The Victorian government has announced a $15 million expansion of financial counselling services, aimed at supporting residents experiencing mortgage and rental stress across the state.
The funding, to be distributed over three years among 16 organizations, will create 37 frontline service support positions. The expansion includes specialized services for First Nations communities through Aboriginal Community Controlled Organizations, as well as targeted support for primary producers and small businesses in Western and Northern Victoria.
Financial Counselling Victoria will receive an additional $700,000 this year to boost professional development and advocacy capacity, while the Consumer Action Law Centre secured funding to deliver specialist worker support services and training.
Key funding details:
- $15 million over three years
- 16 organizations supported
- 37 new frontline positions
- $700,000 for Financial Counselling Victoria
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Consumer Affairs Minister Nick Staikos said the expanded services will help Victorian families facing cost of living pressures get their financial situation back on track. The announcement comes as part of a broader strategy to address housing affordability and financial hardship across the state.
The Financial Counselling Program, operated through Consumer Affairs Victoria, provided support to more than 23,000 Victorians in 2023-24, including over 4,100 people affected by family violence. Services include assistance with payment plans and negotiations with creditors and insurers.
Geelong MP Chris Couzens highlighted how the funding will provide professional financial support closer to home for regional residents, complementing other cost of living measures such as fuel price caps, free kindergarten, and the $400 school savings bonus.
The government’s investment in financial counselling services has exceeded $65 million over the past four years, supporting community agencies to deliver both general and specialist family violence financial counselling services throughout Victoria.
The expansion of services reflects growing concern about rental and mortgage stress among Victorian households, with the new positions designed to increase accessibility to financial support services across metropolitan and regional areas.
Residents seeking financial counselling can locate their nearest provider through the National Debt Helpline website or by calling 1800 007 007.
