Flourish Health & Wellbeing eMag - Latest Edition - Flipbook - Page 43
Why do people feel financial pressure during
this time of year?
In Australia, particularly, the holiday season is the start of
summer break. That’s six whole weeks when many are off
work and school. We may need to keep our kids
entertained, as well as ourselves, which can lead to financial
pressures—because, sadly, not everything in life is free.
Similarly, the holiday season can also involve the tradition of
buying gifts for others. Some may feel pressured to buy
expensive gifts during this time because we may think gifts
of grandeur demonstrate a greater love for those closest to
us. This is particularly true during Christmas-time
advertising, where brands push their latest and best
offerings, which can sometimes come with a hefty price tag.
There is also the mounting pressure created by the cost-ofliving crisis, which can compound all of these points.
In a 2023 study, The Research Society indicated that 38% of
Aussies had financial concerns due to the pressures
associated with Christmas and December. Equally, a
Salvation Army 2021 study found that 83% of Australia’s
hardest hit struggled to afford Christmas presents and that
10.5 million Aussies are highly stressed about their
December finances. When people are faced with this
financial burden, it can place significant strain on their
mental wellbeing.
What financial pressures can do to our mental
wellbeing
According to our Converge experts, some people who are
concerned about their finances are more likely to:
Argue with family and friends about money.
Have trouble sleeping.
Experience greater mood swings.
Withdraw and become solitary.
Eat less but crave more unhealthy foods.
Spending guilt.
