Nurturing your mental wellbeing amid financial stress

November 23, 2023
Black Dog Institute Mental Health

Nurturing your mental wellbeing amid financial stress

The current economic situation in Australia is not only affecting people’s financial well-being but also taking a toll on their mental health. Factors like housing affordability, rising living costs, and limited job opportunities are causing financial stress, leading to various negative consequences for individuals and their families. 

A recent report from the Australian Bureau of Statistics (ABS) reveals that the cost of living has surged by a significant 23.4% over the past year, adding to the financial burden on many households. 

When faced with financial hardships, we can often resort to working extra hours or taking on additional jobs to make ends meet. While this can provide a temporary financial boost, it can result in increased stress, overwork, and limited quality time with family members. It can also place added pressure on the entire family unit. 

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