Struggling this EOFY? Simple ways to help money stress feel more manageable
June rolls around and suddenly it feels like everything needs your attention. Tax. Bills. Budgets. That growing to-do list you’ve been meaning to get to.
If you’re feeling a bit more stretched than usual, you’re not imagining it. The end of financial year (EOFY) can bring financial pressure and that often shows up in how you think, feel and sleep.
The good news? There are small, practical ways to feel more in control and ease some of the financial pressure.
Why EOFY can feel stressful
“The kind of financial stress a lot of us experience towards the EOFY isn’t always obvious,” says Nicole Vanderkroef, Registered Clinical Counsellor from Lifeline Australia, our nib foundation Better Health Partner. “Sometimes it builds quietly in the background, and you don’t realise how much it’s affecting you until things start to feel overwhelming.”
For some people, EOFY creates new pressures. For others, it can amplify financial stress that's already been building over time.
Here are a few common stressors that tend to ramp up around EOFY.
Feeling switched on all the time
Between EOFY sale ads, tax reminders and inbox overload, June can feel like a constant stream of noise.
That pressure to act quickly or not ‘miss out’ can push you into decisions you wouldn’t usually make and leave you feeling more reactive than in control.
Financial stress
If you’ve ever found yourself lying awake thinking about money, you’re definitely not alone. 14.8 million Australians say they struggle to get a good night’s sleep, according to a consumer survey, with 42% naming financial worries as a primary cause.
If you're already feeling pressure about money, EOFY deadlines can make it even harder to properly switch off.
Comparing yourself to others
EOFY sales and social media don’t always mix well.
“Seeing what others are buying or how they’re spending can make it feel like you need to keep up even when it doesn’t make sense for you. That comparison can quickly turn into stress, frustration or self-doubt,” Nicole says.
How can I manage EOFY stress?
Nicole says you don’t need to overhaul everything overnight. Try separating what you’re feeling from the practical steps you can take to feel more in control. You don't need to solve everything at once. Focusing on one or two small actions can help things feel more manageable.
Give yourself a break from the noise
“If things feel a bit loud right now, it’s okay to step back,” says Nicole.
That might look like muting sale emails, limiting screen time in the evenings or taking a day off social media. Even a short break can help clear your head and make decisions feel less rushed.
Set a time to deal with money stuff
When money worries pop up all day, it can feel exhausting. Instead, try setting aside a specific time to deal with them. It could be 15 minutes on a Saturday morning or a quick monthly check-in.
Outside that time, remind yourself you've already set aside space to come back to it.
Having a set time can help stop those thoughts from taking over your whole day and make things feel more manageable.
Start small and build from there
You don’t need to fix everything at once.
Start with one simple task. Sometimes the smallest ones are the easiest. Cancel a subscription you don’t use. Review a bill. Check if there’s a better deal on something you already pay for.
It might not seem like much, but small wins can build a sense of progress and create momentum, even if your financial situation doesn't change overnight.
Remind yourself you don’t have to keep up
EOFY spending can be everywhere this time of year. But what works for someone else doesn’t have to work for you.
“Taking a moment to pause before you buy can help you to make a more thoughtful decision,” Nicole says. “Something as simple as leaving something in your online cart and walking away for a little while before coming back to it with fresh eyes.”
If financial stress is starting to affect your sleep, relationships or ability to cope day-to-day, talking to someone you trust or seeking support can help.
How nib can support you through EOFY stress
Looking after your health should be a top priority, especially when other parts of life feel busy. If EOFY has pushed it down your list, the new financial year can be a good moment to reset.
Access mental health support: If EOFY stress is starting to feel like too much, you don’t have to handle it alone. Eligible nib members can access a range of mental health support options, including professional help when you need it.
Visit the Lifeline support toolkit: Access a collection of helpful information and tools designed to help you manage financial stress through nib’s Better Health Partner, Lifeline.
Book something you’ve been putting off: If you’ve got Extras cover, it might be time to finally book that remedial massage or acupuncture appointment you deserve. Log in to the nib App or member account to check your annual limits.
EOFY doesn’t have to feel like a finish line you crawl over. It can be a simple reset point to take a breath, focus on what matters and make one or two changes that help you feel more in control.
The information on this page is general information and should not be used to diagnose or treat a health problem or disease. Do not use the information found on this page as a substitute for professional health care advice. Any information you find on this page or on external sites which are linked to on this page should be verified with your professional healthcare provider.
The information shared in this article is general and not meant to guide specific financial choices. Always consult with a professional who understands your personal situation before making any financial decisions.