Stacey was apprehensive about letting someone advise her about her finances because she thought a budget advisor would dictate what she could do with her money. Her first visit to Visionwest Money Mentors changed both her mind and her life.
As a solo mum with four children, I was struggling. The cost-of-living – food, gas, power, and everything else – was going up and pushing me to a point where I didn’t know how I would survive. That’s why I went to WINZ. They suggested I go to a budgeting service. I wasn’t all that keen.
My perception of a budgeting service was that they would tell me how to use my money and what I could spend and what I couldn’t spend. At the same time, I knew I needed help – real help. So, I went along to Visionwest and met Mahesha. That was a really pleasant surprise.
Stacey and Mahesha hit it off straightaway. Stacey says it was because she was so warm and friendly and such an amazing lady. It was also what Stacey calls Mahesha’s non-judgemental approach and that she turned out to be a genius with money.
Mahesha never once said, ‘You shouldn’t be doing this, or you should be doing that.’ She just listened and helped me and guided me. The reality is, I was struggling. Everything was just crazy with my finances, but Mahesha did an amazing job sorting everything out.
Working towards being debt-free
The first thing Mahesha did was to help Stacey see exactly where her money was going each week. That meant Stacey was able to come up with a plan that enabled her to focus her spending on what was most important, including paying off debt.
One thing I never thought I’d be able to do is pay off the debt I was in. I assumed that debt would follow me forever and I’d be forever struggling because of it. Help from Mahesha means that I’m almost debt free! Without Mahesha, I would never have even thought about phoning companies I owed money to and suggesting a repayment plan. But, with her helping me and supporting me, I had the confidence to do that. I contacted the people I owed money to and Mahesha helped me with what to say and it worked. I’ve been working hard to pay off debt ever since and I’m almost there!
In fact, better than that. At the end of each week, I now have a little money left over. That means I can take my children out and do things. It’s amazing! I couldn’t do that before or, if I did, it went on my card and became debt.
Stacey’s three-year plan
Stacey admits that, without financial mentoring help she would still be struggling and probably in even greater debt than she was. She calls it being, ‘stuck in a rut.’ The key for Stacey to get out of that rut was knowing what to do and how to do it. What she’s learned from Money Mentors means Stacey can begin to realise the goals and dreams she has for the future.
I have a three-year plan that Mahesha helped me develop. I’m studying business Level 4 and I’m hoping to open my own business. That means, once my youngest is near school age, I can come off the benefit and work for myself.
To think I was once in two minds about seeing a budgeter because I thought they would stop me spending. The reality is, I’ve ended up with more money than I had before. If it wasn’t for Mahesha, I’d still be broke and doing the same thing I was doing before … which was nothing … spending my money willy-nilly and achieving nothing.
Stacey and Mahesha
Stacey marvels at what Mahesha has taught her. She admits that, in one respect, it is so simple that sometimes she can’t believe that she didn’t think of these financial tips herself. She goes onto comment that, like many her age, she wasn’t taught money management in school and notes what a positive thing it would be if schools could teach budgeting to kids.
Stacey has now completed her time of financial mentoring with Money Mentors and has come away with the tools she needs for maintaining good finances and with a friend.
By the time I finished my budgeting sessions with Mahesha – and that was months and months of work – I had my money on track, and we had built a friendship and a bond. She’s just amazing.
I’ve already told a few friends to come down and talk to Mahesha. She doesn’t tell you what to do with your money, she guides you and helps you and supports you to work through your money situation. When I meet friends who are struggling with their money, I tell them to come down and meet the people at Visionwest – they are a lovely bunch of people.
To read another inspiring Money Mentors story, CLICK HERE.
In the last financial year, Visionwest’s Money Mentors Team delivered 1,900 financial mentoring sessions to 443 whānau and cleared $1,000,000 of whānau debt. To find out more about getting your personal finances on track, phone 09 818 0714, or email budgeting@visionwest.org.nz.
**We understand that it is a great privilege when someone generously agrees to share their story. This blog and other material is shared with Stacey’s permission and we thank her for her generosity.