The Australian Government, through Services Australia, is encouraging all citizens, particularly young people, to proactively build their financial literacy and take control of their money management early in life. This initiative provides a comprehensive suite of free, confidential services and resources designed to help with everything from foundational budgeting and saving goals to navigating complex issues like debt, loans, and entitlements like the Centrelink Advance Payment. The support is available across various life stages and circumstances, ensuring Australians have access to the knowledge and professional counselling required to achieve financial resilience.
Key details of the financial support services
- Institutions Involved: Services Australia (including Centrelink and the Financial Information Service – FIS), Moneysmart, the National Debt Helpline, Mob Strong Debt Helpline, and the Australian Financial Security Authority (AFSA).
- Financial Counsellors: The Financial Information Service (FIS) Officers provide free, independent, and confidential information and education to help individuals make informed financial decisions, but they do not provide personal financial advice.
- Centrelink Advance Payment: This is available to individuals receiving an income support payment or Family Tax Benefit. It functions like a short-term loan, where a portion of a future payment is received as a lump sum, which is then paid back by receiving a slightly reduced amount over the following 13 fortnightly payments.
- National Debt Helpline: Free, confidential, and independent debt counselling is available by calling 1800 007 007 (Monday to Friday, 9:30 am to 4:30 pm) or via live chat (Monday to Friday, 9 am to 8 pm).
- First Nations Support: Aboriginal and Torres Strait Islander peoples can access free financial counselling and support through the Mob Strong Debt Helpline on 1800 808 488.
- Help in Your Language: Assistance is available in many languages, with the Translating and Interpreting Service (TIS) line accessible on 131 450 to connect people with financial services.
- Youth Payments: Financial help is available for young people aged 24 or younger who are students, apprentices, or looking for work, primarily through payments like Youth Allowance. Abstudy is also available for eligible Aboriginal or Torres Strait Islander students and apprentices.
- Rural Support: The Department of Agriculture, Fisheries and Forestry’s Rural Financial Counselling Service assists farmers, small rural businesses, fishing enterprises, and forest growers experiencing or at risk of financial hardship.
- New Government Funding: The Australian Government has announced new grants totalling around $150 million a year from 2025–26 for the Financial Wellbeing and Capability (FWC) Activity to support clients across pre-crisis, early intervention, and recovery stages.
Full explanation of the government announcement
Fair dinkum, it’s all about getting your financial ducks in a row. Services Australia understands that managing money can be a stressful experience at any stage of life, especially for those just starting out or facing unexpected challenges. This initiative is a critical step in promoting long-term financial stability across the nation by offering practical tools, education, and direct support. It moves beyond just providing payments and focuses on financial capability—giving you the skills to handle money matters independently. The service covers essential topics such as setting up a workable budget, building savings for future goals, and managing tricky situations like debt, including guidance on understanding loans and credit contracts. For anyone wanting to take control of their finances early, you can see all the details and access the tools to Get a head start and control your finances early right now.
A key element of this support is the Financial Information Service (FIS). FIS officers are trained to give you independent information on a wide range of financial topics—from superannuation and investments to tax time obligations—without giving you personal advice. If you are struggling with a debt situation, free and confidential help is available via the National Debt Helpline, which can connect you with a financial counsellor. These professionals can negotiate with businesses, banks, and service providers (like electricity companies with Hardship Teams) on your behalf, or provide information on schemes like the No Interest Loan Scheme (NILS) to purchase essential household items. The government is committed to ensuring that vulnerability, such as facing bankruptcy or dealing with a legal notice about debt, is met with professional support, not just a payment. This comprehensive, ‘no-worries’ approach ensures there is help for everyone, regardless of their circumstances, helping them become financially resilient and independent. You can find more comprehensive information on these and other government services on sites like More on Services Australia.
How to take a positive step with your money management
Taking the first step towards better financial control is often the hardest, but Services Australia has made the process straightforward:
Step 1: Review Your Current Financial Situation:
- Start by using one of the free online tools, like the Moneysmart calculators, to create an honest budget. This involves tracking all your income and expenses for a period of time to understand exactly where your money is going.
Step 2: Access Specialist Government Resources:
- If you receive a Centrelink payment or the Family Tax Benefit, look into whether an Advance Payment can help manage an immediate, essential expense.
- Use the Payment and Service Finder on the Services Australia website to check your eligibility for various payments, concessions, and concession cards based on your personal circumstances.
Step 3: Seek Professional, Free Assistance:
- Book an appointment with a Financial Information Service (FIS) Officer for free, independent education on topics like superannuation, investments, and tax.
- If you are dealing with unmanageable debt, call the National Debt Helpline on 1800 007 007 to speak with a financial counsellor. They can assist with debt management and connect you to further support services like NILS.
Questions and answers for the community
- What is the Financial Information Service (FIS)? The FIS is a free, independent, and confidential education service from Services Australia that provides information on financial matters, but not personal financial advice.
- Who can use the FIS? The FIS is available to all members of the public, not just those who receive a Centrelink payment.
- What topics can FIS officers help me with? They can assist with information about banking, investments, tax, superannuation, accessing credit, retirement planning, and changes to family circumstances.
- Is there a cost for financial counselling? No, services provided through the National Debt Helpline and other government-funded programs are free, independent, and confidential.
- How does a Centrelink Advance Payment work? It is a lump sum of your payment provided early, which you repay by having a small deduction taken from your next 13 regular payments.
- Is the Centrelink Advance Payment an actual loan? It operates like a short-term loan from your Centrelink payment, but it is not a loan from a commercial lender.
- Can I get help if English is not my first language? Yes, you can call the Translating and Interpreting Service (TIS) line on 131 450 and ask them to connect you to the service you need.
- I’m an Aboriginal or Torres Strait Islander person with debt issues; who should I call? You can contact the Mob Strong Debt Helpline for free First Nations financial counselling on 1800 808 488.
- I’m a young person. How can Services Australia help me financially? If you are 24 or younger and studying, an apprentice, or looking for work, you may be eligible for financial help like Youth Allowance or Abstudy.
- What should I do if I receive a legal notice about a debt? Do not ignore it; you should contact a free financial counsellor immediately or seek free legal advice through the Moneysmart website.
- Can a financial counsellor talk to my bank or energy company for me? Yes, financial counsellors can negotiate on your behalf with business hardship teams to discuss delaying, reducing, or waiving debt repayments.
- What is Moneysmart? Moneysmart is a government website that offers free tools, tips, and guidance to help Australians take control of their money, including budgeting calculators.
- What is the No Interest Loan Scheme (NILS)? NILS provides access to loans for essential goods and services with no interest or fees.
- What is the Financial Wellbeing and Capability (FWC) Activity? This is an Australian Government-funded initiative that supports individuals and families in financial crises through services like financial counselling, education, and help accessing no-interest loans.
- I’m a farmer experiencing financial hardship. Where can I get help? You should contact the Rural Financial Counselling Service, supported by the Department of Agriculture, Fisheries and Forestry.
- Does Services Australia help me manage my myGov account? Yes, they provide online help and guides for myGov and self-service options, including a phone self-service number 136 230 for registration.
- Can financial counsellors provide legal advice? No, financial counsellors are unable to provide legal advice.
