Flourish eMag Dec 24 - final - Flipbook - Page 29
Why do people feel financial pressure
during this time of year?
What financial pressures can do to
our mental wellbeing
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
pressures4because, sadly, not everything
in life is free.
According to our Converge experts, some
people who are concerned about their
finances are more likely to:
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 costof-living 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.
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.
These emotions can also be compounded
by other factors, such as drugs and
alcohol that some may use to cope with
their stress 3 according to Health Direct
Australia. In addition, HDA says pressures
during the holiday season can also lead to
relationship breakdowns, depression and
anxiety.
Exercises to help you minimise the
impact on your mental health
There are a number of exercises you can
do to support your mental wellbeing
during the holiday season. While this time
of year can be joyful, it’s helpful to
acknowledge our emotions and financial
pressures.
