Financial Counselling

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The National Anti-Scam Centre’s collaborative efforts across government, law enforcement, consumer organisations and industry have boosted the community’s fight against financial crime, as the latest Targeting Scams report reveals a 13.1 per cent decline in reported losses to $2.74 billion in 2023. The report compiles data reported to Scamwatch, ReportCyber, the Australian Financial Crimes Exchange (AFCX), IDCARE…

Read More Scam Losses Fall But A Long Road Ahead

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More Australians will now have access to support from financial counsellors with the launch of the Financial Counselling Industry Fund (FCIF). The FCIF is the result of a collaboration between the financial counselling sector and a number of industries and companies – Australian Banking Association member banks, Australian Energy Council, Energy Networks Australia, Insurance Council…

Read More Financial Counselling Industry Fund Launches

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This week Consumers International launched a global campaign for transparent digital finance. Poor transparency has long been a problem in financial services, but now more than ever there are billions of consumers (1) using banks and other financial services and (2) using or connecting to these financial services digitally. Over mounting concern on both digital…

Read More Global Campaign for Transparent Digital Finance Launches

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Australians struggling with debt and cost-of-living pressures are turning to free and independent debt helplines in their thousands. Calls and chats to the National Debt Helpline (NDH) and the Small Business Debt Helpline (SBDH) have soared over the past 12 months. Both services are coordinated by Financial Counselling Australia. “In February NDH dealt with 14,871 enquiries. That’s a 17%…

Read More Cost of Living Crisis sees more calls to Free Debt Helplines

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ICAN (Indigenous Consumer Assistance Network) is thrilled to announce the launch of its innovative Thrive Matched Savings program, a pioneering initiative designed to empower individuals on their journey towards financial independence. As an organisation committed to fostering financial wellbeing, ICAN introduces this program to not only support savings efforts but also to double the impact…

Read More ICAN Officially Launches New Thrive Matched Savings Program

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First Nations and other consumer advocates have welcomed the extension of ASIC’s interim Stop Order on Coral Coast Distributors (Cairns) Ptd Ltd trading as Urban Rampage (Urban Rampage) retail stores, where customers enter agreements to pay for goods on credit through Centrepay deductions. The original stop order was imposed because ASIC received complaints about Urban…

Read More Continued Ban of Business Centrepay Use in Remote Australia Welcomed as Advocates Call for Broader Centrepay Reform

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In 2020, the Indigenous Consumer Assistance Network (ICAN) set out to widen the scope of its financial counselling services by looking at how it could deliver a holistic financial counselling framework that could better meet the financial and well-being needs of its service users. Over the past three years, ICAN has been developing a practice framework for its financial counselling services that embeds elements of the Sustainable Livelihoods Framework. Today ICAN has released the report: From surviving to thriving: Embedding a well-being framework into financial counselling practice that shares the learnings from this significant organisational undertaking.

Read More ‘From Surviving to Thriving’ ICAN’s Report on Holistic Financial Counselling

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“No one should come off BetStop and be able to gamble without a sensible deposit limit in place. Right now, a person can revoke the self-exclusion and the following day they can bet $100,000 which is clearly absurd,” Ms Levin said.

The new BetStop data shows that 1400 people have revoked their self-exclusion, and this group are most at risk.

Read More BetStop a Good Start but Expansion is Needed

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New research released by ASIC’s Moneysmart has shed light on the financial concerns of Australian Gen Z women, revealing that they are more likely than Gen Z men to feel stressed and overwhelmed by finances and money.
“These findings demonstrate the importance of empowering young women to move past girl math and take control of their finances. Countless studies have shown financially literate people are better at budgeting and saving, managing mortgages and debt, planning for retirement, and growing their wealth. These behaviours aren’t inherent – they can be learnt at any age. That’s why we need to change the equation on girl math in 2024,”

Read More MoneySmart Data Reveals Gender Disparity in Young Adult’s Financial Stress