Do you know what happens if you have leftover NDIS funding?
Some of the most common questions our NDIS Plan Managers get is regarding their remaining funding.
Q – What happens if I don’t spend all my NDIS funding?
Q – Will I get less funding on my following NDIS plan review if I still have remaining funding on my current NDIS plan?
What happens if you don’t spend all your NDIS funding?
Don’t panic! Not spending all your funding does not mean that your next NDIS funding will be reduced. The NDIA explains that your funding for your next Plan is determined by your disability-related support needs, not by assessing funds from your previous.
Why participants may not be spending all their NDIS funding:
- You have a significant or urgent change in circumstances, and your Plan no longer meets your needs – Sometimes, your circumstances change, and your needs are no longer meet by your current funding. We have linked an NDIS video explanation here.
- There is a lack of supports in your local area – this may be correct for rural NDIS participants and participants outside major cities.
- You can’t decide which provider is right for you – choosing the right NDIS provider is a big decision, but remember, you have choice and control over your providers. If something isn’t working out, you can change at any time.
How to spend your remaining funding?
Our Plan Managers have listed their top tips for how to help spend your remaining funding:
- Know your Plan! Knowing where your funding is allocated will help you make sure none of it goes unspent. To make this even easier, YCPM has a FREE budget tracking app. Contact us download yours today.
- Are you finding it hard to understand your Plan or how to allocate supports? If you are self-managed you can contact the NDIS directly, or if you are Plan Managed, YCPM are only a short call away and can help guide you through step by step what the best plan of action is for you.
- Look into alternate providers or telehealth providers if you can’t find local providers
- Do your research when it comes to choosing providers, but be ready for a process of trial and error