Media Release
Wednesday 15 March, 2006
Free budget booklet makes sense out of debt
As post-Christmas and back to school-related credit card debt starts to squeeze family finances, the Child Support Agency is promoting a booklet aimed at helping separating families cope financially.
It is only now many of Adelaide's 6000 separated parents registered with the CSA may be starting to 'feel the pinch' following the credit card interest mounting on Christmas and back to school bills, according to CSA's General Manager, Matt Miller.
"Separation is hard, financially and emotionally, for everyone, but it can be acute when the bills start rolling in for children's Christmas gifts and back to school gifts that may have been purchased on credit," Mr Miller said.
Me and My Money (PDF 537k) is a free booklet giving practical hints and tips for separated families needing to manage their finances. The booklet will help parents to:
- work out where the money goes
- reduce debt
- organise a realistic budget
- choose banking and other financial services
- encourage savings, and
- pass on good money habits to children
A key section of the booklet deals with "kids and money" and lists some money-saving ways of keeping children entertained. The book has a handy budgeting sheet that helps parents easily track and plan their spending.
"Me and My Money can be used by anyone, but if you're financial problems are serious, it's also important to seek professional advice," Mr Miller said.
A section of the booklet gives tips and hints on using plastic cards, explaining the differences between debit and credit cards, as well as giving an 'alert' on the pitfalls of card fees.
"With staff talking to more than 9,000 separated parents every day, CSA is in a prime position to ensure materials such as these get to families in need of extra support," Mr Miller said.
"Parents have identified that children, money, emotional well-being, the ex partner, and new relationships are the five key areas of stress for separated families."
To help, the CSA has published a series of free booklets, including Me and My Money. Other titles include Me and my Kids (PDF 486k), My kids and my Ex (PDF 837k), and What About Me (PDF 2.9MB). Each booklet deals with various challenges facing separated families, such as coping with step-children, parenting from a distance and how to maintain a working relationship with an ex-partner.
Copies of the free booklets and a list of Community Service Providers and counsellors can be found at the CSA website; www.csa.gov.au or phone 131 272 to order a free copy.
Media contact:
0434 605 144
email: media@csa.gov.au
