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Q: What is an approved money management course?
A: An approved money management course is an education course covering topics including budgeting, money planning, savings and spending, goal setting, an introduction to banking, credit and credit cards, debt, the cost of credit, money loans and rights and responsibilities. -
Q: What are the benefits of participating in an approved money management course?
A: Approved money management courses will help you develop an understanding of how to manage your money and plan for the future. Completion of an approved money management course is also one of the eligibility criteria for the Matched Savings Payment. -
Q: How does completing an approved money management course help me qualify for a Matched Savings Payment?
A: Completion of an approved money management course is one of the eligibility criteria for the Matched Savings Payment. To be eligible for the Matched Savings payment you must:-
be on income management (excluding Voluntary Income Management)
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complete an approved money management course
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maintain a pattern of savings from your discretionary funds for at least 13 weeks from the commencement of the approved course, and
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not have already received a Matched Savings Payment.
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Q: How do I register for a course?
A: To find out more about course providers in your area call the Centrelink Income Management line on 13 25 94* or contact your local money management or financial counselling service. When you find a course provider you should contact them and ask them if you can participate in their next available approved money management course. If they have a time and location that suits you, you should ask the provider to register you for that course. When you register, the provider will send you some course materials, including a basic budget, and advice of your first face-to-face session date. The date you register for your course is the earliest date you can start your qualifying savings period for the Matched Savings Payment. -
Q: Can I complete another course that is not on the approved list?
A: To qualify for the Matched Savings Payment you must complete a course that has been assessed and approved by the Department of Families, Housing, Community Services and Indigenous Affairs [FaHCSIA] as meeting the minimum requirements to be an approved money management course. If your course provider does not know whether their course is an approved money management course check with Centrelink. -
Q: What if there is no course provider in my area?
A: To find out more about course providers in your area call the Centrelink Income Management line on 13 25 94*. -
Q: If the service is a visiting service, how can I find out what days and at what times the course is run?
A: Please contact the course provider to find out when they will be conducting courses in your area. -
Q: Are courses available by phone or online?
A: Approved money management courses must be delivered through face-to-face workshops or lessons for a minimum of six hours. Courses may include some online learning, but they cannot be delivered solely through web-based delivery. To find out more about the courses available in your area call the Centrelink Income Management line on 13 25 94*. -
Q: How do I reschedule the course if I can't make it?
A: Please contact your course provider to arrange a more suitable time. -
Q: Will I be penalised if I can't attend the course at the allocated time?
A: No, there are no penalties for not attending or completing your course. You should contact your course provider to discuss the possibility of attending at another time or location. -
Q: Are the courses held as group sessions or one-on-one sessions?
A: Delivery will vary from provider to provider. Contact your course provider to obtain course delivery information and to discuss any special requirements you have. -
Q: Can I request a one-on-one session?
A: Please contact your course provider to discuss availability of one-on-one sessions. Course providers are not obligated to deliver one-on-one sessions and availability will be at the discretion of the provider. -
Q: What happens during the courses?
A: You will be provided with information to help you develop and use a personal budget, develop and use a savings plan and develop an understanding of debt and consumer credit. You will also be provided with information to help you develop a pattern of saving, which you must demonstrate to Centrelink to be eligible for the Matched Savings Payment. Please contact your course provider for more information on the course content and delivery arrangements. -
Q: How long do the courses take?
A: Course delivery will vary from provider to provider, but must have a minimum of six hours of face-to-face contact. To find out more about course providers in your area call the Centrelink Income Management line on 13 25 94* or contact your course provider to discuss timing. -
Q: Can I be reimbursed for any costs I incur to travel to the course?
A: No. To find out more about course providers in your area call the Centrelink Income Management line on 13 25 94*. -
Q: Do I get a certificate once I have completed the course?
A: It is a requirement of providers delivering approved money management courses that they issue participants with a certificate upon completion of the course. The certificate must be provided to Centrelink when claiming the Matched Savings Payment. -
Q: What do I do when I finish my course and I need to notify Centrelink?
A: When you have finished your course you will receive a Certificate of Completion. You must take this certificate to Centrelink to claim the Matched Savings Payment. -
Q: What ongoing support can I expect?
A: You can access free ongoing money management services and support at any time before and after you complete the approved money management course. Please contact your local money management service or financial counselling service for more information.
*Calls from your home phone to Centrelink '13' numbers from anywhere in Australia are charged at a fixed rate. That rate may vary from the price of a local call and may also vary between telephone service providers. Calls to '1800' numbers from your home phone are free. Calls from public and mobile phones may be timed and charged at a higher rate.
Disclaimer The information contained in this publication is intended only as a guide. The information is accurate as at August 2010. If you use this publication after, please check with FaHCSIA that it is correct.