A FAMILY budget is crucial for a household but typically does not go to plan.
Often it is the stigma or embarrassment of asking for help that hinders the application of a workable budget which leads to financial challenges which may have been avoided by seeking advice.
Regional Housing is a not for profit organisation that manages emergency, transitional and long term social housing, as well as a range of complimentary support programs, throughout Central and Northern Queensland.
They have an office in Hervey Bay and manage over 200 properties across the Fraser Coast.
Part of the services they provide is financial counselling that helps eligible people address their financial problems through the provision of information, advocacy and/or negotiation on behalf of the customer.
They also aim to help people build longer term budgeting capabilities, better manage their money and make informed financial decisions.
Regional Housing recognises the cost of living is having a major impact on people within the community and is continuing to rise and spread. People who may not ever have expected to encounter financial hardship are experiencing this crisis and are accessing services for support and assistance.
They have identified top three financial pressure trends within the region we are seeing are; Household bills including groceries, equal second is affordability of rent and or people being in rent arrears as well as Buy Now Pay Later products. They have example of people are paying 70% of their income to rent in the private market, amidst a housing crisis people feel there isn’t long term relief in sight.
“As the cost of living increases people are turning more to the unregulated Buy Now Pay Later products to pay for basic living essentials, this doesn’t take long to become unmanageable for people and contributes to negatively affecting their financial wellbeing”, says a spokesperson for Regional Housing.
“Financial crisis and hardship is not a stand-alone issue, it has far reaching effects onto other areas of people’s lives including their physical and mental health, general wellbeing and relationships.”
As Financial Counsellors, they can help people who are experiencing financial difficulty. The organisation can provide a safe confidential space to listen, clarify people’s financial situation, provide information, options, and advocate for people with creditors where appropriate. People are able to make informed decisions about their finances.
“We have seen a surge in demand for our Financial Counselling service with an increase of 83.5% of referrals received in February compared to December for the Fraser Coast and Wide Bay region”, says the spokesperson.
To book an appointment with a Financial Counsellor, you can contact them on 1300 642 123, or email cfc@regionalhousing.org.au or visit their website www.regionalhousing.org.au
