Barefoot Investor Scott Pape to counsel bushfire victims
Financial counsellors will be an important part of the bushfire recovery effort, says Barefoot Investor Scott Pape, who lost his own home to fire in 2014.
Barefoot Investor
Don't miss out on the headlines from Barefoot Investor. Followed categories will be added to My News.
Barefoot Investor Scott Pape is combining his personal experience as a bushfire victim with his financial counselling qualifications to help Aussies smashed by the fire crisis.
The best-selling author, who lost his own home to a bushfire in 2014, is hitting the road next week to visit affected communities and help counsel victims.
Mr Pape was in Canberra on Wednesday at a government roundtable bushfire discussion involving finance and insurance groups, having been asked to share his experiences as a victim.
He said he was worried by reports from insurers that two-thirds of bushfire claims were being cash settled rather than having the damage repaired and replaced.
“That is a concern,” he said. “It’s flipped. Generally one-third of claims are cash settled and two-thirds rebuild.
“The worry for me is people in the hardest hit areas will find the cost of building will be expensive and more than they think.
“They’re making these decisions under a lot of emotional stress.”
There were also more than 400,000 small businesses in bushfire-affected regions “who are obviously struggling”, Mr Pape said.
“The government is trying to come up immediate solutions – it was a very positive conversation, and I was there as a bushfire victim and a newly-minted financial counsellor.”
Mr Pape went back to school to become a qualified financial counsellor last year, inspired by the help he was offered by financial counsellors when almost everything on his Victorian farm was destroyed by fire.
“My home burnt down in 2014 and I saw the power and importance of financial counselling,” he said.
MORE NEWS
Biggest global military op helping Australia as fires burn
Before and after aerial photos reveal devastation
Morrison acknowledges bushfire backlash
Next week he will be visiting victims – most likely in Victoria’s Gippsland region – and trying to assist those who have lost everything.
“I will be sitting down with them and trying to help them in my role as a financial counsellor,” Mr Pape said.
“I’m the least important person (there). I’m a virgin financial counsellor and there are more important people than me – I’m going in as one of the troops.”
Mr Pape said financial counsellors were “unsung heroes” who were paid $50,000-$60,000 a year, usually worked for not-for-profit groups, and never recommended financial products or sold products.
Originally published as Barefoot Investor Scott Pape to counsel bushfire victims