Flourish Health & Wellbeing eMag - Latest Edition - Flipbook - Page 65
Do Not Wait for a Crisis
Financial dif昀椀culty can feel
deeply personal, but early
support can prevent the
situation from escalating.
Moneysmart directs
people experiencing
昀椀nancial hardship to free
昀椀nancial counselling and
other support services.
A 昀椀nancial counsellor
can help someone
understand their options,
negotiate with creditors
and prioritise essential
expenses. Moneysmart
also provides information
about crisis payments,
concessions and
assistance for urgent
money problems.
Professional 昀椀nancial
advice may be appropriate
when decisions
involve investments,
superannuation,
retirement or more
complex 昀椀nancial
arrangements.
Moneysmart advises
checking that an adviser
is appropriately licensed
and understanding the
difference between
general and personal
昀椀nancial advice.
Progress,
Not Perfection
Financial resilience is not
a 昀椀nish line. A household
may feel secure one
year and vulnerable the
next following illness,
separation, unemployment
or a major expense.
The most effective plans
are 昀氀exible enough to
change with real life. A
budget can be revised.
An emergency fund can
be rebuilt. Insurance and
debts can be reviewed as
circumstances evolve.
Even small improvements
can strengthen the ability
to absorb a setback.
Knowing where your
money goes, creating
a modest buffer and
seeking assistance early
can provide something
especially valuable
during uncertain times:
more options.
