Barefoot Investor visits Eastern Goldfields Regional Prison to offer inmates financial counselling

The Barefoot Investor has paid a visit to the Goldfields’ only prison to help inmates prepare financially for life on the outside. Australian author Scott Pape spoke to inmates in their final months of incarceration at Eastern Goldfields Regional Prison in Kalgoorlie-Boulder about dealing with debts and budgeting incomes. “I found the prisoners to be really engaged and really enthusiastic about life on the other side,” he said. “The aim is to get them to a point where they feel in control, because if they feel in control, they’re much less likely to reoffend and they’re going to have a better experience.” Pape, who has visited many prisons across Australia, said it was common for inmates to find themselves in overwhelming debt when they left prison. He said often they found themselves facing debt that had multiplied while they were first behind bars. Pape encouraged the inmates to seek financial counselling from the National Debt Helpline — something he calls the “greatest secret in finance”. “It’s a free service. It’s confidential, and they will advocate for you,” he said. “Basically, you take away that (problem) in that really early period where you’re released from jail and you’re reintegrating into society, and it’s a very stressful period for a lot of people. It just takes away that one bit of anxiety, which is money.” Pape said he was often asked why he offered financial counselling to people in jail. “My view is that they’ve paid their debt to society, first and foremost, but secondly, most of the guys that I was speaking to had kids. “For me, if I can help their dad financially, get on the straight and narrow, that’s good for the children. It’s good for the community. It’s good for everyone.” EGRP Department of Justice employment co-ordinator Gemma Bourne said the visit marked the start of the prison’s new Unlocking the Future program designed to help mentor prisoners in the final months of their sentences. “Together with our training partners, we prepare them for reintegration and jobs in areas like roadwork, excavating, roofing, pipelines, and entry into WA mining,” she said. “Knowing how to manage their personal finances is vital to helping them stay on their new pathway. “They were all really keen to learn from Scott Pape and are looking forward to applying what they’ve learnt when they rejoin the community.”