Counting the Costs: Report on Financial Counsellor Stress and Work Overload
Counting the Costs: Report on Financial Counsellor Stress and Work Overload
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1-36Open access
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engResearch statement
Background This report investigates the rising stress, burnout, and work overload among financial counsellors in Victoria, driven by increasing demand for their services. It highlights systemic issues such as poverty, household debt, and inadequate social safety nets, which have intensified the complexity and urgency of cases. The study draws on a comprehensive survey of financial counsellors, capturing their experiences of unsustainable workloads, vicarious trauma, and insufficient workplace support. It provides an evidence base to advocate for sector-wide reforms to ensure the sustainability of this critical profession. Contribution This report provides the first comprehensive evidence-based analysis of financial counsellor stress and burnout in Victoria. It highlights the intersection of systemic social issues—such as poverty, family violence, and rising debt—with professional challenges, including high caseloads and inadequate support. By combining quantitative and qualitative data, the report advances understanding of the risks faced by financial counsellors and offers actionable recommendations for funding bodies, employers, and policymakers to address these challenges and ensure sector sustainability. Significance The report has impacted policy and practice, providing critical insights into the risks facing financial counsellors and the broader implications for vulnerable communities. Its findings have informed discussions among government agencies, funding bodies, and employers, highlighting the urgent need for systemic reforms. The high response rate (74%) underscores its credibility and relevance within the sector. By advocating for sustainable workloads, improved support, and sector-wide planning, the report establishes itself as a cornerstone for future workforce and policy development, and for improving support for those in financial hardship.Publication classification
A6.1 Research report/technical paperEditor/Contributor(s)
Doughney J, Ross SPublisher
Financial Counselling VictoriaPlace of publication
Melbourne, Vic.Usage metrics
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