Our wellbeing can be strongly influenced by our financial situation. Financial stress is one of the main stressors in our lives, which can negatively affect our overall wellbeing.

Planning for good financial health, much like planning for good physical and mental wellbeing, helps us stay in control. When we manage our debts and are informed in making financial decisions, we feel a sense of control in a really important part of our lives.

MyPulse has picked five top resources to minimise financial stress and have you feeling in control:

1. Plan your budget
2. Stay up to date
3. Get a better deal
4. Tackle your debts
5. Help if you need it

FOR PLANNING YOUR BUDGET

We’re going to mention ASIC’s MoneySmart* resources again because they’re just that good. Your budget goes beyond what you earn and spend, and their ‘Get your money on track’ guide also helps you plan your savings, super, home loans and investments, on top of having a nifty budget planner tool too!

FOR STAYING UP TO DATE

The financial landscape is changing each day, so it’s good to read up every once in a while. Surely you’ve heard of Barefoot Investor by now? Scott Pape (AKA Barefoot Investor) keeps a great blog on his website with stories related to current Australian financial affairs and tools to help you manage your finances such as the cheapest home loans on the market each month, and the best bank accounts following the latest RBA rate announcement.

Jane Horn is based in Tasmania and has written the book Mindful Money. The website has some great resources here.

Are you up to date with all the latest on your superannuation? Are you aware of the services your superannuation provider can offer you? Visit Tasplan or RBF for further information or contact your provider.

FOR GETTING A BETTER DEAL

Making decisions about credit cards, insurance, loans and everything in between is confusing if you’re not up with the latest lingo. Luckily, there are comparison sites to help you compare apples with apples to find what you’re really after. You’ll feel well researched in a matter of clicks. One example is Canstar – you can find out more about the privately owned company here.

FOR TACKLING YOUR DEBTS

Putting together an action plan for your debts is key to feeling in control of your finances. ASIC’s MoneySmart* resource has a 5-step plan for debt management. The asset stock take calculator helps asses your financial position, and you can then work out how to prioritise your debts.

FOR HELP IF YOU NEED IT

If you need support for any financial stresses you may be dealing with there are a range of free financial counselling options available, which we encourage you to utilise. You can find your nearest financial counsellor here, or you can get back on track with free financial counselling provided by the National Debt Hotline here. Centrelink also offer a free financial information service here.

For more help if you need it, you can also get in touch with DPFEM and AT’s Wellbeing Support Officers.

*While ASIC’s MoneySmart is a Government resource, it is not associated or linked with MyPulse.