State expands financial counselling services

VICTORIANS facing mortgage and rental stress will have greater access to financial counselling, with the state government allocating $15 million over three years to expand support services.

Consumer Affairs Minister Nick Staikos announced the funding at Meli Community in Geelong, where 16 organisations will receive grants to boost financial counselling services across the state.

The funding will increase the number of frontline financial counsellors to 37, helping more Victorians negotiate payment plans and manage financial hardship.

“As Victorian families continue to face cost of living pressures our financial counselling services are there to help people to get their financial situation back on track,” Mr Staikos said.

“We’re investing in our financial counselling services and workforce so organisations can offer free help to thousands more Victorians.”

The expanded services will provide targeted support, including financial counselling in health settings, First Nations communities, and assistance for primary producers and small businesses in Western and Northern Victoria.

Financial Counselling Victoria, the sector’s peak body, will receive an additional $700,000 to strengthen professional development and advocacy efforts.

The Consumer Action Law Centre will also receive funding to provide specialist support and training for frontline workers.

The Financial Counselling Program, run through Consumer Affairs Victoria, assisted more than 23,000 people in 2023-24, including 4,100 affected by family violence.

The Victorian government says it has spent more than $65 million in financial counselling and support services over the past four years.

Geelong MP Christine Couzens said the funding would provide much-needed relief for residents struggling with financial stress.

“This funding will have real benefits to those doing it tough in Geelong – it will give more people professional financial support when they need it close to home.”

Victorians can get access to free financial counselling by heading to the National Debt Helpline website at ndh.org.au or phoning 1800 007 007.