We know there are intrinsic links between financial wellness and veteran health.
Our new videos and resources are designed to help veterans and their families with budgeting tips and provide more awareness of the ways Bravery Trust can help those facing financial hardship.
These online resources provide useful information if you or someone you know is experiencing difficulties paying for essential household bills, preventing growing debt, budgeting, and keeping car and housing costs in check.
They’re a starting point to help you head to financial wellness and may be the first step towards someone asking for help.
A little history
We started our own Veteran Specific Financial Counselling Service in 2020 , since that time:
- Saved veterans and their families $1.1M
- Creditor negotiations have saved up to $32,000 per veteran
- Unlocked existing income sources & entitlements of up to $550,000 per veteran
- Prevented 6 bankruptcies
- Increase budgeting skills, overall wellbeing & ability to focus on recovery/employment
Check out these new resources online at www.braverytrust.org.au/how-we-help/financial-counselling/
FinWell Tips – keeping car costs in check
Of all those reaching out to Bravery Trust, assistance with the cost of keeping vehicles on the road has been the number one request so far this year.
We’ve got some tips to help you keep your car on the road and in budget.
Watch our short video about keeping car costs in check here: Car Cost Video or download our useful factsheets about: Car Repossession and Car Loans
Consider more than the purchase/lease cost
Consider all the running costs not just your purchase or lease repayments – otherwise keeping your car on the road might be too costly.
You might be surprised by the difference in cost between car types. Drive found that one of the cheaper cars to run is Hyundai’s diesel i30 hatch coming in at $114.73 per week. But, Toyota’s Land Cruiser Sahara and Holden’s Caprice both cost around $360 per week to own – a total difference of $245.27 per week or $12,754 per year!
Useful resources for more information:
Drive: www.drive.com.au/news/size-matters-with-running-costs-20100701-zomf/
Canstar Blue: www.canstarblue.com.au/vehicles/running-costs-popular-cars/
ASIC’s Money Smart App
This reputable app is a good way to check the upfront and running costs fit into your budget, before buying/leasing a new car.
Car repossession notice
A credit provider can repossess your car if repayments aren’t maintained under a secure loan. If you receive a default notice you only have 30 days, don’t wait, contact the provider.
