Dear Supporters & Friends,
It’s no secret that the cost of living keeps going up—housing, cars, groceries, and just about everything else have become more expensive. On top of that, the job market is more competitive than ever, especially with more people moving to
Australia in search of opportunities. For young adults trying to find their footing, thesem challenges can feel overwhelming.
As we step into 2025, it’s important to recognise how financial stress isn’t just about money- it can take a serious toll on mental health. Anxiety, burnout, and feelings of uncertainty are more common than ever. That’s why we’re starting this conversation- to raise awareness, provide support, and remind you that you’re not alone.
What exactly is financial health?
Financial health is a measure of overall financial well-being, beyond just credit scores. It reflects how well a person manages spending, saving, borrowing, and planning to stay stable, handle setbacks, and pursue opportunities with confidence.
According to the Australian Consumer Financial Wellbeing report done by Commonwealth Bank in March 2022, financial well-being has decreased steadily across the years, with the pandemic year (2020) being the only outlier. To evaluate
financial well-being, Commonwealth Bank categorised their clients into 4 groups:
- Doing Great
- Getting By
- Just Coping
- Having Trouble
According to survey results, there has been a decrease in people in the first two categories, and an increase in the latter two categories, showing support that financial well-being have consistently decreased across the years. It is also reported that financial stress increases across age groups, forming a negative correlation with age. So the younger the clients are, the more financial stress they experience.
In support of this notion, the financial wellness reported by AMP in 2024 surveyed around 2,500 Australians that are over the age of 18 from all states. Results showed that only 34% of Australians feel financially secure, and all 34% are over the ages of 40. They also showed the same trend where financial stress have increased across the years.
Associations between Financial Health and Mental Health
The Australian Securities and Investment Commission (ASIC) have collaborated with Beyond Blue to find out and establish the link between financial health and mental health. Results showed that there is indeed a correlation between the two variables, and that people experiencing financial stress are twice as likely to encounter mental health issues. The reverse is also true, where people who encounter mental health issues initially are twice as likely to experience financial stress due to troubles at work.
The most common associated mental health indicators are stress, anxiety, insomnia, depression, and suicidal thoughts.
Coping with Financial Stress
Here are some steps to take to cope with financial health and stress:
Step 1: Talk to someone
Talk to anyone and not burden all the responsibility by yourself! Financial responsibility should not be burdened by an individual alone, but by everybody in general. Be it your spouse, your family members, friends or even your colleagues or your boss, everyone may have gone through similar experiences and may be willing to lend you a helping hand.
Step 2: Track and plan your spendings
It is obvious that the only way to not go into debt is by not spending more than what you have. However, while the theory sounds simple, it may not be so applicable in real life. There are always extraneous variables that may cause you to spend more than you are willing. Therefore, the best way to manage your finances is to plan and lay out your financial allowances and limits for each category to help you manage your money.
Step 3: Manage your personal mental health
Managing your finances is one thing, but you must also ensure optimal mental health wellbeing. When you have time, take some time for yourself to do some exercises or spend some time with your loved ones. People tend to overwork themselves, which puts them in jeopardy of suffering mental disorders or health disorders, which creates a dark, vicious cycle that impacts their financial stresses in life. Other methods include practicing relaxation techniques and improving your quality and quantity of sleep.
We are offering a free six-week program, Managing & understanding your financial health – to Empower Your Financial Future!
ATHENIE’S Angels Aus Ltd is committed to uplifting individuals and families through financial education and empowerment. Our six-week financial program is designed to provide practical tools and knowledge to help participants take control of their finances, reduce financial stress, and build a more secure future.
What you’ll gain:
- Budgeting & Saving Strategies – Learn how to create and stick to a realistic budget.
- Debt Management & Reduction – Gain insights into managing and paying off debt effectively.
- Smart Spending Habits – Discover ways to make informed financial decisions.
- Financial Resilience – Build skills to navigate unexpected financial challenges.
- Investment & Wealth Building Basics – Understand the fundamentals of growing your finances.
- Personalised Guidance – Benefit from expert advice tailored to your financial goals.
Who Can Join?
This program is open to individuals and families looking to improve their financial well-being. Whether you’re starting your financial journey or seeking better money management skills, this program is for you!
Join Us!
Program Time: Starting Wednesday 26th of Feb from 7 to 9 pm.
Location: Online
Cost: Free – Our mission is to make financial literacy accessible to all.
Take the first step toward financial empowerment. Register today and invest in your future!
For more information or to sign up, visit atheniesangels.org.au and complete the program registration form.
Hope to see you there!
We are a place of hope!
Writer, Researcher
Danny Lou