By the time people need Marcela Mingotis help their finances are in crisis.
Mingoti is interim chief executive of Nga Tangata Microfinance, a not-for-profit organisation which aims to break the cycle of financial stress.
Nga Tangata offers low-income people who are working with a financial mentor interest-free and fees-free loans to help reduce expensive debt, and get them in a solid financial position.
Even those without a bank account or ID can tap into Nga Tangatas services with the assistance of a budgeting service that provides Total Money Management (TMM).
Total Money Management means exactly that – money that is paid to a client goes into the TMM providers bank account and all payments are made from the TMM account too.
[TMM is] h…Read the full article at: https://www.interest.co.nz/banking/120826/cutting-insolvent-nz-banks-close-accounts-bankrupts