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Better money management can help you feel free. It gives you more choices in life and helps you work towards your goals. It's hard to begin but you don't have to figure it all out yourself. Here, we share information about financial support services. The aim is to build your confidence and help you recognise good support options.
Improving your financial situation can seem hard and scary but it has many benefits.
Good financial support can stop you losing money. It can help you better understand your financial position so that you can make a budget and stress less.
Financial advice may help you:
People often feel overwhelmed and uncertain about money. But everyone can learn to manage money better. With support, you can take control of your finances.
Financial advice can also help you break bad habits.
For example, some people use short-term loans when they need money to meet the costs of daily life. These loans often charge high interest. You might need to borrow more to pay back the first loan.
A financial planner or adviser may help you organise a weekly or monthly budget so you no longer need short-term loans.
Anyone who wants to improve their finances and become more independent may benefit from good financial services and advice. These services can help:
In Australia, women experiencing domestic violence can get financial support. The services include:
Financial advice can either be general or personal.
General advice should work for most people, most of the time. However, you need to think about whether it is right for you.
You can trust the financial advice on the government website Money Smart (external link). It explains how to:
Compare your money management with the ideas on Money Smart. It will help you make progress.
Personal advice is created for you. Usually, it costs money. It takes into account the details of your situation, including:
You may want to get out of debt, gain financial independence from a partner, or be able to make a large purchase like equipment you need that is not funded through NDIS. A good financial adviser can help.
If you can afford to pay for a financial adviser, make sure they have a license. You can find information about how to find and choose a financial adviser on the Money Smart website (external link).
Remember to keep a cool head. If a financial adviser or anyone else promises to make you rich, be sceptical. If something sounds too good to be true, it probably is.
Organisations like the Salvation Army offer free and confidential financial counselling and coaching services (external links). The Salvation Army also provides no-interest loans to people experiencing acute financial stress (external link).
You will get the most benefit if you prepare before seeing a financial advisor. List your goals and gather information about your finances. It will help them understand your situation.
Financial abuse is a form of violence and abuse that involves controlling or exploiting a person's financial resources to maintain power and control over them. It can make you feel vulnerable and dependent.
Find out moreFinancial independence is the freedom that comes when you have enough money to meet your needs and are in charge of spending it. Here, we discuss the barriers that women with disabilities face when it comes to managing their money. We share steps you can take to gain more control over your finances.
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