Budgeting for a brighter future together

A couple are celebrating taking their first steps in laying down plans for a stronger future together after working with Monte Cecilia’s wraparound support team.

Sione* and Meilani* have set themselves the goal of creating a space for their whole family to grow and thrive together.

The team at Monte Cecilia has worked with them to access Kainga Ora programmes that could help them achieve this goal and develop a budget that involves working together with their adult children to save up enough for a home deposit.

The budget includes signing everyone up to Kiwisaver to gain employer and government contributions, as well as accessing the $10,000 1st Home Grant and applying for a Kainga Ora first home loan. With their adult children’s help they expect to be ready in five years.

“I told them about the concept of paying yourself first, putting your dedicated savings aside first before paying for other things, running through scenarios for their savings and Kiwisaver contributions which show that buying their own home is very achievable,” the Monte Cecilia team member working with them said.

“I also advised them to have family meetings with their contributing adult children to make sure they are all on the same page and to get the advice of a lawyer around multi-ownership.

*Not their real names