Vaka Tautua Financial Capability Programme Results in Multi-Home Ownership
Homeowner Luafulufa Lemoe, with Vaka Tautua Financial Literacy Coach, Pelenatete Lam Sam.
Every day Luafulufa Lemoe thanks God she signed up to do the financial literacy programme offered by Vaka Tautua in Auckland. It was 2015. She never dreamed that five years later she and her family would own three homes.
“Our goal, as parents, was to buy a house for our family… and for our family in Samoa…,” says Mrs Lemoe.
“We joined Vaka Tautua’s Financial Literacy programme because we wanted the best for our children.”
Mrs Lemoe said the key lesson from Vaka Tautua’s programme was how to manage the family’s money, which was especially important because at that time she was the only income earner. However, her late husband soon started a lawn-mowing business, which helped with their savings. They bought their first house in 2018, and worked hard to pay off the mortgage. Once this was done, Mrs Lemoe and her husband focused on buying houses for their parents in Samoa, which they also achieved.
“It was hard work… but we are very happy… ,” says Mrs Lemoe.
Vaka Tautua has been delivering financial literacy and capability programmes in the Auckland region since 2015. The programme involves eight workshops on money management, goal setting, asset-buying, health and wellbeing and legal information; and three months’ of mentoring support. The programmes are delivered in English, Samoan, Tongan and Cook Islands Māori; and to cohorts of families.
During 2017 to 2020, 627 Pacific families (2,593 people) had completed one of the three financial literacy and capability programmes Vaka Tautua offers. Of these:
63% of the families (392) were on savings plans to purchase their own home.
64% of the families (403) were on a savings plan to purchase a significant asset that will generate wealth over time. Examples include shares, bonds and land.
Vaka Tautua has also delivered the programme in the Wellington region.
Vaka Tautua is currently developing a second stage programme that provides families with further learning and support, to help accelerate their achievement of their home ownership goals and aspirations.
Vaka Tautua is a national Pacific health and social services provider with a strong regional presence in the greater Auckland, Wellington, and Canterbury regions. It delivers disability, mental health, older peoples, social services, and financial capability services.
For all enquiries, please email: comms@vakatautua.co.nz