Financial problems or financial pressure is a situation where money worries are causing you stress. Many people are facing hard financial times and the impact on mental health can be significant. These problems can seem impossible to overcome, but you can get help and take steps to improve your situation.
Signs you may need help with finances and debt
- Late bill payments or often seeking extensions
- Minimum or missed payments on credit cards
- Spending less money on necessities e.g. food
- Increasing debt from credit cards or loans
- Legal action for debt recovery
- Fear of eviction by being behind in rent or loan repayments
- Not enough money coming in to cover required spending
The impact of financial problems on your health & relationships
- Worrying a lot or feeling anxious over money
- Arguing with loved ones over money
- Feeling unwell
- Being afraid to open the mail
- Difficulty sleeping
- Feeling guilty spending money on non-essentials
- Contact a financial counselling service for free, confidential help.Set aside money in a savings account each month for emergencies if you can – every little bit helps.
- Contact people who you owe money. Tell them you are having difficulties and ask for time to work things out. Make progress payments and set up a payment plan. Many services are happy to give you payment extensions if you call them. If you don’t get a helpful response speak to the Hardship Team of the lender or provider you are dealing with.
- If you don’t feel you've had a fair hearing, make a complaint to the Ombudsman.
- Consider approaching a welfare service in your area for help with bill payments e.g. power, gas, phone.
- Get help if you are feeling overwhelmed and cannot cope mentally or emotionally. Talk to a friend, family member, your GP, counsellor or a helpline like Lifeline.
Did this information help? Give us your feedback.
National Debt Helpline
1800 007 007
9.30am - 4.30pm, Mon to Fri
- 1300 36 3 622