Search

Placeholder Content Image

Financial hardship is the biggest driver of loneliness. Here’s why – and how to tackle it

<div class="theconversation-article-body"><em><a href="https://theconversation.com/profiles/michelle-h-lim-176472">Michelle H Lim</a>, <a href="https://theconversation.com/institutions/university-of-sydney-841">University of Sydney</a></em></p> <p>One in four Australians <a href="https://lonelinessawarenessweek.com.au/wp-content/uploads/2024/08/why-we-feel-lonely.pdf">report</a> feeling lonely, according to our new report released this week from our research collaboration.</p> <p>The data builds on a large <a href="https://endingloneliness.com.au/wp-content/uploads/2023/10/ELT_LNA_Report_Digital.pdf">study we conducted last year</a> on social connection. Together, the data show that once someone <a href="https://endingloneliness.com.au/wp-content/uploads/2023/10/ELT_LNA_Report_Digital.pdf">becomes lonely</a>, they’re likely to stay lonely.</p> <p>Feeling lonely can have a <a href="https://endingloneliness.com.au/wp-content/uploads/2023/10/ELT_LNA_Report_Digital.pdf">negative impact on your health</a>. It increases the chance of having <a href="https://pubmed.ncbi.nlm.nih.gov/27124713/">social anxiety and depression</a>, and impacts the <a href="http://dx.doi.org/10.1037/0022-3514.85.1.105">health of your heart</a>, your <a href="http://pss.sagepub.com/content/13/4/384.full.pdf">sleep</a> and levels of <a href="https://pubmed.ncbi.nlm.nih.gov/15041083/">inflammation</a>. It also increases the likelihood of an <a href="https://www.ncbi.nlm.nih.gov/pubmed/?term=Loneliness+and+Social+Isolation+as+Risk+Factors+for+Mortality%3A+A+Meta-Analytic+Review">earlier death</a>. Staying lonely can accelerate these <a href="https://pubmed.ncbi.nlm.nih.gov/31237442/">negative impacts</a>.</p> <p>As more Australians grapple with a cost-of-living crisis, a key driver of loneliness is financial hardship.</p> <h2>Am I lonely?</h2> <p>Loneliness is a negative feeling that arises when your <a href="https://www.gilc.global/_files/ugd/410bdf_62e236db3a7146cd9f2654877a87dbc6.pdf">social needs are not met</a> by the relationships you hold. So you can feel alone, even if you’re surrounded by others, if you’re not getting the right kind of company and support.</p> <p>This might mean you feel, to a certain extent, that:</p> <ul> <li>you are not “in tune” with others</li> <li>your relationships are not meaningful</li> <li>you do not belong</li> <li>you do not have a group of friends</li> <li>no one understands you</li> <li>you do not have shared interests with others</li> <li>there is no one you can turn to.</li> </ul> <p>Not all of these may relate to you and you may experience these in varying degrees.</p> <h2>What drives loneliness?</h2> <p>We <a href="https://endingloneliness.com.au/wp-content/uploads/2023/10/ELT_LNA_Report_Digital.pdf">found</a> particular communities were more at risk of persistent loneliness:</p> <ul> <li>those aged 18 to 24</li> <li>people from culturally and linguistically diverse backgrounds</li> <li>people who were single or divorced</li> <li>those with a chronic disease</li> <li>those with mental ill health.</li> </ul> <p>But the largest effect we found, even after we accounted for all other possible contributing factors, is the impact of financial hardship.</p> <p>People who face financial hardship were almost seven times more likely to report persistent loneliness, and almost five times more likely to report persistent social isolation, compared with people who did not face financial hardship.</p> <p>This aligns with other studies that link economic hardships to <a href="https://pubmed.ncbi.nlm.nih.gov/33241698/">poor health</a>.</p> <p>In <a href="https://pubmed.ncbi.nlm.nih.gov/37761396/">children from low-income backgrounds</a>, for example, their family’s economic hardship is one of the main factors that negatively impacts their physical and psychological health.</p> <p>In a large <a href="https://www.sciencedirect.com/science/article/pii/S0277953622004282?via%3Dihub">study</a> using the UK Biobank, people who are from a lower economic background had a higher probability of reporting loneliness.</p> <p>In <a href="https://pubmed.ncbi.nlm.nih.gov/37528108/">Australia</a>, when compared with people on incomes more than A$150,000, those with incomes under $80,000 were 49% more likely to experience loneliness in one year and 66% more likely to report loneliness in at least two consecutive years.</p> <h2>Being poor affects how we interact with others</h2> <p>Factors such as income and your living environment are some of the <a href="https://www.who.int/health-topics/social-determinants-of-health#tab=tab_1">social determinants of health</a>, which influence our health outcomes.</p> <p>However, to date, little has been done to examine exactly how the lack of financial resources negatively affects the way we interact with others. There are two plausible scenarios.</p> <p>First, having financial pressures may change the way we feel and relate to others due to higher stress levels.</p> <p>Second, financial pressures may stop us from socialising because we have to take on more work to earn more money or we try to cut costs to save money. Socialising can be free in some circumstances, but most of the time, there is a cost to getting to places, or doing an activity together.</p> <h2>What can we do as a society?</h2> <p>The <a href="https://news.gallup.com/opinion/gallup/512618/almost-quarter-world-feels-lonely.aspx">high prevalence of loneliness across the world</a> – and the growing scientific evidence of the negative impact on our health, wellbeing and productivity, and subsequently the economy – can no longer be ignored.</p> <p>The World Health Organization is repositioning loneliness as a global public health priority and has established a <a href="https://www.who.int/groups/commission-on-social-connection">Commission on Social Connection</a>. This commission aims to set the global agenda for social connection, work with high-level commissioners to make the case for global action, scale up proven solutions and measure progress.</p> <p>We need to start by building a <a href="https://lonelinessawarenessweek.com.au/wp-content/uploads/2024/08/How-can-we-create-a-culture-of-connection.pdf">culture of connection</a> in Australia. This means changing the way we make decisions on how we relate to each other, promoting social connection within our schools, workplaces and communities. And to modify policies to allow us to start and maintain healthy social connections.</p> <p>Health and social policies to address loneliness and social isolation have to consider the impact of low incomes and increased financial pressures as barriers to building and maintaining meaningful social connection.</p> <p>Related to this is urban planning. People require safe and no- or low-cost spaces to interact in and to start and maintain relationships. This includes parks, libraries, public squares, community gardens and neighbourhood houses.</p> <p>Cuts to building or maintaining these spaces will stop people from interacting, gathering, or socialising within their community.</p> <p>Not addressing loneliness effectively or quickly will lead us to persistent loneliness and to potentially more distress.</p> <h2>How to connect if you’re financially pressured</h2> <p>Don’t feel alone in this experience. Let your family or friends know that you are financially pressured. Chances are, they are experiencing the same pressures because of the rise in the cost of living.</p> <p>Select no- or low-cost activities such as walking in the park with a friend, or connecting on the phone. Look for free events offered in your local area and city.</p> <p>Consider having meals at home as opposed to going out, or low-cost food options. Find some digital spaces which can allow you to interact with others in shared interest topics.</p> <p>If someone shares they are feeling lonely, asking “is there anything I can do to help?” facilitates the conversation and lets others know you are there without judgement.</p> <hr /> <p><em>If this article has raised issues for you, or if you’re concerned about someone you know, you can call Lifeline on 13 11 14.</em><!-- Below is The Conversation's page counter tag. Please DO NOT REMOVE. --><img style="border: none !important; box-shadow: none !important; margin: 0 !important; max-height: 1px !important; max-width: 1px !important; min-height: 1px !important; min-width: 1px !important; opacity: 0 !important; outline: none !important; padding: 0 !important;" src="https://counter.theconversation.com/content/236135/count.gif?distributor=republish-lightbox-basic" alt="The Conversation" width="1" height="1" /><!-- End of code. If you don't see any code above, please get new code from the Advanced tab after you click the republish button. The page counter does not collect any personal data. More info: https://theconversation.com/republishing-guidelines --></p> <p><em><a href="https://theconversation.com/profiles/michelle-h-lim-176472">Michelle H Lim</a>, Associate Professor of Psychology, <a href="https://theconversation.com/institutions/university-of-sydney-841">University of Sydney</a></em></p> <p><em>Image credits: Shutterstock </em></p> <p><em>This article is republished from <a href="https://theconversation.com">The Conversation</a> under a Creative Commons license. Read the <a href="https://theconversation.com/financial-hardship-is-the-biggest-driver-of-loneliness-heres-why-and-how-to-tackle-it-236135">original article</a>.</em></p> </div>

Money & Banking

Placeholder Content Image

How financial hardship is bad for our health

<p>Australia is <a href="https://www.theguardian.com/news/datablog/ng-interactive/2022/jul/27/cost-of-living-australia-price-changes-inflation-2022-sydney-melbourne-brisbane-interactive-data-explorer-june-quarter" target="_blank" rel="noopener">facing a cost-of-living crisis</a>. Rising costs of rent, fuel, food and power have increased financial stress for many households.</p> <p>While financial pressures are now being felt by a broader section of society, for many Australians, such pressures are constant.</p> <p>The health costs of such socioeconomic disadvantage are startling. A <a href="https://www.aihw.gov.au/reports/burden-of-disease/abds-impact-and-causes-of-illness-and-death-in-aus/summary" target="_blank" rel="noopener">2021 report</a> found the most disadvantaged 20% of Australians die four to six years earlier than the least disadvantaged.</p> <p>One-fifth of the country’s ill-health would be avoided if everyone enjoyed the same socioeconomic circumstances as the top 20%. Internationally, more equal societies enjoy <a href="https://equalitytrust.org.uk/resources/the-spirit-level" target="_blank" rel="noopener">better overall health</a>.</p> <p>So how does financial hardship damage health? And what can we do about it?</p> <p><strong>Shorter lives with more disease</strong></p> <p><a href="https://www.who.int/publications/i/item/WHO-IER-CSDH-08.1" target="_blank" rel="noopener">People</a> in poorer socioeconomic circumstances <a href="https://www.aihw.gov.au/reports/australias-health/health-across-socioeconomic-groups" target="_blank" rel="noopener">do worse</a> across almost all health measures. This includes life expectancy, non-communicable diseases (such as heart disease, diabetes), injuries, and as we’ve seen in the COVID pandemic, infectious diseases.</p> <p>Compared to wealthier Australians, those who are <a href="https://www.aihw.gov.au/reports/burden-of-disease/abds-impact-and-causes-of-illness-and-death-in-aus/summary" target="_blank" rel="noopener">worst-off</a> carry a health burden 40% higher for anxiety, twice as high for heart disease and more than twice as high for diabetes.</p> <p>Poor outcomes in disadvantaged groups are due to a mix of higher exposure to negative risk factors for health (environmental and occupational hazards, tobacco) and poorer access to positive factors (healthy food, preventative care, autonomy to make decisions for yourself and your family) than the broader population.</p> <p>These disparities come about through disempowerment, social discrimination and disadvantage.</p> <p>Poor health can also perpetuate financial hardship through reduced access to education, employment, and other key social resources, leading to a vicious cycle.</p> <p><strong>Financial hardship is bad for families, especially children</strong></p> <p>Households under financial stress have difficulty paying for essentials such as rent, food, clothing and heating. While they spend less in dollar terms on these items, expenditure on essentials accounts for a <a href="https://www.abs.gov.au/statistics/economy/finance/household-expenditure-survey-australia-summary-results/latest-release#financial-stress-and-spending" target="_blank" rel="noopener">greater proportion</a> of their total household income. This leaves people with less control over their wellbeing and quality of life.</p> <p>Households experiencing socioeconomic disadvantage are also at increased risk of family disruption, stigma and domestic violence. The <a href="https://www.aihw.gov.au/reports/burden-of-disease/abds-impact-and-causes-of-illness-and-death-in-aus/summary" target="_blank" rel="noopener">health burden</a> of intimate partner violence is two-and-a-half times higher in the poorest 20% compared with the most advantaged 20% of households.</p> <figure class="align-center "><img src="https://images.theconversation.com/files/491558/original/file-20221025-15-7q31vn.jpg?ixlib=rb-1.1.0&amp;q=45&amp;auto=format&amp;w=754&amp;fit=clip" sizes="(min-width: 1466px) 754px, (max-width: 599px) 100vw, (min-width: 600px) 600px, 237px" srcset="https://images.theconversation.com/files/491558/original/file-20221025-15-7q31vn.jpg?ixlib=rb-1.1.0&amp;q=45&amp;auto=format&amp;w=600&amp;h=425&amp;fit=crop&amp;dpr=1 600w, https://images.theconversation.com/files/491558/original/file-20221025-15-7q31vn.jpg?ixlib=rb-1.1.0&amp;q=30&amp;auto=format&amp;w=600&amp;h=425&amp;fit=crop&amp;dpr=2 1200w, https://images.theconversation.com/files/491558/original/file-20221025-15-7q31vn.jpg?ixlib=rb-1.1.0&amp;q=15&amp;auto=format&amp;w=600&amp;h=425&amp;fit=crop&amp;dpr=3 1800w, https://images.theconversation.com/files/491558/original/file-20221025-15-7q31vn.jpg?ixlib=rb-1.1.0&amp;q=45&amp;auto=format&amp;w=754&amp;h=534&amp;fit=crop&amp;dpr=1 754w, https://images.theconversation.com/files/491558/original/file-20221025-15-7q31vn.jpg?ixlib=rb-1.1.0&amp;q=30&amp;auto=format&amp;w=754&amp;h=534&amp;fit=crop&amp;dpr=2 1508w, https://images.theconversation.com/files/491558/original/file-20221025-15-7q31vn.jpg?ixlib=rb-1.1.0&amp;q=15&amp;auto=format&amp;w=754&amp;h=534&amp;fit=crop&amp;dpr=3 2262w" alt="Child draws with crayons" /><figcaption><span class="caption">Poorer families experience more disruption than wealthier families.</span> <span class="attribution"><a class="source" href="https://unsplash.com/photos/1zR3WNSTnvY">Aaron Burden</a>, <a class="license" href="http://creativecommons.org/licenses/by/4.0/">CC BY</a></span></figcaption></figure> <p>Financial hardship is particularly bad for children. Despite former Prime Minister Bob Hawke’s <a href="https://theconversation.com/we-asked-children-how-they-experienced-poverty-here-are-6-changes-needed-now-180567" target="_blank" rel="noopener">declaration</a> that “by 1990, no Australian child will be living in poverty”, around <a href="https://www.google.com/url?sa=t&amp;rct=j&amp;q=&amp;esrc=s&amp;source=web&amp;cd=&amp;cad=rja&amp;uact=8&amp;ved=2ahUKEwjG_fCh5N76AhUs2HMBHZQ3ABkQFnoECAsQAQ&amp;url=https%3A%2F%2Fpovertyandinequality.acoss.org.au%2Fwp-content%2Fuploads%2F2020%2F02%2FPoverty-in-Australia-2020_Part-1_Overview.pdf&amp;usg=AOvVaw0_EUG07PIsyiun4LTEWvj2" target="_blank" rel="noopener">one in six</a> still do. This impacts their access to food, security and social participation.</p> <p>It also has <a href="https://aifs.gov.au/research/family-matters/no-93/early-childhood-poverty-and-adult-achievement-employment-and-health" target="_blank" rel="noopener">lifelong effects</a> on their health and wellbeing, making it more likely they will experience financial hardship as adults, thus perpetuating the cycle of poverty.</p> <p><strong>Poor communities lack access to resources to improve their health</strong></p> <p>Socioeconomic disadvantage is often concentrated in particular communities, where social and environmental factors can <a href="https://aifs.gov.au/resources/policy-and-practice-papers/what-community-disadvantage-understanding-issues-overcoming" target="_blank" rel="noopener">further compromise health</a>.</p> <p>Loss of employment opportunities, limited public services and infrastructure such as transport are often exacerbated by political neglect and geographic disparities in local government resources. This is partly captured in Australia’s stark regional health inequalities: people in regional and remote areas are more likely to have <a href="https://www.aihw.gov.au/reports/burden-of-disease/abds-impact-and-causes-of-illness-and-death-in-aus/summary" target="_blank" rel="noopener">heart disease, kidney disease and injuries</a>.</p> <p>While many communities respond to these challenges, long-term community health requires support from the wider society. This includes a commitment to listen and respond to local needs and priorities, address historical injustices (particularly for Indigenous communities), and invest in sustainable <a href="https://aifs.gov.au/resources/practice-guides/what-community-development" target="_blank" rel="noopener">community development</a>.</p> <p><strong>So what can we do about it?</strong></p> <p>Financial hardship is a structural problem, so tackling it is a daunting challenge, particularly in the current economic climate. But <a href="https://journals.sagepub.com/doi/full/10.1177/14034948211022428" target="_blank" rel="noopener">international evidence shows</a> it is possible to reduce socioeconomic inequalities and improve health through collective action.</p> <p>Such efforts require a commitment to “levelling up” society <a href="https://journals.sagepub.com/doi/full/10.1177/14034948211022428" target="_blank" rel="noopener">by</a> expanding welfare, improving public services, and ensuring the political participation of disadvantaged groups.</p> <p>As the link between poverty and health is related to disempowerment, to counter the effect, we need to empower people. This means listening to those experiencing poverty and disadvantage to understand their needs and including them in decision-making.</p> <figure class="align-center "><img src="https://images.theconversation.com/files/491560/original/file-20221025-18-g16smr.jpg?ixlib=rb-1.1.0&amp;q=45&amp;auto=format&amp;w=754&amp;fit=clip" sizes="(min-width: 1466px) 754px, (max-width: 599px) 100vw, (min-width: 600px) 600px, 237px" srcset="https://images.theconversation.com/files/491560/original/file-20221025-18-g16smr.jpg?ixlib=rb-1.1.0&amp;q=45&amp;auto=format&amp;w=600&amp;h=400&amp;fit=crop&amp;dpr=1 600w, https://images.theconversation.com/files/491560/original/file-20221025-18-g16smr.jpg?ixlib=rb-1.1.0&amp;q=30&amp;auto=format&amp;w=600&amp;h=400&amp;fit=crop&amp;dpr=2 1200w, https://images.theconversation.com/files/491560/original/file-20221025-18-g16smr.jpg?ixlib=rb-1.1.0&amp;q=15&amp;auto=format&amp;w=600&amp;h=400&amp;fit=crop&amp;dpr=3 1800w, https://images.theconversation.com/files/491560/original/file-20221025-18-g16smr.jpg?ixlib=rb-1.1.0&amp;q=45&amp;auto=format&amp;w=754&amp;h=503&amp;fit=crop&amp;dpr=1 754w, https://images.theconversation.com/files/491560/original/file-20221025-18-g16smr.jpg?ixlib=rb-1.1.0&amp;q=30&amp;auto=format&amp;w=754&amp;h=503&amp;fit=crop&amp;dpr=2 1508w, https://images.theconversation.com/files/491560/original/file-20221025-18-g16smr.jpg?ixlib=rb-1.1.0&amp;q=15&amp;auto=format&amp;w=754&amp;h=503&amp;fit=crop&amp;dpr=3 2262w" alt="Road with lots of cars" /><figcaption><span class="caption">Reducing inequality – including providing better public transport options – can improve health outcomes in lower socioeconomic groups.</span> <span class="attribution"><a class="source" href="https://unsplash.com/photos/coFDSpl9DA8">Sandy Ravaloniaina/Unsplash</a></span></figcaption></figure> <p>Australia’s response to the COVID pandemic shows it is possible to mobilise resources and political will in the face of a public health crisis. In 2020, the Australian government <a href="https://www.theguardian.com/australia-news/2020/jul/21/jobseeker-payment-economists-on-why-its-dangerous-to-cut-covid-19-welfare-subsidy" target="_blank" rel="noopener">temporarily increased</a> the unemployment benefit from its base rate (<a href="https://melbourneinstitute.unimelb.edu.au/__data/assets/pdf_file/0008/4288661/Poverty-Lines-Australia-June-2022.pdf" target="_blank" rel="noopener">46% below the poverty line</a>) – an implicit admission these payments were inadequate.</p> <p>While poverty in Australia fell during the first two years of the pandemic, it has <a href="https://povertyandinequality.acoss.org.au/covid-inequality-and-poverty-in-2020-and-2021/" target="_blank" rel="noopener">increased again</a> as income supports have been phased out. Australia <a href="https://www.google.com/url?sa=t&amp;rct=j&amp;q=&amp;esrc=s&amp;source=web&amp;cd=&amp;cad=rja&amp;uact=8&amp;ved=2ahUKEwizj5Hi0d76AhXOJrcAHU5XCnAQFnoECCoQAQ&amp;url=https%3A%2F%2Ftaxpolicy.crawford.anu.edu.au%2Fsites%2Fdefault%2Ffiles%2Fuploads%2Ftaxstudies_crawford_anu_edu_au%2F2018-12%2Fcombined_pdf_whiteford_trends_in_soc_sec_spending_2017.pdf&amp;usg=AOvVaw3rLfo9h0WW7D7vTf1aIfD4" target="_blank" rel="noopener">spends less</a> on welfare than most high-income OECD countries and our <a href="https://www.emerald.com/insight/content/doi/10.1108/S1049-258520200000028002/full/html">taxes</a> are spread less equitably. There is plenty of scope to improve this inequality by <a href="https://povertyandinequality.acoss.org.au/poverty/" target="_blank" rel="noopener">lifting benefit levels permanently</a> to keep Australians out of poverty.</p> <p>The health costs of financial hardship and inequality constitute a public health crisis, one that requires a collective commitment to “levelling up” society: the quintessentially Australian value of giving everyone a “fair go”.</p> <p>The good news is, we have the tools to do this and the evidence to show it works – even in times of economic difficulty. Let’s make this a priority, for the sake of everyone’s health.</p> <p><em>Writen by Edward Jegasothy. Republished with permission from <a href="https://theconversation.com/disempowered-shut-off-and-less-able-to-afford-healthy-choices-how-financial-hardship-is-bad-for-our-health-192241" target="_blank" rel="noopener">The Conversation</a>.</em></p> <p><em><!-- Below is The Conversation's page counter tag. Please DO NOT REMOVE. -->Image: Getty Images<img style="border: none !important; box-shadow: none !important; margin: 0 !important; max-height: 1px !important; max-width: 1px !important; min-height: 1px !important; min-width: 1px !important; opacity: 0 !important; outline: none !important; padding: 0 !important;" src="https://counter.theconversation.com/content/192241/count.gif?distributor=republish-lightbox-basic" alt="The Conversation" width="1" height="1" /></em><!-- End of code. If you don't see any code above, please get new code from the Advanced tab after you click the republish button. The page counter does not collect any personal data. More info: https://theconversation.com/republishing-guidelines --></p>

Money & Banking

Placeholder Content Image

Coronavirus: The plans to save Australians from financial hardship

<p><span>A larger economic “safety net”, including mortgage and income guarantee schemes, is being considered as calls mounted for the Coalition government to safeguard businesses and households from financial hardship amid the coronavirus outbreak.</span></p> <p><span>Speaking at his press conference on Wednesday, Prime Minister Scott Morrison suggests a second round of economic stimulus in the form of a multibillion-dollar “safety net” package is in the works.</span></p> <p><span>Victorian premier Daniel Andrews later told reporters the federal government is considering guaranteeing mortgages, income and employment as well as “<a href="https://www.theguardian.com/world/2020/mar/19/australian-government-plans-coronavirus-safety-net-package-as-fresh-rate-cut-tipped">underwriting mortgages, potentially</a>”.</span></p> <p><span>“We have many businesses who have zero income. Offering them a tax cut doesn’t necessarily do it,” Andrews said.</span></p> <p><span>“If we are going to have some businesses close their doors, if we want to avoid them collapsing altogether and if we want to make sure they are there at the end of this virus, we need to be providing that sort of emergency capital, that sort of emergency cash. We are doing some work, we will have more to say about that.”</span></p> <p><span>The upcoming stimulus follows the $17.6 billion stimulus package launched last week in response to the pandemic.</span></p> <p><span>The Reserve Bank of Australia (RBA) is also tipped to announce an emergency rate cut on Thursday amid its contingency planning to offer <a href="https://www.afr.com/policy/economy/rba-plots-cheap-bank-loans-20200317-p54aw8">billions of dollars in cheap long-term loans to commercial banks</a>.</span></p> <p><span>Business groups and economists have urged the government to establish more measures to assist firms and workers amid pressure from social distancing measures.</span></p> <p><span>Businessman Tony Shepherd said employees should have their compulsory superannuation payments added into their pay packages for the next six months.</span></p> <p><span>“Employers pay compulsory superannuation. Why not freeze that for six months and give that money to wage earners so they get an instant pay increase?” he told <em>The Daily Telegraph</em>.</span></p> <p><span>The Australian Chamber of Commerce and Industry called on the government to provide Newstart-sized payments to businesses with a “material reduction in revenue either directly or indirectly attributable to COVID-19” to keep their workers employed.</span></p> <p><span>The Australian Industry Group said the government should improve access to income support by waiving waiting periods and assets and income tests for workers who have their hours reduced or lose their jobs.</span></p>

Money & Banking

Placeholder Content Image

Financial abuse: The important warning signs

<p><span style="font-weight: 400;">Domestic and family abuse has been a longstanding issue in Australia, with most attention going towards physical and sexual violence. However, abuse may also take subtler yet equally damaging forms. One example is financial abuse, which is expected to affect </span><a href="https://onlinelibrary.wiley.com/doi/full/10.1111/1753-6405.12651"><span style="font-weight: 400;">16 per cent of Australian women</span></a><span style="font-weight: 400;"> in their lifetime.</span></p> <p><span style="font-weight: 400;">Financial abuse can happen throughout the relationship or following a separation, and the severity may lead the affected person to go without food or permanent shelter.</span></p> <p><strong>What is financial abuse?</strong></p> <p><span style="font-weight: 400;">Financial abuse or economic abuse is when a person – be it a partner, parent, child, other family member, carer or a friend – uses money or other financial-related things such as property and jobs to hurt, intimidate or control you.</span></p> <p><span style="font-weight: 400;">According to the Family Law Act, financial abuse is included under the definition of family violence. Behaviours that may constitute abuse under </span><a href="http://www.familycourt.gov.au/wps/wcm/connect/fcoaweb/family-law-matters/family-violence/what-is-family-violence/"><span style="font-weight: 400;">this legislation</span></a><span style="font-weight: 400;"> include withholding support for a dependent family member or denying financial autonomy. </span></p> <p><strong>What are the signs of financial abuse?</strong></p> <p><span style="font-weight: 400;">You may be in a financially abusive relationship if the other person:</span></p> <ul> <li style="font-weight: 400;"><span style="font-weight: 400;">Controls your access to bank accounts, pay, or other money that is yours;</span></li> <li style="font-weight: 400;"><span style="font-weight: 400;">Forces, pressures or guilts you to give money to them or someone else;</span></li> <li style="font-weight: 400;"><span style="font-weight: 400;">Takes, sells or threatens to sell your property without your permission;</span></li> <li style="font-weight: 400;"><span style="font-weight: 400;">Takes out a loan under your name without your consent;</span></li> <li style="font-weight: 400;"><span style="font-weight: 400;">Forces or pressures you to sign documents such as credit applications, mortgages and more;</span></li> <li style="font-weight: 400;"><span style="font-weight: 400;">Insists that you pay for things you don’t want or need;</span></li> <li style="font-weight: 400;"><span style="font-weight: 400;">Forbids you from working;</span></li> <li style="font-weight: 400;"><span style="font-weight: 400;">Prevents you from working by restricting access to transport, phone, internet or more;</span></li> <li style="font-weight: 400;"><span style="font-weight: 400;">Refuses to pay for the things you need, such as food, medicine, rent and more.</span></li> </ul> <p><span style="font-weight: 400;">According to </span><a href="https://www.moneysmart.gov.au/life-events-and-you/families/financial-abuse"><span style="font-weight: 400;">MoneySmart</span></a><span style="font-weight: 400;">, older people may be more at risk of financial abuse due to their increasing dependence on family members or carers. You may be experiencing elder financial abuse if someone:</span></p> <ul> <li style="font-weight: 400;"><span style="font-weight: 400;">Forces you to change your will;</span></li> <li style="font-weight: 400;"><span style="font-weight: 400;">Pressures you to appoint them as your enduring power of attorney;</span></li> <li style="font-weight: 400;"><span style="font-weight: 400;">Forges your signature or credentials on documents;</span></li> <li style="font-weight: 400;"><span style="font-weight: 400;">Does not pay your bill when they have been designated to do this for you;</span></li> <li style="font-weight: 400;"><span style="font-weight: 400;">Withholds or restricts access to your letters and bills;</span></li> <li style="font-weight: 400;"><span style="font-weight: 400;">Isolates you from family and friends to get you to do what they want.</span></li> </ul> <p><span style="font-weight: 400;">Financial abuse often comes with other forms of abuse, including physical abuse, emotional abuse and neglect.</span></p> <p><strong>What to do</strong></p> <p><span style="font-weight: 400;">Ending a financially abusive relationship can be difficult, as victims are often stripped of the resources needed to leave. Seeking help and support is an important step to regaining financial independence.</span></p> <p><span style="font-weight: 400;">If you or someone you know is experiencing financial abuse, you can contact the 24-hour support line 1800RESPECT on 1800 737 732 for more information on support and services that can help your situation.</span></p> <p><span style="font-weight: 400;">If you need urgent help with finances and living expenses, you can contact the Department of Social Services on 1300 653 227 to be connected to a local emergency relief service.</span></p> <p><span style="font-weight: 400;">If you are concerned about debt and/or want to find a financial counsellor, you can contact the National Debt Helpline on 1800 007 007.</span></p> <p><span style="font-weight: 400;">You can also </span><a href="https://www.whiteribbon.org.au/find-help/support-services/"><span style="font-weight: 400;">look up</span></a><span style="font-weight: 400;"> local support services in your state or territory.</span></p>

Retirement Income

Placeholder Content Image

The surprising benefit of going through hard times

<p>For those people who have faced trauma or adversity, the end result can be growth and a renewed sense of self.</p> <p>It’s not just the “starving artists” who use their own issues of love and loss to get inspired to create something great.</p> <p>Over the last two decades, psychologists Richard Tedeschi and Lawrence Calhoun coined the phrase “post-traumatic growth” and many others have also dedicated themselves to researching it in over 300 studies.</p> <p>Essentially, post-traumatic growth refers to people who experience a life changing transformation after facing challenging circumstances. Researchers found that almost seven out of 10 survivors of trauma report having some sort of positive psychological growth.</p> <p>The growth can vary in its scope, from a greater appreciation for life itself, a renewed love for family and friends, a keener eye to the beauty in nature, a spiritual connection with a higher being, or a renewed energy for work or charity.</p> <p>For instance living through a car accident may lead the survivor to decide to change jobs or move across the country, as they have the light bulb moment that life is short. Someone who has lost a child may find the inner strength and passion to set up a charity in the hope that others won’t have to live through the pain that they have experienced.</p> <p>It’s not the case for everyone though – not all people survive and thrive, and many experience the more commonly known post traumatic stress disorder (PTSD). Why is it then that some come out on the other side of trauma on the up, while others stay low?</p> <p>The model of post-traumatic growth created by Tedeschi and Calhoun states that people naturally make decisions every day that are based on their own beliefs and assumptions that have been formed over a lifetime. When trauma hits, these beliefs and ideals are shaken to the core, not unlike an earthquake, and all of a sudden our most basic foundations of life can become unhinged. Left to rebuild, many people let go of these preconceived ideas and start over from the bottom up.</p> <p>“A psychologically seismic event can severely shake, threaten, or reduce to rubble many of the schematic structures that have guided understanding, decision making, and meaningfulness,” Tedeschi and Calhoun write. </p> <p>The process of rebuilding the core structure of the individual’s belief system tends to start with some very challenging emotions such as anger, grief and anxiety. The growth tends to occur concurrently with, rather than instead of, these emotions.</p> <p>The individual needs to start over, pulling together new meanings and assumptions of the world around them, based on their new information about how the world works.</p> <p>By seeing themselves as survivors rather than victims, they can feel strong and wise rather than weak and vulnerable. From there, they may feel that they are getting closer to their true self.</p> <p>Things that we took for granted, such as our families, friends, steady income, or a comfortable home – can suddenly feel like the greatest assets in the world. This renewed sense of life as a gift can open doors to creativity such as art or photography which seek to capture the beauty of the world.</p> <p>Has your outlook on life changed as a result of trauma? We would love to hear your story in the comments.</p> <p><strong>Related links:</strong></p> <p><a href="/health/mind/2016/06/overcoming-pain-using-the-power-of-the-mind/"><span style="text-decoration: underline;"><em><strong>Overcoming pain using the power of the mind</strong></em></span></a></p> <p><a href="/health/mind/2016/06/trick-to-make-you-a-morning-person/"><strong><em><span style="text-decoration: underline;">The 4 tricks guaranteed to make you a morning person</span></em></strong></a></p> <p><a href="/health/mind/2016/06/extraordinarily-simple-ways-to-be-happy/"><span style="text-decoration: underline;"><em><strong>5 extraordinarily simple ways to be happy</strong></em></span></a></p>

Mind

Our Partners

Over 60

© Copyright 2024 OverSixty.All Rights Reserved.