Seniors Financial Tools and Assistance

At Heartland Seniors Finance, we understand what a big decision taking out a Reverse Mortgage can be. To assist with your decision making, please feel free to use the following financial tools:


By taking charge of your money, whether you have a little or a lot, you could ease money stress and feel more secure and in control. Many of us consider budgeting as simply a matter of cutting expenses, however a budget can also help in setting set clear goals to ensure you make the most of your available income. 

When taking out a Reverse Mortgage, it is important to determine the amount of funds you will require now and in the future. A budget can help you do this.

ASIC's Money Smart Website has some great tools to help you with budgeting, including:

- how to do a budget

- simple ways to save money

- a budget planner


Utility Bills

Some months can get more expensive because of big bills that can be hard to budget for such as telephone, gas and electricity. If you are struggling to pay your utility bills, the following options could be available:

  • Contact your provider
    • Many companies employ hardship officers who can help you with an instalment plan for your bills.  They can also assist you in applying for emergency utility bill vouchers which can be used to meet minimum payments.
  • Apply for a rebate or voucher 
    • Rebates and vouchers can help you pay your utility bills. There are a variety of concessions available through the Department of Human Services, Telstra, and your State Government. Click here for more information.   
  • Smooth out your Bills
    • Some utilities providers offer “bill smoothing” where you are able to make fortnightly or monthly payments towards future utility bills. Contact your provider to ascertain if they offer this service and how to establish the payment process.

Centrelink also provides assistance if you receive a Centrelink payment where amounts are able to be transferred to a Centrepay expense account to pay for utility and other bills. Further information on Centrepay can be found here.

Heartland's Reverse Mortgage has a Regular Advance option which could help supplement your income and assist with bills, this is a monthly, quarterly or annual payment over 5 or 10 years.


Bereavement Payments

Losing your partner changes your life and, though money matters seem unimportant at the time, you can take steps to help prepare for the future. Providing you meet the required criteria, bereavement services may be available through the Department of Human Services. They can provide payments, counselling and financial services to help.

Dependent on your circumstances, this could include:

  • An allowance payable after your partner’s death;
  • A Pension Bonus Bereavement Payment;
  • A Widow Allowance; or
  • other payment and support services.


We recommend you contact Centrelink for any further advice you may require on 136 150.


Financial Counselling

The Australian Securities and Investment Commission (ASIC) offer a free National Debt Hotline that is open from 9.30am to 4.30pm Monday to Friday. The contact number is 1800 007 007.

They also offer a free, confidential and independent financial counselling service. Financial counsellors can:

  • assist with budgeting and government entitlements;
  • negotiate with debtors on your behalf;
  • refer you to other specialist service providers; and
  • can assist you with many other financial difficulties or disputes.



If you would like to talk to our friendly team about how a Heartland Seniors Finance Reverse Mortgage could help you, please do not hesitate to contact us on [email protected] or 1300 889 338. We are here to help you.



This information may change from time to time. This information has been prepared without taking account of the objectives, financial situation or needs of any particular individual. For this reason, any individual should, before acting on this information, consider the appropriateness of the information having regard to their individual objectives, financial situation and needs and, if necessary, seek appropriate professional, financial and taxation advice.


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