1. FINANCIAL EMPOWERMENT PANEL Budgeting
Sally Massey Wiebe, Financial Counsellor
Community Financial Counselling Services (CFCS) Winnipeg, Mb
NOVEMBER 2, 2017

2. Key Client Issues & Challenges:
Financial Empowerment Panel:
Budgeting in the context of Financial Counselling
Key Client Issues & Challenges:
Client Readiness
Clients at varying places on the ‘readiness to change’ continuum
Internal or External Locus of Control
Client Capacity
Overwhelming and stressful issues, often multifaceted concerns
A ‘Scarcity mindset’* that contributes to less capacity to tackle financial matters
Differing levels of knowledge, skills, confidence re: making financial decisions
Level of self-efficacy
Balancing Goals & Priorities with Reality (Always a client led, client driven process)
However, presenting issues and goals/priorities do not always mesh easily with the current lived realities
Too little, too late – clients who put off dealing with their issues until the 11th hour frequently have limited options to address crisis
* Scarcity, (2013), Mullainathan, Sendhil & Shafir, Eldar

3. Effective Solutions: Financial Empowerment Panel:
Budgeting in the context of Financial Counselling
Effective Solutions:
Approaches that are ‘beyond the math’
Recognizing the impact of ingrained habits and attitudes
Using a behavioural science lens to view financial practices
Pacing the process of assessing and addressing financial circumstances, pursuing goals and affecting changes to financial practices to match the client’s current capacity, knowledge, skill and confidence levels
Always Solution-Focused,
Client centered
Identifying and Building on Strengths
Asset-building approach to Sustainable Livelihoods

4. Moving Forward – Emphasizing Effective Practices:
Financial Empowerment Panel:
Budgeting in the context of Financial Counselling
Moving Forward – Emphasizing Effective Practices:
Counsellors Trained Beyond the ‘Math of the Matter’
Professional development experiences including:
Money Habitudes
‘Scarcity’*
Behavioural Science
Sustainable Livelihoods
Understanding Addictions
What can be done ‘in the moment’ to reduce barriers to achieving next steps?
Tackle next steps ‘in the moment’ while client is in the office
Reduce the emphasis on memory and/or willpower
Collaborate & Network
For appropriate dual service delivery
For appropriate referrals to other services
* Scarcity, (2013), Mullainathan, Sendhil & Shafir, Eldar