Victoria’s leading community organisations have united to call on the State Government to make a bold, evidence-based investment in financial counselling that would protect families, strengthen communities, and deliver billions in long-term economic and social benefits.
41 community sector organisations have signed an open letter to Members of the Victorian Parliament supporting Financial Counselling Victoria’s 2026–27 State Budget Submission, Growing Financial Counselling in Victoria: An Investment in People, Prevention and Prosperity.
The open letter highlights the proven value of financial counselling as a frontline early-intervention service that reduces pressure on health, housing, and justice systems. It calls for long-term investment and policy reform to expand the sector’s reach and stability.
“Financial counselling is one of Victoria’s smartest social investments,” said Zyl Hovenga-Wauchope, Chief Executive Officer of Financial Counselling Victoria. “For every dollar invested, it returns between $3.70 and $5.30 in benefits through avoided costs and stronger financial resilience. It’s a service that prevents crisis before it happens, and saves government money in the process.”
Financial counsellors work with individuals and families to navigate debt, avoid eviction, negotiate with creditors, and recover from disasters, gambling harm, or family violence. Despite its proven impact, demand far exceeds capacity. With only around 300 practising financial counsellors across Victoria, it would take more than 30 years to assist all households currently experiencing financial hardship.
The community sector is calling on government to:
- Quadruple investment in frontline financial counselling over the next decade.
- Fully fund and implement the Financial Counselling Workforce Development Strategy.
- Embed financial counselling in the Victorian Government’s Early Intervention Investment Framework.
- Introduce minimum five-year funding agreements with indexation to secure the workforce.
“Financial counselling is not just a social service. It’s economic infrastructure,” said Mr Hovenga-Wauchope. “Investing in it will ease pressure on crisis systems, help people stay housed and employed, and generate measurable savings for the state.”
Signatories to the open letter include state-wide organisations Safe and Equal, Uniting Vic Tas, Council of the Ageing Victoria, Anglicare Victoria, Federation of Community Legal Centres, Brotherhood of St Laurence and Council to Homeless Persons. Their collective message is clear: early intervention works, and Victoria cannot afford to delay growth in this critical workforce.
Financial Counselling Victoria’s State Budget Submission outlines a scalable ten-year plan to grow the workforce from 300 to 1,200 financial counsellors by 2035, supporting nearly half a million Victorians and unlocking up to $4.9 billion in social and economic returns.
“Every day, financial counsellors help people keep their homes, escape financial abuse, and recover after crisis,” said Mr Hovenga-Wauchope. “With the right investment, we can ensure no Victorian faces financial distress alone.”
Media contact:
Amanda Chan, Advocacy Manager
Financial Counselling Victoria
E: [email protected] P: (03) 9663 2000