About finances and debt

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Knowing you have life’s expenses under control is a great way to avoid future stress or unnecessary worry.

Making the most of your money can sometimes seem daunting. With so much advice on how to increase or invest your income (and so many ways to spend it!), it’s normal to feel overwhelmed sometimes.

• Try to focus on what’s best for your family rather than trying to consider every financial option out there.
• Ask yourself if you know enough about your entitlements. Could you be getting more?
• If you’re worried about managing the money you have, try developing a basic money plan.
• Decide what your priorities are, and it will be easier to control spending in the different areas of your family life.

If you get into debt

Taking steps to reduce debts will help you avoid stress, and if you have a partner it might help avoid arguments.

If you find you’re not getting on top of things on your own, a financial counsellor may help you negotiate with debtors, explain options for dealing with outstanding bills and work with you to create a manageable budget.

• The Department of Family and Community Services offers free financial counselling services to individuals, families and small business operators who are experiencing financial difficulty due to unemployment, sickness, credit over-commitment and family breakdown. For further information go to the Commonwealth Financial Counselling Program. 
• Centrelink offers free information and education through their Financial Information Service. This service is available and free for everybody, and you do not have to be receiving Centrelink payments. For further information go to the Centrelink website.

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