The Albanese Labor Government is ensuring vulnerable Australians experiencing financial stress and hardship have the support they need to manage their finances.
No Australian should be held back because they are struggling.
To assist, we're boosting and expanding the National Debt Helpline - along with funding better coordination, training and support for staff - by $44.1 million over the next five years.
More than 200,000 people will be supported to navigate financial crises and build their financial capability, wellbeing and resilience as a result of the funding.
Minister for Social Services Amanda Rishworth, said the investment reflects the Government's commitment to supporting Australians most at risk of financial and social disadvantage.
"Our Government wants to ensure vulnerable Australians experiencing financial stress have access to the support they need and we are addressing national demand for financial wellbeing services," Minister Rishworth said.
"This funding is vital for those struggling to receive help to manage their finances, reduce debt and build a stronger, more secure future for themselves, their families and communities.
"Longer five-year funding agreements will also provide stability and certainty for organisations providing National Debt Helpline services."
The National Debt Helpline provides free, accessible financial counselling services for people in Australia experiencing financial difficulties or to help find solutions and manage their debt.
Contact can be made via phone or online through web chats.
Funding of $27.4 million will be distributed between eight organisations to support the National Debt Helpline, along with the expansion of an online booking system trialled in South Australia, Western Australia and the Northern Territory, so people who need support can get it in a way that best suits them.
Financial Counselling Australia will also receive $16.7 million to support the National Debt Helpline with coordination and training and other programs to assist the needs of Australians in financial difficulty - ensuring staff have the most up to date resources to best support Australians using the service.
This is another way the Government is helping with cost of living pressures and follows Labor's tax cuts, energy rebates and cheaper medicines. The Government has also increased maximum rates of Commonwealth Rent Assistance by 45 per cent since it was elected.
The Government invests around $150 million yearly into Financial Wellbeing and Capability programs, enabling organisations to deliver critical services to Australians in financial stress and hardship.
Financial Counselling Australia Co-CEO Peter Gartlan has welcomed the continued investment and support for financial counselling in Australia.
"This funding comes at a vital time for the sector and those in financial stress," Mr Gartlan said.
"Financial counselling services are in high demand with the current cost-of-living pressures and this means people who are struggling can continue to get free and independent help from the National Debt Helpline and other financial counselling agencies.
"There is no shame is seeking help from a financial counsellor. In fact it may be the smartest decision you will ever make."
