Integrating research and practice perspectives into Financial Wellbeing policy: A collaborative program redesign in South Australia

Description

Research Aim:
Outcomes-focused procurement may improve financial wellbeing services in the community sector. This South Australian initiative aimed to bridge gaps between policy, practice, and evidence by collaboratively redesigning an existing financial wellbeing funding program, to create a more integrated and outcomes-focused model.

Method(s):
State government collaborated with the community sector and researchers to re-design a financial wellbeing program. Researchers facilitated a policy review, conducted workshops with 87 service providers, synthesised and analysed data, and produced a recommended model and principles for new program guidelines.

Key Finding(s):
Stakeholders highlighted the need for people-centred, client-led services, stronger sector collaboration, better client pathways, improved marketing of non-profit products, streamlined data reporting, and peer mentoring. The new program model included financial counselling, emergency assistance, prevention, connections, and triage, with ten guiding principles. Government established a sector advisory group and flexible funding to support implementation.

Discussion questions:
Does the program advance our knowledge on outcomes-focused design? How can the collaborative redesign and procurement processes be aligned to ensure social impact?

Challenges and Lessons Learnt:
Cross-sector collaboration was essential to ensure relevance. Key challenges included aligning diverse stakeholder input with policy objectives, and translating the model into procurement guidelines while maintaining its original intentions and system integration.

Key highlights:
1. A collaborative approach developed a comprehensive 'one stop shop' model, directing $5 million in recurring funding towards integrated financial wellbeing services. 2. The process emphasised people-centred and client-led services, cross-sector collaboration, and system integration, and shows how evidence and practice can shape more effective funding programs to improve lives.

Period	29 Oct 2025
Event title	EIS: Evidence & Implementation Summit 2025
Event type	Conference
Location	Melbourne, AustraliaShow on map
Degree of Recognition	International