When cancer affects your finances, seeing a qualified professional for advice can help. Whether you should see a financial counsellor or financial adviser will depend on your circumstances.
Financial counsellors
They provide practical suggestions to help people manage their personal budget and finances, especially those on low incomes. They can refer people for legal advice and other services. They provide a free service to their clients and cannot charge fees or commissions.
A financial counsellor can also negotiate and advocate for people at financial risk. To talk to a financial counsellor, phone the National Debt Helpline on 1800 007 007, which also has a search tool to help you find a financial counsellor.
Financial advisers (may also call themselves a financial planner)
They provide advice to help people manage their assets and financial affairs to achieve their personal and financial goals. Financial advisers must have an Australian Financial Services Licence (AFSL) or work for businesses with an AFSL.
Financial advisers usually charge fees – some receive commissions for selling financial products, and others do not receive commissions and are not linked with any specific products.
To find a financial adviser, visit moneysmart.gov.au and search the financial advisers register by suburb or postcode.
If you are unable to look after your own financial affairs, you can legally appoint someone to make financial or legal decisions for you. This is known as an enduring power of attorney or the appointment of a substitute decision-maker.
Talk to a lawyer to get specific advice about your situation. Cancer Council may be able to connect you with someone who can provide legal advice. Call 13 11 20.
You hear that once people are in the credit trap, they can’t get out of it. I called Cancer Council and ended up speaking to a financial counsellor. She helped me sort things out with the bank.
Vincent
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HWL Ebsworth Lawyers, Sydney, NSW; Leigh Aitken, Consumer; Mary Bairstow, Senior Social Worker, Cancer Centre, Fiona Stanley Hospital, WA; Lynette Brailey, Team Leader Financial Counselling, Cancer Council NSW; Corinne Jones and Siew Tan, Financial Counsellors, Cancer Council VIC; Penny Jacomos, Social Worker, Asbestos Diseases Society of South Australia, SA; Dr Deme Karikios, Head of Department – Medical Oncology, Nepean Cancer and Wellness Centre, Nepean Hospital, NSW; Valerie Parsons, 13 11 20 Consultant, Cancer Council SA; Viridian Financial Group, Melbourne, VIC.
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