Financial hardship occurs when your expenses exceed your income, leaving you unable to meet essential costs like rent, utilities, or food.
This situation can arise due to job loss, unexpected medical bills, natural disasters, or other unforeseen circumstances. Fortunately, there are resources available to assist Australians in such situations.
Government Support for Financial Hardship
Centrelink Assistance
Centrelink provides various support payments for those experiencing financial difficulties. Key options include:
- Crisis Payment: A one-time payment for individuals facing extreme circumstances like natural disasters or domestic violence. You must already receive an income support payment and apply within seven days of the event.
- Advance Payment: If you’re already receiving Centrelink benefits, you may be eligible for an advance on your payments.
- Special Benefit: For those who don’t qualify for other income support payments but are in severe financial hardship.
To learn more or apply, contact Centrelink at 132 850 from Monday to Friday, 8:00 AM to 5:00 PM.
Housing Assistance
If you’re homeless or at risk of homelessness, state and territory governments provide emergency accommodation and rental bond assistance. Contact your local housing department:
- New South Wales: Link2home (1800 152 152)
- Victoria: HousingVic
- Queensland: Homeless Hotline (1300 474 753)
Community and Charity Support
Emergency Relief Services
Charities and community organizations offer short-term assistance for immediate needs such as:
- Food parcels or vouchers
- Utility bill payments
- Clothing and furniture
- Back-to-school costs
Key organizations include:
- Salvation Army: Call 13 72 58
- St Vincent de Paul Society: Call 13 18 12
- Local community centers and churches
National Debt Helpline
For free financial counseling and advice, contact the National Debt Helpline at 1800 007 007, available Monday to Friday from 9:30 AM to 4:30 PM. Aboriginal and Torres Strait Islander peoples can call the Mob Strong Debt Helpline at 1800 808 488.
Bank Assistance Programs
Many banks in Australia offer hardship programs for customers struggling with debt. Contact your bank’s financial hardship team directly:
- ANZ: 1800 252 845
- Commonwealth Bank: 1300 720 814
- NAB: 1800 701 599
- Westpac: Visit their website for details
Banks may offer solutions like loan repayment deferrals or restructuring options. Reach out as early as possible to explore these options.
No Interest Loans (NILs)
For those on low incomes, No Interest Loans provide access to funds for essential items like appliances or medical expenses without interest charges. Visit the Good Shepherd website to check eligibility and apply.
Emotional Support Services
Financial stress often impacts mental health. Free emotional support is available through:
- Lifeline: Call 13 11 14, available 24/7
- Beyond Blue: Call 1300 22 4636
- Gambling Help Online: Visit their website for resources
Steps to Take During Financial Hardship
- Assess Your Situation: List all income sources and expenses to understand your financial position.
- Seek Professional Advice: Speak with a financial counselor through the National Debt Helpline.
- Communicate with Creditors: Inform lenders about your situation and negotiate repayment terms.
- Access Emergency Relief: Reach out to charities for immediate assistance with essentials.
- Apply for Government Support: Explore Centrelink payments and housing assistance programs.
