Stress is a nefarious ailment that does not discriminate and touches nearly every person at different life stages. Financial stress is rising as households experience increasing cost-of-living pressures, a spasmodic employment environment, and up-and-down information overload on interest rates and geopolitical instability that creates too much uncertainty.
Without wanting to sound like a prophet of doom, the facts are clear. Without a solid and achievable financial plan, many individuals and families add additional stress to their lives that can be avoided. Financial advisors across Australia often try to help people after the fact, which calls for tough decisions. Preferably, we want to get ahead of the problem and build resilience into our clients’ financial circumstances so they can move ahead with positivity and set themselves up for a financially rewarding retirement.
Often, it is a hidden weight that just gets heavier over time
Too many struggle in silence with the weight of financial stress. This is a dangerous path to walk. Without professional guidance, the problem will only get worse. This is more common than you think. Over 40% of Australians say that financial issues are a major contributor to their stress, and 1 in 3 say that money problems negatively affect their mental health.
These numbers are higher in households with children and among business owners. Trying to save or pay down debt significantly hinders any future planning, and it feels more like survival mode, which is exhausting.
Trying to “get by” without a financial plan only compounds the anxiety and can result in further disorganising the finances, or making emotional financial decisions without clarity. This can lead to feeling unhinged and out of control, a key trigger to stress and anxiety.
Whether you feel like that now, can see that coming, or want to avoid this situation altogether, having a professionally tailored financial plan is a positive and proactive way to ensure that the financial factors of your life work for you rather than against you.
A financial plan supports your overall well-being
A financial plan is not about strict osteriatry measures or grounding people in spreadsheets and financial projections. It is about creating space, allowing you to breathe. It provides a roadmap. For some, it is a map to monetary recovery; for others, it is a secure pathway to financial independence and the freedom to live on their terms.
Instead of living reactively, a financial plan enables you to plan proactively. It shows you where your money is going, how much you can save, and shines a light on where you’re heading. It will structure the chaos and give you the power to be deliberate in your decision-making.
From overwhelmed to in control
Melinda is a single mum juggling two young children and her small business. She was overwhelmed by making the family budget work, maintaining and growing her business, and paying the kids’ school fees. Having a savings plan for a new car, a family holiday, or thinking about retirement was not on her radar. She kept herself awake, wondering if she had enough insurance and what she would do financially in the case of an emergency.
Her story is not isolated. Sitting down with a financial planner can clear away the baggage. Together, they mapped out:
- A budget and clear cash flow strategy, including paying down bad debt
- Set up an automated savings system and superannuation contributions
- Reviewed and updated her insurance
- Built a strategic and achievable plan to meet her immediate, medium, and long-term goals.
Twelve months later, Melinda felt back in control. She could see her debt reducing and her savings growing. The weight was slowly coming off. It was little steps, but over the journey and with regular check-ins, Melinda’s financial stability was assured, and she could confidently plan her retirement.
We discuss financial planning as a wealth-building tool, which it is. However, for many Australians, building wealth is a secondary consideration, as just getting through the week can be a pressure cooker. This is why having a financial advisor in your corner can be more than just money guidance.
Taking control of your finances is an act of self-care, and financial advisors are experts in helping you regain control and have the peace of mind that allows you to get on with what you do best.
If you’re ready to take control of your finances, call our office and speak to one of our financial advisors. Get the calm back in your life.
We can help
Step Up Financial Group, now AFPG, is a team of qualified financial specialists. Every year, we help hundreds of Australians create financial stability and resilience while building toward a confident retirement.
Contact us today for experienced, compassionate, and professional financial planning advice.