In this month’s edition of The Yarn, our roving reporter caught up with James*, a recent graduate of ICAN Learn’s Fast Track Diploma of Financial Counselling program.
So can you tell us a bit about yourself?
I previously worked as an Operations Manager, and was actually pursuing social work studies part time, after work hours. But my wife came across financial counselling and recommended I consider it, so, you know, I thought I’d give it a try.
Why did you choose financial counselling?
I couldn’t juggle social work and financial counselling, so I had to put a pause on my social work studies to pursue financial counseling. Also, I could complete the Fast Track course within 12 months which was much quicker. It was a bit intensive to begin with, but in the end, it was quite rewarding to complete it within that period. I was keen to get out there and help people sooner rather than later. I always had the desire to be of help to the community at large.
Did complete the diploma through a scholarship?
I actually self-funded initially and then was granted a scholarship during the course of my studies. I wasn’t even aware there was a scholarship, but was fortunate enough to have been granted one by ICAN Learn. It was an unexpected blessing, actually.
Are you currently working as a financial counsellor?
Yes – I did my placement with a community services organisation and then was offered a job at the end of my placement, so it’s pretty fortunate.
What’s your experience as a working FC so far?
As a financial counsellor, I’m seeing a lot of the challenges we’re facing here in Victoria, which, of course, are happening everywhere. It’s eye-opening, to see what some people are going through and also understanding that sometimes there’s a stigma with the clients that seek financial counseling, but there are diverse issues around why people seek help.
Can you tell us a bit more about that?
Like, it’s one thing to learn the theory in class but it’s realising it’s different once you get into the workplace and face to face with clients. I mean, obviously in class, we were just doing role play and kind of hypotheticals or scenarios. But in the real world, you begin to see the real causes and how complex the cases are.
What did you find rewarding or challenging about the course?
It was challenging, juggling full time work, studying, and having a young family. At times it was quite difficult, as there’s a lot of commitment. But I really felt supported by not only the tutors, but because we had kind of a tight knit class. We caught up outside of class as well and, you know, spent time together with our families, we still do, even though we’ve graduated. Our group has made lifelong friendships.
How did the diversity of the class add to your leaning experience?
Most of us came from different industries and different age groups as well, but because we were going through the class and the assessments together, there was that common support of one another. And obviously the interactions in class were fun – we had a good, really good tutor. The tutor really helped set the stage, I guess, in class. Everyone was really supportive and gave input from their life experiences and also provided different perspectives.
What was a big plus for you in completing the Diploma?
The fact that the tutors work in the industry makes a big difference. That was a common theme with all the students that we had because of that industry experience and the knowledge base the tutors brought with them. There was a bit more credibility, a bit more respect, because they know what they’re talking about. It’s not just theory, they’ve practiced it. They worked alongside clients, and different organisations and are able to bring that reality to the class.
After all of your hard work, how did it feel to graduate with your Diploma?
I felt a huge sense of accomplishment, especially completing the Diploma within 12 months. But overall, I just felt very grateful. Grateful to get a placement, grateful that I was offered a scholarship, and grateful to land a job as a financial counsellor. Everything about my new career just fell into place for me, it was amazing.
Why do we need more financial counsellors in the sector?
I think the demand for help is just ongoing. It’s consistently growing, like even for myself, you know, like our funding ends in July. There’s always that concern with funding, we also get a lot of clients coming through intake who have small business-related debts, who also need support, which is sad. And obviously, there’s the cost-of-living crisis, housing crisis, etc. We constantly do reporting for our cases and we definitely see the increase in trends. It’s just a shame that there’s not more funding in the sector to meet the rising demand.
We’re also seeing a change in who is seeking financial counselling. It used to be clients from the lower socio-economic areas accessing services, but we’re seeing now that it’s probably more middle class as well, feeling the impact of increased living costs too. The job is no longer simply money management. People can find themselves in trouble through any means, like sustaining an injury or unable to work again, or, you know, a death in the family. It’s those unforeseen things that can really be sad to see.
What would you say to someone thinking about studying to become an FC?
It just depends on what your capacity is I guess, but you need to be mindful of your time management and the commitment level required. There’s quite a bit of work that goes into it.
It’s also important to understand what your end goal is. Financial counselors could be paid more. But if you have chosen to go through this pathway because of wanting to help people who are going through hardship, it’s important to keep that goal in mind. I think if you’ve got that heart to really just want to help, then you, you’ll push through any challenge.
*Name changed for privacy reasons
You can find out more about ICAN Learn’s Diploma of Financial Counselling CHC51122 Program here.
