Maximising NDIS funding: 6 top tips
If you are a National Disability Insurance Scheme (NDIS) participant, you’ll likely understand the importance of maximising your funding. Here are six tips to get the most value from your plan.
When it comes to NDIS funding, every dollar counts.
So, it’s important to make the most of it.
This is something that can be easier said than done, but we are here to help.
In this article, we reveal six handy, practical tips for maximising NDIS funding.
1. Seek help
The NDIS is complex to understand – for anyone.
It’s why seeking assistance to untangle its intricacies makes perfect sense.
Who is best placed to lend a hand? Support Coordinators.
It is their job to not only understand the system but help NDIS participants to navigate it.
Support Coordinators offer personalised support, which gives you the best chance of maximising your NDIS funding.
There are other support avenues you can call on, including us. Contact our support office if you have any NDIS-related queries or check out the dedicated NDIS section of our website.
The important thing to remember is that you are not alone with this process.
2. Start with your goals
If you had to list all the supports that you require in every aspect of your life, it would be an overwhelming task.
But that is essentially what is required when determining your NDIS plan.
So, we suggest starting at the beginning to maximise your NDIS funding.
Our experience has taught us that participants who have clear goals from the get-go generally tend to have more successful NDIS journeys.
Identify those goals, and work back from there.
Picture what your life would ideally look like, then think about what you need to reach that point.
This will give you a good starting point to determine what supports you may need.
The National Disability Insurance Agency (NDIA) will consider your goals and recommend supports that can help you to achieve them.
It is worth noting that the NDIA will make sure each and every support is reasonable and necessary.
3. Understand your plan
Take time to understand what your NDIS funding can cover and what supports are available to you.
It leads to many possibilities.
We’ve created a useful resource that explains the NDIS funding categories. It breaks down the difference between core, capital and capacity building.
Under these funding types, your supports will be organised into categories. Each category relates to a specific outcome to reflect the goals and aspirations you would like to achieve.
These categories cover expenses you may not have thought of, so read about each category and what it covers.
If you are struggling to understand some elements of your NDIS plan, we again recommend reaching out to a Support Coordinator or other relevant experts for help.
4. Be creative
Gone are the days where people with disability had limited choice and control.
The NDIS has been designed to help meet individual needs and circumstances.
This means there is flexibility to tailor your plan to suit your needs.
So, thinking creatively often leads to the best NDIS plan outcomes.
5. Use your funds
This sounds like an obvious tip, but hear us out…
Did you know that roughly 30% of NDIS funds go unspent? That is a lot.
If you do not use your allocated NDIS funding, it does not roll over at the end of your plan.
So, when it comes to maximising NDIS funding, make sure you are allocating spend at every opportunity.
Remember, if you have NDIS funding, it means it has been deemed reasonable and necessary. It is there to make your life better.
Also, by using your funds, you can demonstrate to the NDIS in your plan reviews just how the scheme is benefitting you.
If you are leaving funds unspent, your planner may be inclined to give you less funding in your next plan.
6. Keep checking in to see how you are tracking
Once you have your NDIS plan and have set up your supports, periodically check your financial position.
This will help you to avoid a scenario where you have used all your funding months before your plan is due to finish.
While the NDIS scheme can be daunting, complex and riddled with paperwork, it does have the ability to transform your life and enable you to achieve what is important to you.
Making the most of your NDIS funding goes a long way to helping to make that happen.
NDIS funding support
Looking for more information about all things NDIS?
Endeavour Foundation’s dedicated online NDIS hub is an excellent resource.
It covers anything from NDIS eligibility to how the funding works.
And if you have any questions, we suggest you contact us.
