The death of a parent is a tough and sad time, but for Jane, she found herself in an even more challenging situation after the passing of both of her parents. While still grieving their loss, she faced significant financial stress due to the rapid rise in interest rates that impacted the stability of the fourth-generation family’s merino farm in Western NSW.
Jane’s cousin suggested she contact the Rural Financial Counselling Service. Via the 1800 number she got in touch with her local Rural Financial Counsellor Graeme Witte.
During their first meeting, Jane shared with Graeme her struggles and the financial pressures she faced. Graeme outlined how he could assist her. “There were many challenges to address, I told her we needed to tackle them one by one,” he says. Graeme was able to use his banking background and experience with clients to calmly pass on knowledge and skills to Jane, helping her to better understand her situation and what options she could take.
“Graeme laid out various options for how we could achieve financial stability. He offered non-judgmental advice and helped facilitate changes that would improve the farm’s financial outlook, he could see what was best suited for our needs” says Jane.
Graeme and Jane went through the options together and determined what was best for Jane’s situation. While the farm predominately runs grazing merinos, they also have a vineyard with Chardonnay and Shiraz wine grapes as well as a citrus orchard.
“I was so stressed out. At the time, I couldn’t see a way that I could keep the farm going,” says Jane.
“However, with Graeme’s support I now feel that I am in control and the farm’s future is secure.”
Jane says that one of the critical aspects of Graeme’s support was acting on her behalf in discussions with the banks, accountants and solicitor, which took away some of the pressures Jane was experiencing.
This case highlights the critical role that Rural Financial Counsellors play in supporting rural families through times of financial hardship. “Because of his experience and knowledge he knew the options available and the lingo that I was not able to express clearly. It was really good to have someone speak on your behalf and represent you. It felt like he really understood what I was thinking and it was reassuring that I didn’t have to keep explaining myself.”
“People talk about job satisfaction; I gained a lot of satisfaction helping Jane and her family overcome the stressful challenges they were facing. It is a great feeling when you tell your clients that they no longer need your help because they will be okay from now on and they have the confidence to continue. That is why we do what we do, “says Graeme.
Jane is now in control and feeling positive about the future of the farm.
“I feel incredibly lucky to have had RFCS NSW’s support, it is such a valuable service and I encourage anyone who is facing similar challenges to get in touch with them too,” she says.
