Frequently Asked Questions

Is your service free?

MoneySmart is a community-based organisation that’s funded by the government to provide free advice to people in our area. Our money mentors have expertise in budgeting and negotiation. There is no charge for their services.

Is the service confidential?

Yes. We understand that your income and any debts are personal matters. We will not share your information with anyone unless you agree to it.

How can I earn more money?

Think of the skills you could use to earn extra money. Maybe house cleaning, dog walking, gardening or car cleaning could provide some extra income.

Why is it important to have a nest egg?

A nest egg or emergency fund can provide breathing space if you get sick or lose your job. It’s also very handy if your car breaks down or you have another unplanned expense.

How can I trim my costs even further?

Here are some ideas:

• Sell items you no longer need on TradeMe.
• Ask your phone provider to switch to a less expensive plan.
• Buy cheaper items at the supermarket and look out for seasonal produce and specials.
• Turn off appliances that are not in use.
• Plant a vegetable garden (ask your landlord).

Your money mentor can brainstorm more money-saving ideas with you.

My income goes up and down. How can I stick to a budget?

Plan carefully. Working with your MoneySmart adviser, figure out your basic weekly and monthly expenses such as rent, petrol, food, electricity and phone, and then prioritise them. When you get paid, pay the top priority first. Set aside money each time you are paid so you have a buffer.