Police staff to begin budgeting course


Police are getting the chance to improve their budgeting skills with a collaborative programme being rolled out to more than 1000 policing staff for the next three years.

The Police Moneywise Course is a collaboration with the Commission for Financial Capability, Police and Families Credit Union in a bid to help staff tackle financial stresses that may be impacting their work.

The Commission ran a pilot budgeting course with The Warehouse employees and found the number of people to have a budget rose from 35 percent to 86 percent.

It also found the number of people spending less than they earned increased from 36 percent to 73 percent.

And now, police want the programme to be implemented to an initial 1400 staff.

The course will have a $1 million investment of Families Credit Union behind it.

The programme was developed and piloted by the Commission in 2014, and has been used by the New Zealand Defence Force also.

The Police Moneywise Course will take nine weeks, with two follow-up one-off refresher workshops.

It will run 70 courses until June 2018.

Retirement Commissioner Diane Maxwell says the programmes can have a massive impact.

"It takes them from a position where they are stressing about money every day, to having a much better relationship with money where they own it, it doesn't own them," she says.

"The benefits have their own momentum, and stretch far beyond finances: car repairs done, holidays saved for, happier families and better night's sleep."

The programme will cover the basics of goal setting, budgeting, saving and dealing with debt as well as investing, KiwiSaver, home loans, insurance and wills.


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