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Tips to deal with the health impacts of financial stress

3-minute read

Financial concerns are very common in Australia. Money worries are one of the main sources of stress in Australia, and can lead to depression or anxiety.

If financial stress is impacting your health and relationships, here are some tips to help you through this difficult time:

  • Stay on top of your emotions - Write down your worries to help you work out which issues to tackle first.
  • Look after your health - Eat a healthy, balanced diet and exercise regularly. Talk to your doctor if you have a pre-existing medical condition that could be aggravated by stress.
  • Share your feelings with supportive friends and colleagues - Identify people you can talk to about how you are feeling and who will help you remain positive.
  • Be honest with your family - Tell them about the situation and how it might affect the household budget. If your relationship with your partner is under stress, contact Relationships Australia on 1300 364 277 for support, advice and counselling.
  • Draw up a budget - Write down a summary of your finances and work out how much money you need to cover your costs. You may need to limit your spending for a while. Putting aside some money for bills, creating an emergency fund and paying for essentials first can all help ease the stress.
  • Contact your bank - Most financial institutions have policies in place to assist customers experiencing financial problems. The Australian Bankers’ Association website has lots of information about dealing with banks.
  • Contact a Department of Human Services social worker - They can give you extra support and advice on coping with financial stress. Call 132 850 or visit a Department of Human Services customer service centre.

Need help in planning, budgeting and better managing your financial issues? Try these services:

Where to get help

Talk to your doctor or another trusted health professional if this is happening to you and discuss your situation and how you are feeling. You can also call:

  • beyondblue (anyone feeling depressed or anxious) – call 1300 22 4636 or chat online.
  • Lifeline (anyone having a personal crisis) – call 13 11 14 or chat online.
  • Suicide Call Back Service (anyone thinking about suicide) – call 1300 659 467.
  • Black Dog Institute (people affected by mood disorders) – online help.

Last reviewed: December 2018

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