What to do if you’re stressed about money

This year has been tough on many people. If you’re at home, feeling stressed about money, what can you do? We have some tips to help.

Assess the situation

It’s easy to feel overwhelmed and avoid your money problems. Look at specific areas and work out what you’re feeling overwhelmed about.

Is it your lack of income? Your expenses? Your KiwiSaver account? Your job security? Write down these specific areas, it will help give you some clarity.

Cut down non-essential spending

In the meantime, cut down any extra spending you don’t have to do. This is something productive you can do, and can help save money too.

Talk to someone

Talking to someone is always a good idea. Sometimes it’s hard to discuss money problems with a partner, friend or family member, but there are experts who can help you. See below for people you can contact to talk about money.

What help and financial support is available during isolation?

There’s lots of free help available on government websites.

Avoid taking on debt

It might seem easy to sign up for a personal loan or increase your credit card. But if you struggle to pay it back, you can end up in a tough debt cycle. When you’re drowning in debt, it’s very hard to get out of it. Speak to the experts for alternatives to borrowing money.

Be wary about scams

Government agencies say scams and frauds exploiting the spread of coronavirus have been noted overseas and are expected to be seen in New Zealand. They may arrive in the form of an email, text, phone call or through social media. Find out more about Covid-19 scams.

Where to get help

0800 543 354 (0800 LIFELINE) or free text 4357 (HELP) (available 24/7)
• https://www.lifeline.org.nz/services/suicide-crisis-helpline
• YOUTHLINE: 0800 376 633
• NEED TO TALK? Free call or text 1737 (available 24/7)
• KIDSLINE: 0800 543 754 (available 24/7)
• WHATSUP: 0800 942 8787 (1pm to 11pm)
• DEPRESSION HELPLINE: 0800 111 757 or TEXT 4202

Published 15 December 2020

Pie Funds Management Limited is the issuer of the JUNO KiwiSaver Scheme. You can read our Product Disclosure Statement. This article is general in nature only and has not taken into account any particular person’s objectives or circumstances. We recommend you speak with an independent financial adviser. All content is correct at time of publication date.