Empowering Financial Wellbeing Through Holistic Support
Discover the impact of holistic financial wellbeing services offered by professionals Colleen and Bharathi. Gain insights into breaking the cycle of poor money choices, overcoming financial overwhelm, and building money confidence. Explore how a blend of financial counselling, coaching, and education can help individuals cope with financial stress and cultivate a healthier relationship with money.
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Presentation Transcript
TAP INTO A NEW WAY OF THINKING Colleen & Bharathi Financial Counsellor & Financial Wellbeing Worker
Many of our clients are financially stretched beyond their means. Even when they have the means, many still struggle with debt.
There is a growing trend of people acting on impulse- giving very little thought to their short-term and long-term consequences
Often financial overwhelm and emotion drives poor money choices. At times poor money choices drives financial overwhelm and emotion. A cycle is formed.
Financial Wellbeing Services have the knowledge, tools and resources to help break this cycle.
In essence Financial Wellbeing is a type of therapy- it blends financial counselling with a combination of financial literacy, education, strategy and coaching support to help clients cope with financial stress.
Holistic Financial Wellbeing explores values and beliefs around money and knowledge gaps and behaviours that underpin relationship with money. It dares to look beyond the presenting financial issue
How can financial wellbeing services offer holistic client support? Financial Counselling Financial Coaching/ Capability The Carers/Therapists/ Teachers of the financial world- providing ongoing wellbeing support/preventative education/ helping to build money confidence & resilience. The Emergency Response Team of the financial world supporting with the immediate financial crisis, easing pressure, providing relief and hope for the future Together - this builds a holistic support system for our client
HOW CAN WE SUPPORT CLIENTS HOLISTICALLY? Explore - identify strengths/patterns/constraints/ blockers Accountable- homework and/or resources to read and listen to/community education.
THE INNOVATIVE APPROACH - A DIAGNOSTIC TOOL We are experiencing a changing landscape in the Financial Counselling world. Gov subsidies, moratoriums and industry changes have resulted in lower FC demand. As FCs, we know these remedies offer a temporary relief however do not address underlying problems. We also see an emerging client demographic. Many of these are forced to adjust financial behaviours that no longer work for them e.g. job loss due to Covid/ WDP Clients requesting multiple FC sessions for activities. Here lies our opportunity to adjust our focus and innovate client engagement. PRESENT - Initial Questionnaire- Credits to Susan Goodwin Uniting WA
AN OPTION IS TO REFER CLIENTS FOR FINANCIAL COACHING 1. fws@unitingwa.org.au- Susan Goodwin & Bharathi Pingali 2. Amanda.Ghouse@midlas.org.au 3. financialcounsellingnetwork@anglicarewa.org.au
ARE WE GEARED UP TO PROVIDE OUR CLIENTS WITH HOLISTIC FINANCIAL WELLBEING SUPPORT? IT IS UPTO US!!
Thank you Our way forward Best Regards Colleen Crowley Small Business Financial Counselling Coordinator City of Cockburn ccrowley@cockburn.wa.gov.au Bharathi Pingali Financial Wellbeing Worker Uniting WA bharathi.pingali@unitingwa.org.au
