Increasing money management skills in First Nations communities

By Melissa Bickford

Proud Gunditjmara, Yorta Yorta and Wiradjuri woman Chantelle McGuinness, is a financial counsellor with the Victorian Aboriginal Health Service (VAHS). She and her team take a positive approach to helping Community manage their money, and they’re already seeing some deadly results.

The VAHS team works with clients to build financial skills to help them manage expenditure and aim to change the thinking around money.

Chantelle says, ‘We try to create positive messaging about money and normalise that managing money doesn’t come naturally. We take away the scariness of taking control of your finances.

‘Learning to manage money is a big part of almost everybody’s lives but, unless you’ve been taught how, you probably won’t be that good at it.’

‘We try to create positive messaging about money …’
_{- Chantelle McGuinness}

The team teaches Community to identify priorities, create budgets, make regular payments, and how to save.

Chantelle wishes there was more education around money at an early age. She suggests that kids doing chores at home for pocket money teaches them to earn money, and shows that things actually cost money.

‘For mob just starting work, small lessons around what their pay is and what their expenses are, can be helpful,’ she says. ‘And there’s a lot of entrepreneurship within this generation, so them understanding about tax and contributing to your super is important too.’

Recently, the VAHS team have noticed that mob are coming in with improved financial skills.

‘We’re seeing more people saving for a family holiday or a deposit on a car, which shows they understand money better. And we’re not seeing them as often because they’re on top it,’ says Chantelle.

‘A few young people have come in to do a budget lately. I remind them that a budget is not a magic wand — unless you stick to it, it’s not going to work.’

Chantelle has also seen a shift with people coming in less stressed and more on top of things than when people previously sought help.

‘I remind them that a budget is not a magic wand — unless you stick to it, it’s not going to work.’
_{- Chantelle McGuinness}

‘A client recently came in for assistance with budgeting and, when we looked at it all, she was already doing what you’re supposed to do,’ she says. ‘So, we’re starting to see people prioritising.

‘When I tell them they’re doing pretty well, they feel a lot better.

‘When someone does seek help for financial difficulties, we advise them to tell debtors that they have a financial counsellor and are sorting things out. We let them know almost everyone has money problems.

‘When I tell people I go on payment plans too, they’re surprised. It helps to normalise those things.’

When it comes to harm from gambling, Chantelle notes, ‘We still get mob in who think that if they just have this win, they can pay all their bills. When someone tells me, “But Aunty won up big,” I ask, “How much do you think Aunty put in to get that ‘win’?”

‘I tell clients if they saved a little each pay that will build up and they’ll have it there for real, not just hopefully there. It’s about changing that mindset from having to win money to you already have money, you just need manage it better.

‘It’s about changing that mindset from having to win money …’
_{- Chantelle McGuinness}

‘We encourage clients to prioritise essential living expenses first, put some savings away each pay, and then be free to do what they like with the rest.

‘I tell people, “We’d all love a big win but look at the stats – it’s pretty unlikely. If everyone could win big, the gambling industry would lose money and shut down.”

The VAHS team also encourages clients to set an affordable gambling budget and set and stick to a maximum bet size.

‘We’re not anti-gambling,’ continues Chantelle, ‘because we want Community to come to us if they need to. Our message is that gambling can be harmful if you don’t have barriers in place to help you stick to a budget or a set limit.

‘Gambling harm happens when you can’t afford it but you do it anyway.’
_{- Chantelle McGuinness}

‘If all your expenses are paid and you can afford it, then do what you like.

‘Gambling harm happens when you can’t afford it but you do it anyway, so it’s about having that awareness.’

A new guide, Financial Literacy and Gambling Behaviour in Victorian First Nations’ Communities has recently been developed for First Nations organisations by the First Nations Foundation and Professor Nerilee Hing, with assistance from the Victorian Responsible Gambling Foundation.

The VAHS team is addressing the key findings in this report every day with their approach, and the recent increase in financial understanding from their clients in recent times is a great boost to the service and Community.