Are you worried about money heading into the holiday season? You’re definitely not alone! A 2022 ReachOut survey found that one in three young people between the ages of 16 and 25 say that the cost of living is their biggest worry at the moment.
Financial stress can have an impact on your physical and mental health, your relationships, and your overall wellbeing. If you’re experiencing financial stress you might notice:
- you’re constantly arguing with friends or family about money
- you have difficulties sleeping
- you have loss of appetite
- you’re feeling antisocial and avoiding events.
The good news is that there are many ways to reduce financial stress, like practising mindfulness, sharing your situation with your friends and family and allowing them to support you, and seeking out professional support for your mental and/or financial health. Doing mindfulness exercises, like yoga or meditations, can help you relax and reduce stress. Friends and family can also be a great support if you’re comfortable sharing your current financial difficulties. They may be able to help you financially, give you tips on how they manage financial stress, or just be there for you if you need to talk.
With the holidays coming up, you might be feeling even more anxious about how you will manage financially, especially when it comes to affording gifts. If this is stressing you out, it’s worth looking into some financial support options. You can get financial support from a number of places, including the National Debt Helpline, or connect with services such as Services Australia, The Salvation Army, and Vinnies.
There’s also plenty of ways to “chill for cheap” over the festive season. You could try:
- creating hand-made holiday cards with things you already have at home
- planning a picnic with friends where everyone has to bring a dish
- borrowing a book from the library
- baking a packet cake
- doing an online yoga class
- watching a web series on YouTube.
So, what will you be doing to make the cost of living easier during the holidays? Do you think you might do some mindfulness activities, or do you have any tips for others on how to be mindful or where to seek additional support?
