Financial Wellbeing

Our financial health, for better or worse, has a strong influence on our overall health. From worry about financial matters, through to enabling access to medical, health and wellbeing services, our finances are an important aspect of our ability to engage and interact in our world in a healthy way. A healthy financial situation will look different to everyone depending on their needs, responsibilities, ambitions and upbringing. In this section we will provide information on the following topics:

  • writing a budget
  • consider your savings during COVID-19
  • community giving programs
  • financial assistance
     

Writing a budget

One of the fundamental practices in organising your personal or household finances is to work out what's coming in and what's going out. A budget is one tool that can help you identify where your money is coming from and where it is going to so that you can make decisions about any changes that you many want or need to put in place. A budget can be a strict schedule of daily or weekly income or expenditure that you seek to adhere to, or it can be a one off review of your financial position and general plan for your ongoing money management.

There are a range of approaches to personal and household budgeting, you can keep it as simple as a jotting on the back of a serviette, you can draw up an excel spreadsheet to keep track of things or you can engage more formal and professional help to sort things out and plan for the future. When engaging a professional ensure that they are fully qualified to give you advice and registered with the appropriate professional bodies.
 

Consider your savings during COVID-19

While we must acknowledge that for many people in our community, this is a very difficult time financially - and please access the available resources (see Support Services) if this applies to you - we are also aware that other members of the community at ANU are in a more fortunate position in regards to job and income security. For many of us, our day to day expenses have diminished during this time (less commuting/parking/eating out etc) and so, with some review of our own situations we may be able to identify a savings plan for the COVID-19 period which allows us to improve our longer term financial wellbeing (do you have a loan or other debts that you could be paying off a bit faster), to save for what may be a much needed holiday after the events of 2020, or to contribute that extra money back to our community through one of the staff giving programs at ANU or to another worthy charity in need during this time.
 

Community giving programs

The act of giving is a powerfully positive thing for our mental and social health. There are a range of options and it is up to you how you choose to give. There are options to donate money either through ANU or through other local and global charities, but you can also consider volunteer work, even during this period and other ways that you can give of your time and skills.
 

Financial assistance

2020 has been an extraordinary year. Even those with solid financial plans and carefully saved resources may find themselves and their households under significant strain. One of the greatest assets of the ANU is its strong community and its commitment to our people. There are supports in place for you and your situation during this time to keep you afloat and maintain you and your family's wellbeing through this period. For information about available financial assistance for student's visit https://www.anu.edu.au/covid-19-advice/learning-remotely/financial-assistance and for staff visit https://www.anu.edu.au/covid-19-advice/health-wellbeing/support-services.