Financial Advice: The Key to Overcoming Financial Stress in Your Life

Daniel Brown

Financial ExpertUpdated on June 20, 2023

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Don’t Let Financial Worries Overwhelm You – Get the Right Advice to Simplify Your Financial Problems and Stress Less 

Financial stress is one of the most common forms of stress that Australians experience in their daily lives, which can have devastating impacts on your mental and physical health.

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Key To Overcoming Financial Stress in Your Life

Are you experiencing financial stress? If you spend the majority of your free time worrying about money concerns and spending habits, rather than enjoying your free time with family and friends, you may be experiencing financial stress.

Financial concerns can feel overwhelming and are incredibly common amongst Aussies in their 30s and 40s. While common, it doesn’t have to be an overwhelming and impossible situation, you just need help to manage your money issues and improve your financial stability so you can live the life you deserve and stress less — the key is to get financial advice from a qualified professional. 

Financial Stress is the #1 Cause of Stress in Australia

Results of the Australian Psychological Society’s (APS) Stress and wellbeing in Australia survey (2015) have shown that: 

  • Personal finances clinched the top spot as the cause of stress among Aussies (49%)
  • Followed by family issues (45%)
  • Personal health came in at a close third(44%)
  • Trying to maintain a healthy lifestyle was a significant stress factor as well (40%), as was…
  • Issues with the health of others close to us (38%)
Top 5 causes of stress

What Does Financial Stress Do To Your Body?

Here’s the scary part — poor financial health actually does equal poor mental health and physical health. Stress due to money issues or financial pressures can overflow into other aspects of our lives, showing up as a range of physically and emotionally-related symptoms:

  • Arguing about money with those closest to you 
  • Trouble sleeping
  • Feeling afraid or furious 
  • Mood swings
  • Exhaustion
  • Muscle pain
  • Loss of appetite
  • Depression and/or anxiety
  • Withdrawal from others, and more!

In fact, Healthdirect Australia has said that “money worries are one of the main sources of stress in Australia, and can lead to relationship problems, depression or anxiety.”

Money Worries

Furthermore, the APS survey has reported that younger adults (age 18 to 25) consistently reported lower levels of wellbeing, “with personal finance issues, health issues and family issues as the top stressors across all age groups”.

Surviving a challenging period of financial stress that’s already having an adverse effect on your health and relationships is not a walk in the park, but it can be managed with the right help.

The best first step you can make towards improving your financial well-being and relieving stress financially is to speak to a financial adviser.

You may be thinking:

“I’m already up to my neck in debt, do I need another expense like having to pay for financial advice?”

This is a totally valid point, but here are two counterpoints for your to consider:

Firstly, a financial adviser’s fee is an expense, but it is also an investment. An expense is defined as ‘the money spent on something’, whereas an investment is ‘an asset, such as time, money, or effort, acquired to generate income or value’. While seeking assistance from a financial adviser entails spending money, an adviser’s fee should be considered an investment, rather than a cost, because it will help generate a return on investment (ROI) for you.

Secondly, there are ways for you to find out if the cost of working with a financial advisor will be worth it for you, as many will offer a free initial consultation to get to know you, your financial situation and specific circumstances, and if they believe they can you or not – in this case, you have nothing to lose and a lot to gain. Additionally, there are also financial advisors offering affordable financial advice.

How a Financial Adviser Can Simplify Your Money Decisions to Help You Achieve Your Finance Goals

There may be tons of personal finance tips and tricks online, but they’re inherently lacking in one VERY important thing: a step-by-step blueprint that is tailored to meet your specific needs. This level of guidance is something you can only get from engaging a professional, so why not invest in sound advice from a qualified financial adviser who can help get your finances in better shape than you ever thought possible?

An experienced financial adviser will work with you and consider your entire situation as well as any special circumstances. Based on this information, they will create a financial plan specifically for you to safeguard your interests, your assets, and your loved ones while assisting you in achieving your short-term and long-term goals.

You can get help from a financial adviser to:

  • Pay off your mortgage more quickly
  • Spend less while building your wealth
  • Increase your super balance using tax-efficient methods
  • Safeguard your income
  • Build a portfolio of investments
  • Give your children a head start by helping secure their future

Choosing a Financial Advisor

Working with a financial adviser to develop a tailored plan for you and your family will keep you moving in the right direction for meeting your financial goals. However, not all financial advisers are created equal, and choosing the right advisor – one that you trust and feel comfortable with – is critical to your financial well-being.

To know if a financial adviser is the best fit to assist you in achieving your goals, ask these questions:

  1. What sort of financial education do you offer to your clients?
  2. What type of continuing education do you pursue on your own?
  3. What queries do you pose to your clients?
  4. How much will it ultimately cost a client?
  5. Do you provide clients with advice using a checklist-driven process?

Also, be wary of these red flags:

  • The adviser who will be handling your funds has conflicts of interest
  • The advisory firm is owned by the same business managing the accounts and assets
  • You are treated like a statistic, a score that can add up to their client portfolio and profit margin

So, how will you know if a financial adviser is the right fit for you?

  1. The adviser is committed to your financial well-being demonstrated through transparency and helping to improve your financial literacy.
  2. The adviser values the adviser-client relationship which they demonstrate by getting to know you and your unique circumstances before trying to advise you.

Experiencing Financial Stress? Not sure where to start? Contact My Money Sorted

Many people may be unaware of this, but just like you, 41% of Aussies have said they intend to get financial advice, according to an Australian Securities and Investments Commission (ASIC) report.

What if you could tap into the wisdom of an experienced financial adviser instead of taking the all too common ‘hit-and-hope’ approach?  

Many people may be unaware of this…but just like you, 41% of Aussies intend to get financial advice rather than going it alone, according to an Australian Securities and Investments Commission (ASIC) report.

Find the right Financial Adviser for you with the help of My Money Sorted 

When you book a call with My Money Sorted, you’ll:

✓ get a better understanding of your money matters

✓ have an idea of the experts you can call on to help you reach your goals

✓ be matched with the right financial adviser who can help simplify your family’s journey to financial wellness  

My Money Sorted is your stress-free pathway to getting ahead with your money. Here’s what your journey will look like:

Step 1: Start off with a quick money matters session with your My Money Sorted

Step 2: Get matched with a licensed Finance Adviser that’s right for your money situation

Step 3: Take the first step towards your money goals with a clear and sound roadmap prepared by an experienced Financial Adviser

It’s that easy!


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