What is the difference between Financial Counselling and Financial Capability?
If you are finding it hard to meet everyday living expenses or difficult to meet debts, a Financial Capability or Financial counselling session is a great place to start.
Everyone can access these services, and each is entirely confidential as well as judgement free. But which one best suits you?
Financial Counsellors: provide a detailed assessment of a person’s situation. This helps them offer financial advice on how to handle debt related issues. Financial Counsellors work with you to achieve your goals and help you make better financial decisions. Their service includes education around your rights and obligations to creditors in the future.
Financial Capability: This service connects you with Case Managers who partner with you to achieve financial literacy. They support education around understanding your income, bank accounts and budgets. They look at each situation as a whole, helping you access internal and external services.
A Case Manager will mostly work to provide valuable information to help you make better financial choices. They do not offer financial advice.
What will the session look like?
No session will look the same as they are tailored to individual needs. Each will listen in more detail to your current situation and help put together a plan, with actions, for your future.
What should I bring with me?
As much information as possible concerning all your debts.
All paperwork from any of the matters you wish to discuss.
An estimate of income (and partner’s income if sharing expenses).
Copies of bank statements.
Knowledge of what you have spent your most recent pay on (this is helpful but not essential).