How to get financial help: paying off debt & financial counsellors
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What is the role of a financial counsellor in Australia?
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Thanks for having me, Kate. It is wonderful to have you here as a financial counsellor. One of those resources we mention all the time on the podcast, but we've only actually spoken to one on the show in the last three or so years. So it's fantastic to have you on today. I'm very excited to be here. I can't wait. Now, you've been a financial counsellor for a few years now, and I know you're really, really passionate about your job, which is amazing. I was wondering if you could talk a little bit about what a financial counsellor actually does in Australia, because we mentioned it a bit, but I think people don't really know the ins and outs and when they can actually get help. And maybe a little bit about what you help clients with.
Awesome. So first of all, I will just acknowledge the traditional owners. So, um, the land that I'm recording on is the land that I live and work on, um, the beautiful Wadjuk Noongar country. Um, I live right next to the Swan river, which is super significant to the Noongar people as they believe that the Wagal, the rainbow serpent from the dream time meandered over the land and created the river. Um, and I was born on Gadigal land.
What are the common reasons people end up in debt?
So pay my respects to Gadigal mob taking care of country over there as well. You know, we live on land that always was and always will be Aboriginal land. So financial counsellors, we are experts in a money crisis. That's pretty much it in a sentence. It's a free community-based service and it's non-judgmental. So we're not here to lecture you or criticise you. We're here to say, look, I'm really sorry that this has happened to you and let's see how we can work together to help you fix it. We talk about what's happened to you, what your options are, and then you decide what you'd like to do. And we support you in doing that. It's such an important resource because we often feel a lot of shame around money and the decisions we make.
And it can feel very like we're going to be judged if we talk to our bank or our friends or family about the situation we're in. So it's fantastic to know there's resources that are going to just treat you equally, take everything you say and just give you some solutions. And then, as you said, pick something that works for you. Now, something I really wanted to touch on before we jumped into more about different types of debts and some of your best strategies for getting ourselves out of them are the reasons we end up in debt in the first place. And I think it's super important that we have these conversations without any judgment or shame attached because everyone's story is different.
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Chapters
8 chapters
1
What is the role of a financial counsellor in Australia?
0:00–2:53
2
What are the common reasons people end up in debt?
2:53–5:59
3
How can financial counsellors help with managing debt?
5:59–9:08
4
What strategies can be used to get out of different types of debt?
9:08–11:08
5
How do hardship programs work for debt relief?
11:08–14:54
6
What are the options for dealing with buy now, pay later schemes?
14:54–18:01
7
How should one approach personal loans from friends and family?
18:01–21:34
8
Where can someone find financial help if they're struggling?
21:34–51:40
Speakers
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