Managing your financial stress during COVID-19

Financial-Stress

There is no doubt that COVID-19 has had a wide-ranging impact on all of us. It is perfectly normal to worry about our financial situation, even in the best of times, as we try and provide a good life for ourselves and our loved ones. With so much uncertainty across several industries and employers, financially related stress may become overwhelming.

Financial worry is normal. Financial security, job security and a steady income are important basic things we require to provide for our loved ones, to feel safe and secure. Financial security supports our wellbeing, such as leisure time and activities. The loss of that security creates uncertainty and anxiety. If we are not careful to manage our thoughts and emotions, financial stress can dominate our thoughts 24/7 and impact on our health and wellbeing. The way we view our financial situation can shape our thoughts and feelings and harm relationships.

Some signs that financial stress is affecting your health and relationships include:

  • arguing with your partner or family about money
  • difficulty sleeping or relaxing
  • feeling angry or fearful
  • mood swings
  • tiredness
  • muscle pain
  • loss of appetite
  • withdrawing from interaction with others.

Financial stress can affect your health in many ways:

  • poor physical health
  • delaying accessing healthcare
  • poor mental health 
  • unhealthy coping behaviours.

Seeking help to fully understand your financial position and the options available to you is the first step in getting back in control of your finances and improving your mental and physical health. AccessEAP offers specialist Financial Coaching in addition to EAP counselling. For more information, Manager and Personal Tools can be accessed here or call 1800 818 728 to book an appointment.

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