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Looking after your financial wellbeing

2020 04 30 LSP 606

Along with the physical and emotional challenges of the COVID-19 pandemic, many Australians are facing financial challenges during this time.

This can feel overwhelming and we know that financial stress can increase the risk of developing anxiety and depression.

Steps you can take

But there are steps you can take to regain a sense of control.

It can be difficult but being pro-active is a good start: review regular payments and contact your bank. And check out the significant financial government assistance now available to help people, families and businesses.

If you are currently out of work, know that it is normal to feel a range of emotions. While it is hard right now, it is important to remember that it won’t last forever and you are not alone.

Information on accessing a portion of your superannuation, financial support and living on a reduced income, income support and JobKeeper Payments, free access to child care and emergency, crisis and legal support can be found on the MoneySmart website.

Here are some important steps that you can take:

  • Understand your current financial situation
  • Develop a budget
  • Look at what is coming in versus what is going out
  • Visit MoneySmart – this provides simple information, useful links and helpful tips for budgeting and managing your finances
  • Be aware of resources and services available in the community to help you when you need it.

Don’t be afraid to reach out. Remember, COVID-19 has had an impact on the financial situation of a lot of people. Community agencies and the Federal and State Governments can assist in providing the support you need.

Emergency financial help

There are supports available for you to access if you are struggling to afford basics like food and housing. Financial Counsellors can assist South Australians in financial difficulty by providing information, support, and advocacy for their clients. Financial Counsellors work within the community sector, and their services are free, independent and confidential.

To find out more about services available to you, visit our Services and Support page.