Money worries have the biggest impact on New Zealanders mental wellbeing
If you’re worried about money right now you are not alone.
In November 2022, it was revealed that “concern about personal finances is now considered to be the biggest impact on New Zealanders’ mental wellbeing, likely related to the increased cost of living.”
Now we are in the Christmas and summer holiday season, which is one of the most challenging times of the year for everyone. There is help.
The Ipsos Global Advisor Study conducted a study of New Zealanders to understand our perceptions around mental health and wellbeing, as well as factors that impact it. The study is carried out regularly and throughout the years relationship problems have usually been the key contributor to the reduced mental wellbeing of Kiwi.
2022 is the first time respondents stated their finances had the greatest impact on their perceived mental wellbeing.
What can Debtfix do to improve my mental wellbeing?
When people first contact Debtfix they often feel very stressed, anxious, and out of control. However, when the Crew work with them they report significant improvements in how they feel about their mental wellbeing.
There is always a way to sort out money problems and Debtfix has numerous solutions to fix problem debt. Some are informal arrangements arranged between Debtfix clients and the organisations they owe money to, and others may be a legal agreement to pay off debts at an affordable rate over time. When appropriate, Debtfix can further reduce people’s stress by managing the communication with all the organisations a client owes money to, and the client only communicates with the Debtfix Crew.
The additional wrap-around support provided by the Crew reviews the person’s budget, income, and outstanding debts. The Crew can also refer people to other services that many New Zealanders are unaware of, including:
Financial support from Work and Income
What can I do if I am feeling overwhelmed?
It's ok to ask for help and never hesitate if you are concerned for someone or yourself. When life gets tough you are not alone.
If anyone is in immediate physical danger and there is an emergency – phone 111.
In crisis you can also go to nearest hospital emergency department (ED) or contact your local crisis team.
If this is not an emergency call or text 1737 to talk to a counsellor for free 24/7.
National Anxiety Helpline - 0800 ANXIETY Helpline (0800 269 4389).
Lifeline – 0800 543 354 (0800 LIFELINE) or free text 4357 (HELP)
Suicide Crisis Helpline – 0508 828 865 (0508 TAUTOKO)
Healthline – 0800 611 116
Samaritans – 0800 726 666
Debtfix Crew’s tips to stay chilled during Christmas and summer holidays
Christmas and the Kiwi summer holiday period can be stressful for many New Zealanders, especially when we feel like it should be a time full of happiness and joy.
End-of-year workloads, big bills for presents and food, and more time socialising with family or friends who we might not actually like, can create a sleigh-load of anxiety.
The Crew do some of these things to maintain their mental wellbeing.
Walk with nature. Notice the little things, like flowers in our native bush, which are often very small and hidden. Beach walks are also popular.
Connect with Papatūānuku. Māori are bound by the land, sea, and each other. Find a place to daydream under the peach trees, wander through the forest, or wiggle your toes in the grass.
Gratitude. Each day, give thanks to ao tukupū/the universe and all it provides.
Get sporty. Go sailing, swimming, skateboarding or play basketball, pickleball, or touch rugby. Whatever gets you out and having fun.
Get busy. Run some power tools to relax like a chainsaw, slasher or weed whacker.
Breathe. Make breathing exercises a daily ritual, especially just before bedtime to improve sleep.
Why are New Zealanders feeling low?
In November 2022, Centrix reported 75 per cent of businesses that provide loans or credit to New Zealanders had experienced higher arrears in October compared to September 2022. Just over 11 per cent of Kiwi are behind on their debt repayments, with 4.2 per cent more than a month overdue.
Also, Black Friday and Christmas led to more organisations enquiring about buy now, pay later options. Very simplistically – many of us are not paying our bills and loans and businesses are busy looking for more ways to offer us loans.
Of course, the high cost of living is also an issue for many New Zealanders.
Amanda Dudding, research director, public affairs, Ipsos New Zealand says; “The cost-of-living crisis is adding pressure into the lives of New Zealanders every day. From the Ipsos Issues Monitor we know that inflation/cost of living is the number one issue our country is facing. This survey shows it’s not only taking a toll on our wallets, but also on our mental health. Finances now have the biggest effect on our mental wellbeing.”
The Debtfix Crew understand the daily struggles and they know they can find good solutions for problem debt to turn around the lives of New Zealanders. A quick chat may be all you need to make your Christmas better and relieve your mental wellbeing.