First Nations Australians will have greater access to programs aimed at strengthening financial skills and supporting informed money management, with the federal government investing $3.1 million in four key financial wellbeing providers.
The funding, announced Friday, is designed to empower Aboriginal and Torres Strait Islander communities with the tools and knowledge needed to make sound financial decisions and build long-term economic stability.
Minister for Indigenous Australians Malarndirri McCarthy said the government is "committed to supporting First Nations communities, investing in services that reflect partnership and shared decision-making".
"This investment will help First Nations people strengthen their financial skills and make informed choices for themselves, their families and their communities," she said.
Among the initiatives, MoneyBusiness - one of Australia's longest-running financial education programs for Aboriginal and Torres Strait Islander people - will receive a $100,000 boost to train up to 50 additional financial counsellors and capability workers across the country.
The Mob Strong Debt Help program will be granted $750,000 to continue running its free national financial counselling helpline, which provides vital support to First Nations clients managing debt and financial hardship.
Special Envoy for Remote Communities Marion Scrymgour said the programs will help First Nations people "navigate financial systems with confidence and build resilience in the face of economic challenges."
"This is a practical step toward economic empowerment and self-determination," she said.
The South Australian Financial Counsellors Association (SAFCA) will receive $250,000 to continue overseeing financial counselling organisations in the Northern Territory, funding training, accreditation, and resources to strengthen the workforce.
A further $2 million will expand the No Interest Loans Scheme across remote areas of the Northern Territory, providing around 2,000 additional loans for low-income earners and building on more than 25,000 loans already delivered nationwide.
Social Services Minister Tanya Plibersek said, "Helping people manage their money is about giving them choices, power and dignity."
"By investing in these services, we're making sure all Territorians and First Nations people across Australia have access to the resources they need to take care of their financial wellbeing," she added.
More information about financial counselling and capability services is available on the Department of Social Services website.
