FCAWA Media release

People in hardship unaware of financial counselling benefits

People experiencing financial hardship are often unaware of financial counselling and the benefits the service can provide.

Financial Counsellors’ Association of Western Australia (FCAWA), a not-for-profit peak body that represents the financial counselling sector in WA, has noticed a lack of awareness and understanding about financial counselling from people using the service for the first time.

Melanie Every, Executive Officer at FCAWA, says financial counselling agencies are reporting an increase in the number of people seeking assistance, including people from the middle-income bracket.

“Everyone is being impacted by rising interest rates and inflation, with many turning to fast credit options to ease the pressure. People can no longer stretch their income as far and are having to make difficult choices between buying groceries and medication, renewing insurances and paying their utility bills,” Melanie said.

“People, particularly middle-income earners, who are seeking help for the first time are often unaware of the free support available or have avoided seeing a financial counsellor for fear of being stigmatised.”

Financial counsellors can help people manage their debts, including mortgages, personal loans, utility debts, and credit cards. Support is also available for small business owners. 

“There is no shame in seeking help, financial counselling is for everyone and can be accessed all over WA,” Melanie said.

“Financial counsellors walk alongside their clients to help them understand their options and rights, and can advocate with creditors on their behalf.

“It’s never too late to see a financial counsellor, however, acting early may increase your options and reduce negative impacts financial stress can have on your mental and physical health.”

People in need can find a financial counsellor near them on the FCAWA website, fcawa.org, or get over-the-phone advice by calling the National Debt Helpline on 1800 007 007.