What is financial counselling?

Financial counselling is a free and confidential service that you can use to help manage your money situation, plan out your debts and get back on track.

Sitting down and doing a full assessment of your financial situation can help you understand the full picture of where you stand; from debt and outgoings to income and assets.

Working with a financial counsellor is a great way to seek support and assistance for negotiating with third parties, such as utility and credit providers, and financial counsellors will help you understand your rights and obligations to make navigating these difficult situations easier.

In addition to that, a financial counsellor can help you weigh up the potential risks and advantages of entering into a debt agreement or  bankruptcy to ensure that you are making the right choice for your situation and that the details are clear and accessible.

How are financial counselors qualified and how do they help me?

To become a financial counselor you must have studied a Diploma in Financial counselling for 1 year and then worked in professional placement to complete 230 approx hours of supervised work experience. Then you will also be registered to the National Financial Counselling registry and will be permitted to work.

When seeking a Financial Counselor for yourself, it is extremely important to check that they have the appropriate credentials. Financial counsellors should not be charging you any fees and their services are entirely confidential.

Where can I find a financial counselor?

There are financial counselors in every state. The best way to find them is by contacting your local council. You can also visit the Victorian Government Money Smart website here. Or reach The National Debt helpline at ndh.org.au.