Many Australians have, at one point or another, experienced anxiety or stress related to money. In fact, a 2015 study from the Australian Psychological Society found financial issues were the leading cause of stress for one in two Australians over five years of surveys.

For some, this can go beyond the occasional bout of worry. According to the Australian Government’s Head to Health service, mental health and financial safety are “strongly linked”; experiencing a mental illness can add to financial stresses, and financial stresses can add to a mental illness.

So, just like it’s important to visit your GP for a regular check up of your physical and mental wellbeing, it’s also important to take stock of your financial wellbeing every so often.

What is financial wellbeing?

Financial wellbeing or wellness can be broadly defined as:

A state of being healthy, happy, and free from any financial worries and stressors

Being able to live your desired lifestyle for the rest of your life without financial anxiety or fear

Having a clear understanding of your financial situation and having the ability to live within your means

How to take stock of your financial wellbeing

Make (or review) your budget and your money habits

First things first: if you don’t have a budget, it’s important to make a budget. While you may have a general idea of where your money’s coming from and where it’s going, a budget can help you put goals in place and stay on track to achieve them.

If you already have a budget, you should take the time to review it every so often. It’s easy to get lax after a while, so it’s important to ensure that your income is up to date and all your expenses are accounted for – maybe you’ve finished paying off your car, but have started paying school fees, for example.

It may also be worthwhile assessing your money habits and whether there are any that perhaps aren’t serving you well. Maybe you’ve started using the tap-and-go payment feature on your smartphone, for example, leading you to spend at times when you previously wouldn’t have because you didn’t bring your wallet with you.

Book a session with a Super Adviser

Here at Qantas Super, we believe the way to get control of your financial future and wellbeing is through expert advice.

As a member, you get access to a range of advice options at no additional cost. Whether you prefer to discuss your super in person, over the phone, or learn some tips and tricks online, we’re here to help you.

A Super Adviser can help you review your Qantas Super, and help you put a plan in place to achieve your retirement goals.

Simple steps to help keep you on track

When to review your investment options

Super is a long-term investment, but it’s still important to make sure you think about where and how your super is invested every so often by reviewing your investment options.

How to take care of your super during a career break

Though your super might be the last thing on your mind when you’re planning your stint away from the daily grind, it’s important to make sure it will still be working for you while you’re away.

How to grow your super and achieve your other financial goals

Retirement is usually decades away, while the mortgage needs to be paid now – but your immediate goals and your retirement goals don’t have to be mutually exclusive. It may not take much to achieve both.

Five things to think about when you have a big life moment

From getting a ‘grown up’ job to moving out and more, life’s big Kodak moments just keep coming as you get older. There are a few things to tick off the super to-do list when they do.

Learn online

Want to learn more about your super? Browse our Learning Hub to better understand your super and the simple steps you can take to stay in control.

Attend a seminar

Our seminars are designed to help if you just want to understand the basics, are looking to grow and secure your money, or find out what your super insurance can do for you when you need it most.