Master your money, master your mood: RACQ Bank

New research by Financial Counselling Australia has revealed those seeking free financial counselling support were also more likely to report mental health issues.

RACQ Bank spokesperson Lucinda Ross said the findings were concerning but not surprising, given nearly a quarter of Queenslanders had asked for support with their personal finances.

“It’s incredibly saddening to hear just how many challenges Australians are facing right now, between a pandemic and a recession, it’s no wonder so many of us are finding it hard to cope,” Ms Ross said.

“This is why we’re proud to support Financial Counselling Australia and Beyond Blue’s campaign to encourage any Australian struggling with their finances to reach out and seek help now.

“If this is you, call the National Debt Helpline on 1800 007 007 for free, confidential and expert help with your finances.”

Ms Ross said the important service would be a life changer for the many Australians experiencing financial stress.

“We know millions of Aussies are out of work right now and losing that sense of responsibility and purpose can have a huge toll on your mental health,” she said.

“If you’re worried about how you’re going to cope now or in the months to come, reach out to the National Debt Helpline today.”

For more information about the Money On Your Mind campaign, visit this website.

For more information about managing your financial wellbeing, visit RACQ’s Financial Wellbeing Hub.