Money Sweetspot

Look at these beaming faces! 💚 Team Money Sweetspot loved sharing morning tea with Vijay Farley-Naiker and Olive Stanley from Ngā Tāngata Microfinance yesterday. We shared stories of whānau working hard on their finances, and the great work that the financial mentor community do to support them. We have a shared commitment to financial well-being and education and talked about how we can continue to build on our relationship to create more streamlined and accessible support to whānau when they need it. There are people at the heart of the story. Collaboration is the only way. 🫶🏼 #watchthisspot

I know you missed the Money Sweetspot countdown! We've been able to help 13 families to reset just over $200,000 of higher cost debt this month so far. Here are some more insights you might not know..... 💚 All of the people who apply share their story of debt and their motivation for the future with us. This is a key part of our decisioning process to make sure we're the right fit for them (and the other way around!) 💚 The motivation becomes their 'why' in their financial reset journey, which is the first thing they see when they login to look at their loan or to earn their Sweetspot Points. 💚 The most common motivations right now are reducing repayments to make life simpler, create capacity to save, and better housing pathways. 💚 The most successful and motivated Team Spotty customers are those focused on goals related to better housing 🏡 PS If you're an existing customer you get $50 if we help someone you refer. BOOM!

Hot off the press….. This is the first time I’ve shared the shifts in focus and opportunity. I alluded to Partnerships being crucial in my post last night. This helps put light on that. It also has some tips to my fellow business owners and entrepreneurs weaved in! 🫶🏼 Most importantly I talk about how sharing our challenges is crucial for a thriving eco-system of innovation, business, and impact. I’d love to know what you think. Thanks to Gill South at Stuff for the great interview this week about business, humans, storytelling, and Money Sweetspot. https://lnkd.in/ghTFSXvA

I asked for help last week. And I'm SO happy I did. Here's what a bit of help looks like: 💚 Nicola Taylor gave me sound support and sent wonderful emails to her community explaining the work that we do and offered her wonderful space for our team and wellbeing events with Anna Paterson 💚 Tomas van Ammers arranged for us to be LIVE on the newest financial wellbeing app Otto https://www.getotto.nz/ 💚 Saara Tawha provided coaching, inspiration, and connection with the lovely Anna Guenther about a potential campaign for Money Sweetspot to reach more people 💚 Sophie McLernon confirmed we have BOTH of our Board observers coming to support our mahi through OnBoard NZ. Announcements on this shortly but I am fizzing! 💚 Never wavering support from our Creative HQ Fintech cohort, with special shout out to Carolyn Röhm and Cam at Goldie ✨ But now to the update on our goal to provide 30 more families with a financial reset by the end of March. We're at 5 down, 25 to go! It doesn't sound like many but a financial reset with us could save those families collectively over $200,000 in interest (and that's without looking at fees or our rewards)! Come on team, we're got 14 days to go...... debt isn't talked about often enough but most of us have it. Do us a solid and share the page with your connections and communities- they may thank you (silently) for it! https://lnkd.in/gfQKfTKf

Kiwi mates... This may help you or... Please share as you probably have no idea how this may help someone you know too. My friend Sasha runs this cool social enterprise lending company helping people out of personal debt whilst also rewarding them for learning about money. Times are tough for lots of families out there and debt isn’t something we usually talk about at the kitchen table (but perhaps we should as it has a massive impact on mental health, well-being, and stress!). She’s got heaps of capacity (about $8m!) to help people reset their higher interest debt (stuff like a Gem Visa,Q card, personal loans). And because they are impact rather than profit driven the interest rate can be heaps lower than the existing debt. Their average interest rate is 16% (compared to GEM, Q and lenders at closer to 30%!) They can’t compete with the big boys in town around getting their word out there- eventhough it’s saving Kiwis heaps in repayments. I’ve said I’d share with my friends, and in turn perhaps do more than one mate a solid. She’s still a small social enterprise with a big heart and wants to make sure that people who want to get out of debt know about how they can help. Here’s an independent view of them https://lnkd.in/gQu9PiyE and you can check out their website here: https://lnkd.in/gCqtNrmG to see whether it’s something that could help you. If you apply include GOAT in the referral box and if you get a financial reset I’ll get $50 that I will ask Sasha and team to put towards your debt. I will never know 👍