TA L K I N G A B O U T M E N TA L H E A LT H
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TA L K I N G A B O U T M E N TA L H E A LT H
Financial Wellbeing It’s more important now than ever BY JACKI HOUTWIPPER
Latest global thought leadership tells us that our financial wellbeing should be a primary focus. Research globally and in New Zealand shows us that there is a direct link between financial stress, and our physical and mental wellbeing. When you’re a lawyer, you often have high levels of stress. I’ve experienced it. And our broader lives and life events can cause us stress too. COVID-19 is an extreme example of an event that is having a major impact on our lives at this time. It has disrupted our very way of living, as well as impacting our economy, and the livelihoods of many. In these difficult and uncertain times, it’s natural to be worried, and it’s more important now than ever to prioritise putting some focus on your financial wellbeing. By getting clear on your financial position and taking action to manage it, you will be able to ease your financial stress, and in turn be more resilient and able to manage through the challenges that life may present. Even if you’re not particularly stressed or worried about money, what if you could enhance your wellbeing and enjoyment of life, and have a better future, by putting some priority on your financial wellbeing? Money is a taboo subject. For many New Zealanders, fear, shame or embarrassment stops them from talking about it or getting help. I’ve learnt first-hand about the importance of financial wellbeing, how to strengthen it, and the difference that can make to your life. So, to start with, here’s my story. Spoiler alert – I use the ‘M’ word, and the ‘F’ word (money and fear), and I’m OK with that…
Fear, guilt and stress – learning from the past My parents came from poor backgrounds. My father got a scholarship to go to university and worked incredibly hard to get to the senior ranks of a prominent New Zealand engineering firm and provide for our family. My sister and I were both encouraged to go to university. We’ve had successful careers (and lives) by most standards. I’m incredibly grateful for the opportunities and experiences I’ve had, and the challenges and learnings along the way. 46
Jacki Houtwipper
My father was extremely focused on financial security. His relentless drive to ensure we had educations that would enable us to earn well sprang from his past, his deep love for us and determination to make sure we would be okay. From the way money was talked about, the predominant feelings I took forward were fear, guilt and stress. It was subtle, but pervasive, with a huge emphasis on working extremely hard and doing your absolute best. For the most part, that has served me well. On the flip side, at times, those feelings, pressure and stress around money have been harmful to my health, my wellbeing and my relationships. Undeniably, the times of high stress had a major impact. Earlier in my career I suffered from a chronic pain/fatigue condition. Luckily, I recovered fully from that. Over time, I have learnt how important it is to prioritise your wellbeing, be clear about what you really value, and how you want to live your life. A key part of that for me has been prioritising my financial wellbeing. It’s not an exaggeration to say that has made a significant difference to my life – easing my stress, freeing up my mind, my time and energy for the people and things that are important to me. Now I’m far more resilient and able to deal with unexpected shocks and life events. To complete the circle of the story of my father: this highly intelligent and capable man is now in the advanced stages of dementia. It’s a debilitating, stressful, arduous journey for us all, and it only gets worse. It has emphasised for me the importance of minimising all the stress in life that you can, so that you have the capacity to deal with the hard times, and the energy to give and enjoy life’s happier moments.