Today is R U OK? day. R U OK? day is a great initiative to create awareness about the lack of conversations we have around mental health. One of the biggest impacts on mental health is financial stress. Financial stress is a taboo topic that nobody wants to talk about, as people don’t want to be judged. This is a concern as most Australians experience financial stress at some point in their life, however, due to the lack of financial literacy we don’t know how to manage it. We also don’t know how to help others, so we don’t ask our friends, family, colleagues if they are OK?
Signs you may be experiencing financial stress
- Late bill payments
- Not enough money coming in to cover required spending
- Spending less money on necessities e.g. food
- Minimum or missed payments on credit cards
- Increasing debt from credit cards or loans
- Legal action for debt recovery
Get Help
- Contact a financial counselling service for free, confidential help. Find your nearest counsellor here.
- Set aside money in a savings account each month for emergencies if you can – every little bit helps.
- Contact people who owe you money. Tell them you are having difficulties and ask when you can get your money.
- Communicate with your lender or bank. Ask to make progress payments and set up a payment plan for any outstanding debts. Many services are happy to give you payment extensions if you call them. If you don’t get a helpful response speak to the Hardship Team of the lender or bank.
- Get help if you are feeling overwhelmed and cannot cope mentally or emotionally. Talk to a friend, family member, your GP, counsellor or a helpline like Lifeline.
As always you can contact us for help.
“Learn to enjoy every minute of your life. Be happy now. Don’t wait for something outside of yourself to make you happy in the future. Think how really precious is the time you have to spend, whether it’s at work or with your family. Every minute should be enjoyed and savored.” – Earl Nightingale
R U OK?
