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Understanding financial stress

Finances weighing on your mind? You’re not alone. According to our community partner Lifeline North Coast, 1 in 4 Australians are finding it hard to get by on their current income.

Financial stress can look different for everyone, but generally it relates to any stress you might feel because of a financial situation. This may include:

  • Finding it hard to keep up with everyday expenses, such as rental or mortgage payments, utility bills, and groceries.
  • Missing your loan and credit card repayments.
  • Having to cover unexpected expenses.

You don’t need to be financially wealthy to be financially healthy either. Sometimes people with more money can feel distressed because they have bigger financial commitments, and the prospect of losing the things they’ve always had is frightening.

Your financial wellbeing can negatively impact your mental health – especially if you’re struggling to find financial freedom.

What does financial stress look like?

Some of the signs of financial stress to look out for in yourself or your loved ones are:

  • Constantly feeling overwhelmed and worried about a financial situation.
  • Feeling financially stressed for a long time, and your financial situation is not improving.
  • Your financial situation has led to feelings of hopelessness and worthlessness.

Learn more about financial stress, and when it can become a problem.

How to tackle financial stress

We believe everyone should feel confident about their money, which is why we’ve got some free tools and resources available on our website, and partnerships in place to help you improve your financial wellbeing and reduce financial stress.

Resources available to you:

Other tools also available include:

Because once you’re feeling in control of your money, you can start to make choices that can positively impact other areas of your life.

Experiencing financial hardship?

We understand that unexpected or exceptional circumstances can impact your financial situation. If you're struggling financially and are worried about meeting your BCU Bank loan or credit card repayments, you should get in touch with us as soon as possible.

Visit our website for more information on applying for financial hardship assistance.

If you or someone you know is in crisis, Lifeline provides support 24/7, on 13 11 14.