Welcome
The Financial Counselling Foundation is a charitable trust, set up to accept donations from industry and the public to advance financial counselling services. The Foundation will provide funding for direct financial counselling casework or to build the capacity of the sector.
Why is the foundation needed?
Financial counsellors work in not for profit community organisations.
They provide free and independent advice and support to people with money and debt problems.
The demand for financial counsellors outstrips supply. Face to face financial counselling agencies often have long waiting lists and calls to the National Debt Helpline, the phone financial counselling service are increasing year on year.
The purpose of the Foundation is to increase access to financial counselling by providing much needed additional funding for the sector. The Foundation seeks to keep administrative expenses to a minimum; around 1.3% of total revenue is spent on administrative costs each year.
Social Impact Evaluation of Financial Counselling in Prisons
This independent evaluation, commissioned by the Financial Counselling Foundation and conducted by ARTD Consultants, assessed grants that funded financial counsellors working across 21 correctional facilities, community corrections sites and rehabilitation centres nationally.
The evaluation found that unresolved debt and financial stress are drivers of re-offending but the support provided by financial counselling assisted to stabilise and reduce debt, leading to greater stability post release.
It found that the program outcomes included:
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Improved understanding of financial situation
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Improved financial circumstances
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Reduced stress
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Improved reintegration readiness
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Supporting positive relationships with family members
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Reduction of criminogenic risks
The evaluation made a number of recommendations:
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Promote financial counselling as a criminogenic program (addresses criminal behaviour)
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Scale the delivery of this service type. The evaluation recommends funding additional financial counselling services in Australian prisons.
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Deliver financial counselling with case management / re-integration services
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Offer financial counselling services as part of post-release support.
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Fund systems change advocacy to improve access to financial services for prisoners (prevent companies from excluding those with a record).
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Undertake further research and evaluation work to provide further evidence of the positive impact of this service type
As the Foundation is winding up alternative funding sources are needed to enable these valuable services to continue beyond 2026.
Social Impact Evaluation of the Financial Counselling in Prisons Program
Media Release – Financial counselling in prisons evaluation
Fact sheet – Financial counselling for people in prison
Around 1100 financial counsellors provide face-to-face, telephone and chat support to people around Australia each year.
The National Debt Helpline received 169,514 calls and chats in 2024, and over 523,251 visits to the National Debt Helpline website.
Financial counsellors work with people who are in debt or cannot meet their ongoing expenses. They help people to understand and prioritise debt, access grants or concessions and negotiate with creditors
Did you know? …
13.3%
After taking account of housing costs, 13.3% of Australians are living below the poverty line.
Australia has one of the highest levels of household debt in the world.
15%
15% of Australian households are experiencing financial stress.
Many people are living precariously close to financial hardship. The loss of a job, a relationship breakdown, a habit that becomes an addiction, a problem with mental health—these things can tip people into financial crisis.