The Albanese Labor Government is strengthening support for Australians experiencing financial hardship by boosting funding for financial counselling services, including targeted support for communities affected by natural disasters.
The $2.93 million funding package includes $1.85 million of additional funding across all Commonwealth funded National Debt Helpline providers, who provide free financial counselling over the phone or via online chat support, including advice and referrals for Australians experiencing financial difficulties or debt.
A further $435,000 will be provided to key financial counselling service providers supporting flood-affected communities in Lismore and Central West New South Wales.
It is part of the additional $138 million provided by the Government in the Budget to the Financial Wellbeing and Capability (FWC) Activity including $7.8 million in the 2023-24 financial year to strengthen support for Australians experiencing financial hardship.
Minister for Social Services Amanda Rishworth said this funding would give providers the resources they need to meet the high levels of demand across Australia, particularly as cost-of-living challenges and the lasting impacts of natural disasters continue.
"Already in 2024, the National Debt Helpline has received over 50,000 calls seeking advice and support. The National Debt Helpline is often someone's first point of contact to seek support and we want to ensure timely support for people in need," Minister Rishworth said.
"Crucially, we are also giving a much-needed boost to local providers in flood-affected communities, recognising the continuing financial challenges that people in these communities are experiencing as they work through the difficult process of rebuilding and recovery."
The funding package includes an additional $645,000 for Financial Counselling Australia to increase awareness of the National Dept Helpline and continue their work coordinating the financial counselling services sector and ensure targeted supports are where they are needed most in the wake of natural disasters.
"Increasing promotion of the Helpline's services will strengthen early intervention support for people experiencing financial stress," Minister Rishworth said.
"We are ensuring that all Australians doing it tough know what support is available to them and can access it when and where they need it."
Financial Counselling Australia co-chief executives Domenique Meyrick and Peter Gartlan said the work of financial counsellors was vital and welcomed the funding boost.
"There are people out there who are struggling and not aware that free and independent financial counselling exists. This funding will help us to let people know that support is available to them through the National Debt Helpline. It will also help the National Debt Helpline to better meet existing and future demand," Dr Meyrick said.
"Recognition of the work of financial counsellors supporting people impacted by disasters in the Northern Rivers and Central West of New South Wales is very welcome. Disaster work has a long tail and this funding underscores the vital role our sector plays. We're very grateful for funding to enable us to provide training, coordination and data to those parts of the country recovering from, and preparing for disasters," Mr Gartlan said.
The additional funding is on top of the more than $120 million already provided annually for FWC services, including emergency relief and food relief, financial counselling and support to strengthen individuals' financial resilience.
People experiencing financial hardship can access free financial counselling services through the National Debt Helpline on 1800 007 007 or at ndh.org.au, where they can also chat online with a financial counsellor via the website.
