We often get wry looks when we say we want to lose customers and don't want to be the biggest. Sasha discusses with Anna discuss why its simple really and that she wishes more people took the approach of Money Sweetspot.
There's no doubt many people are feeling the pinch right now, but what if you're not quite scraping the barrel and maybe just need some guidance on how to stretch the pennies? Money Sweetspot calls itself a new social enterprise, consolidating debt and helping provide financial education.
She talks through why we focus on a financial reset, how engaging in financial education can be rewarding, and that individual commitment creates an opportunity to donate to causes our customers care about.
I'm not against buy now, pay later if people can buy now and pay later. But what we see is that more and more people are adding to those individual purchases. And what people tell us is that it's really hard to keep on top of it because you might buy something on a Monday and then on a Wednesday, and those payments can be all coming out at a different time.
Buy Now Pay later isn't the devil, but the devil can be in the detail- or the juggle- of many payments at many times for many different things. That's why we focus on a financial reset debt consolidation loan- reduce the juggle, get out of debt, and get on with life!
Our average at the moment is 13.5 percent, and the customers that are coming to us are paying closer to 30 percent. We're able to do that because our investors are charities, so we don't have a profit motive. We've said that we just want to be around for as long as New Zealanders need us. And because we only do one thing, which is just the financial reset, just the debt consolidation loan, that means that we can be really focused about how to help people.
We've helped 132 customers with $3.2m in debt, saving them an estiamted $1.2m in interest over the life of the loan.
We're hoping to help another 3,000 between now and March next year. We'd love you to join us!
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