MONEY MANAGEMENT SERVICES
Money Management Services provide practical and essential support to help people of East Arnhem Land to build longer-term capability to manage their money better and increase financial resilience. The Money Management Service is currently delivered in the following East Arnhem Communities; Gapuwiyak, Galiwin'ku, Milingimbi & Ramingining.
Participating in Money Management programs empowers people to:
- make better and informed decisions about managing their money including managing money from payday to payday to ensure essential living expenses are covered (e.g. food, rent, clothing, education, regular bills) and share household expenses fairly
- plan and set goals for items such as whitegoods, furniture, cars, boats and leisure goods and to put something aside for their children and the future
- better use financial services to manage their household funds and access technology such as ATMs and phone and internet banking
- be aware of their rights as consumers, know how to avoid exploitation when using their money and how to get better deals when making purchases
- improve capacity to assist other people financially, or resist inappropriate requests for financial assistance
- have an understanding of the requirements attached to home ownership
- better deal with financial hardship and money stresses.
The East Arnhem Money Management Team:
- delivers education and intensive coaching in financial literacy and budgeting
- provides use of tools to implement individual and family budgeting and savings, and debt management plans including on-going budget monitoring
- organises related family support and referrals
- assists with accessing financial institutions and financial services information
- delivers education and information sessions relating to Money Management services that meet local community need
- delivers approved money management courses to improve participants understanding of how to manage their money, plan for the future and find out what services are available to them.
The Money Management Service is currently funded by the Department of Families, Housing, Community Services & Indigenous Affairs (FaHCSIA).