Queensland Senator, Amanda Stoker, has urged community providers of financial crisis services and financial education programs to apply for funding under the Federal Government’s Financial Wellbeing and Capability Activity Grants round.
Senator Stoker said the Coalition Government is providing $328 million in grants for community organisations to administer financial crisis assistance and financial education services.
“These grants will help organisations provide short term, crisis help for the most vulnerable members of our community,” Sen. Stoker said.
“Importantly, it will also improve access to financial education and advice for people on low incomes to help them to make informed long-term financial decisions to deliver a better life for themselves and their family.”
Trish Symons, a financial planner who often delivers “Money School” financial literacy classes as a free community service to residents of Brisbane’s bayside, said community education services play a vital role in helping low income earners cope with financial issues.
“I have met many people on low incomes who are looking for advice on matters like superannuation and insurance but who are confused by the information they get when they phone company call centres,” she said.
“Those going through property settlements, aged care planning, estate planning or even planning their retirement are not always able to afford mainstream financial planners and rely on low cost community services.
“The Financial Wellbeing and Capability Activity Grants round will ensure that low fee community financial education providers continue to help those who need it.”
Senator Stoker says about 26,000 people benefited from financial counselling helpline services last year and even more were assisted with community education programs. She said that it was important that members of the community were empowered to take control of their financial future with solid financial literacy skills.
From a pool of $328 million, the Liberal National Government will provide:
- up to $200 million for Emergency Relief to support community organisations help individuals and families with immediate basic needs in times of crisis;
- $80 million for Food Relief, Commonwealth Financial Counselling and Financial Capability and Financial Counselling Helpline services;
- $48 million for Financial Counselling for Problem Gambling, Money Support Hubs and Financial Resilience.
“Because of our stronger economy and by keeping spending under control, can the Government guarantee the essential services that Australians rely on,” Sen. Stoker said.
Applications for the grants close on 22 August 2018. For information go to GrantConnect.