Media Release
(25k)22 September 2008
Easing the financial burden of separation
Hundreds of thousands of separated parents may be able to ease the stress of their family breakdown by accessing financial counselling services to help them manage their household budget.
Research from the Child Support Agency shows almost one in four separated parents are less than confident about their ability to budget.
“In the survey, 27 per cent of paying parents and 23 per cent of receiving parents said they didn’t feel confident about managing their money,” the Minister for Human Services, Senator Joe Ludwig said.
“That could represent almost 400,000 separated mum and dads.”
“I encourage parents to take advantage of the services the Government offers to help families manage their household spending.”
“The Agencies in my portfolio of Human Services are well practiced in helping people make informed financial decisions,” Senator Ludwig said.
“CSA's free publication Me and My Money is full of practical money ideas to help parents to budget and manage their finances in order to relieve the pressures they face.”
“Centrepay is a service offered by Centrelink to help families manage their household expenses. Around 1 million deductions are made every month, worth $80 million.”
“It means instead of facing a large bill every month or quarter, the bills are paid off in manageable amounts directly from a person's Centrelink payments.”
Senator Ludwig said Centrelink’s Financial Information Service also provides free and confidential information to help people understand their financial options and to make better financial decisions for themselves and their families.
“Separation generates a range of financial stresses, particularly for those parents who need to manage one income across two households,” he said.
“Creating a budget will help parents gain control of their finances and be better placed to support themselves and their children.”
Copies of the CSA’s free Me and My Money booklet as well as four other Me and My booklets are available by phoning 1800 040 972 or visiting www.csa.gov.au .
The CSA helps around 1.5 million parents transfer payments for the benefit of more than 1.1 million children.
Parents experiencing difficulties related to receiving or paying child support can contact the CSA on 131 272 and seek a face-to-face appointment.
Financial couselling services and referral information is available on the Centrelink website www.centrelink.gov.au or the Australian Government's Understanding Money website at www.understandingmoney.gov.au
Media Contact
Sarah Cosson — 0423 823 843
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