FCAWA was pleased to contribute to the joint 2026-27 Federal Budget Submission from financial counselling peak bodies across Australia.
Entitled ‘Growing Financial Counselling in Australia: An Investment in Economic Productivity,’ the submission calls for transformational national investment to address Australia’s structural and deepening cost‑of‑living crisis.
No matter where they are located in Australia, members of every peak body are assisting clients facing rising housing and utilities costs, food prices and debt. There is unprecedented pressure on households, and demand for financial counselling is at record levels nationwide.
Despite the return on investment evidence generated through a significant project undertaken by FCVic, the sector remains chronically underfunded and unable to meet the growing need for its services. Major investment is needed to allow for Financial Counsellors keep up with current and future demand.Â
The submission draws on economic and workforce data and outlines a 10‑year plan to quadruple investment in financial counselling, growing the national workforce by 300 per cent.
With sustained funding, a workforce of around 4,500 financial counsellors by 2035 could meet unmet need and build long‑term financial resilience across communities. The submission emphasises the importance of strong generalist frontline services embedded in local communities, alongside specialist supports including family violence, gambling harm, disaster recovery and small business financial counselling.Â
FCAWA is proud to have contributed to this submission, which was led by Financial Counselling Victoria. Other agencies involved:
- Financial Counselling Queensland (FCQ)
- Financial Counselling Tasmania (FCAT)
- Financial Counsellors’ Association of NSW (FCAN)
- South Australian Financial Counsellors Association (SAFCA) (including Northern Territory)