s only going to get worse.”

After Christmas is always a particularly busy time, Gatley said, because families are likely to overextend their finances to buy presents.

To combat such issues, a significant part of the advisory service’s work is financial education for both adults and school students, and getting to people before they get into trouble.

Those with problems should come in and see an adviser as soon as possible.

“We’re free, we’re non-judgmental; people can come to us with any issues.”

To help them in this work, the Geyser Community Foundation – a local charitable trust – has teamed up with Taupō Budget Advisory Service to form an endowment fund.

The intention is that charitable individuals, groups and businesses will invest in the fund, and help to secure the future of the service and reduce its reliance on external donors.

This in turn will allow the advisory service to focus solely on what it does best – educating the public, and helping people in times of financial need.

The benefit of the endowment fund is that it is intergenerational and long term, Gatley said, which means they can better plan for how to meet demand.

“It becomes self-sustaining.”

She said they were keen to hear from anyone who might be able to help their work through the fund.

“It doesn’t need to be large amounts, everything helps.”

In the meantime, Taupō Budget Advisory Service continues to be available to anyone who is concerned about household budgeting or debt.

Finance is a really big burden for people, Gatley said, but with the right help, it could be overcome.

She says that often, some expertise and a helping hand can make all the difference.

“Our clients come out and say ‘We feel more hopeful, we feel more optimistic’.”