Continuation of Financial Management Support Services to Support Welfare Payment Reforms in Western Australia 

Key Elements

The Government will provide $2.5 million in 2009-10 to continue practical and essential financial management support services implemented in 2008-09 to support the Child Protection trial in Western Australia.

This funding will allow the continuation of the money management education and support services established in 2008-09 in Broome, Derby, Fitzroy Crossing and Halls Creek with outreach to Balgo and the financial counselling services located in Derby, Wyndham and Cannington.

Financial management support services help improve client outcomes through budgeting, money management education and financial crisis support. These also increase the capacity of service providers to link people with relevant services to reduce financial stress. These services aim to help Australians deal with financial crises and build capacity and resilience to be able to better use their money for the wellbeing of their children.

Background

In recognition of the important role that financial management support services play in supporting welfare payment reform, the government funded a range of new and expanded services in 2008-09 to support people before, during and following periods on income management.

People participating in income management are given priority to financial management support services which are free, voluntary, confidential.

Services are delivered by financial counsellors in urban and regional locations. Money management services are provided in remote locations that have a high Indigenous population, which are supported by a small number of financial counsellors who help with complex issues.

Financial counselling and money management information and education are funded under the Commonwealth Government’s Financial Management Program (FMP).

The FMP helps vulnerable people across a range of income and financial literacy levels to manage their money, overcome financial adversity, build financial resilience, participate in the social and economic lives of their communities and plan for the medium to long term.

Implementation

Funding to continue services established in 2008-09 will be available from 1 July 2009.

Financial management support services are delivered by non-government organisations.

Total Government Funding

$2.5 million in 2009-10.

Content Updated: 1 June 2012