Money management kit
Money management kit factsheets, audio stories and photo stories
are available in:
Assyrian, Burmese, Chin
Dinka, Farsi, Hazaragi, Karen, Kirundi, Nepalese, Nuer, Sudanese Arabic, Swahili
For community settlement workers
Our Money management kit includes audio content and photo
stories (videos) in 16 different languages including English.
The kit was developed for community settlement workers who work
with new arrivals. It can also be used by teachers and welfare and
healthcare professionals who provide general financial literacy
education, or teach English as a second language.
How to use the kit
Video: Overview of the kit
Money Management Kit video
Aileen provides an overview of the different resources in the
kit and how you can use them to help people manage their money.
Kit topics &
Voice 1: I do not know where my money goes! I never have enough
money for everything!
Voice 2: You need a household budget!
Voice 1: A household budget? What is that?
Voice 2: It is a plan for your money that will help you keep a
regular check of what you spend.
Voice 1: That sounds helpful! How do I do a budget?
Voice 2: It is easy. Make a list of the money you receive, such
as money from work or Centrelink. Then list everything you need to
spend your money on, such as food, rent, electricity and mobile
Voice 1: Thanks! So if I follow my budget, I will understand how
I spend my money, and I might be able to start saving some
Voice 1: I got a letter in the mail offering me free
Voice 2: They are actually offering you Credit, which is money you
can borrow but have to pay back. There are also extra costs.
Voice 1: I do not understand. Why would they give me money?
Voice 2: Well by giving you money they make money.
Voice 1: How?
Voice 2: Money lenders charge interest and fees on money they
lend. That is how they make their money.
Voice 1: Oh okay.
Voice 2: Credit can be helpful, but it is important to remember
that it has extra costs. You must also pay back the interest on top
of the original amount borrowed.
Voice 1: So, it sounds like too much credit could cause me money
problems if I do not pay it back on time?
Voice 2: Yes. You are right. Only borrow what you can pay
Voice 1: I always spend all of my money. I never seem to have
enough to do the things I want.
Voice 2: Why not try to save a little money. If you save just $5
each week by the end of the year you will have saved $260.00 and if
you put it in a savings account at the bank it will grow as you
Voice 1: That sounds like a good idea! That way when I have saved
enough money, I can buy something I really want.
Voice 2: Be smart with your money. Money you have saved can help
pay for unexpected expenses.
Types of credit
Voice 1: I need to borrow some money to buy a car. I have heard
that there are different types of credit.
Voice 2: That is right. There are different types of credit
depending on what you need to buy, such as home loans, short term
loans and credit cards. Some credit costs more than others. What
you need is a car loan.
Voice 1: Ok. How do I do get a car loan?
Voice 2: You will need to shop around for the credit that is best
for you. When looking for a car loan you need to get quotes from
different lenders. Then you need to compare the costs and
conditions of borrowing the money to see which option is the best
Voice 1: Ok that is good to know.
Voice 1: You look worried! What is the matter?
Voice 2: I have just received letters in the mail saying I owe
money for the electricity and my mobile phone!
Voice 1: Yes, they are called bills! Everyone has to pay the cost
of using these services.
Voice 2: But how do I know when a bill has to be paid?
Voice 1: On your bill you will see a due date. This is when you
need to pay it by.
Voice 2: How do I pay the bills?
Voice 1: There are many ways. You can organise payment through
Centrepay, direct payments through your bank, over the phone or
internet, in person at a post office or by mail.
Voice 1: A friend of mine says he is having problems paying his
debt. Can you tell me what debt is?
Voice 2: Debt is money you owe and need to pay back. It can be
money you have borrowed or bills you have not paid.
Voice 1: What can my friend do about his debt?
Voice 2: He should contact the company he owes money to and let
them know he is having difficulties. He may be able to make
repayments he can manage better.
If he would likes some help to do this he could contact his local
free financial counsellor by ringing 1800 007 007.
Voice 1: What happens if he does not do anything?
Voice 2: If he does not pay his debts when he needs to he may have
a legal problem. It may also cost him more money.
Voice 1: I want to get a new mobile phone but the company says I
need to sign a contract. What is a contract?
Voice 2: A contract is a legal agreement. Once you sign it, in
most cases you cannot cancel it even if you change your mind.
So you need to be aware of your obligations before you sign the
Voice 1: What if I just agree to buy the phone but don't sign the
Voice 2: A contract can also be oral. For example if you are made
an offer over the phone and agree to it - that is a contract.
Voice 1: So I need to make sure I fully understand everything
before I agree to anything.
Voice 2: That is the best advice I can give you.
Working in Australia: Pay, tax and
Voice 1: Congratulations on your new job!
Voice 2: Thanks! My new employer said that every pay day, I will
receive a pay slip which will tell me how much I have earned and
how much tax I have paid.
Voice 1: Do you know that all employers must pay you
Voice 2: Yes. They told me that they will be paying extra money
regularly into a superannuation account. This money will be saved
for when I am old and do not work anymore. But before I start work
I need to get a tax file number from the Taxation Office.
Voice 1: Have you let Centrelink know?
Voice 2: Yes. It is important to let Centrelink know of changes to
your financial situation.
Voice 1: I am glad I went to the bank yesterday! I feel
confident that my money is safe.
Voice 2: Do you know that you do not have to go into the bank to
take your money out?
Voice 1: Yes! The bank explained that debit cards have a personal
PIN number that allows only me to access my money at ATMs,
supermarkets and other cash outlets.
Voice 2: Did the bank also explain how important it is to keep
your PIN number a secret?
Voice 1: Yes. You should not tell anyone else your PIN number and
you should not keep it with your card. In Australia you can keep
your money safe in a bank, credit union or building society.
Voice 1: Did you hear that our neighbours house got broken into
Voice 2: Yes and everything was stolen. It was good that they have
Voice 1: What do you mean by insurance?
Voice 2: Insurance is an agreement where you pay money to a
company to protect important things like your car, home and your
Voice 1: What sort of insurance did our neighbours have?
Voice 2: They had home and contents insurance, which helps them
replace some of the stolen items and cover their losses.
Voice 1: Well that must be a relief for them!
Voice 2: It is. They were very upset but they're glad that they
took the time to get the right insurance cover.
Photo stories (video)
Information from other
Last updated: 04 May 2018