We talk a lot about mental health in the workplace. Employers are increasingly recognising the importance of supporting their people's psychological health, reducing stress and building healthier workplace cultures.

But how often do we talk about money?

Financial wellbeing isn't separate from mental wellbeing. In fact, financial stress can have a significant impact on our emotional health, relationships, confidence and ability to function at our best.

With October being Mental Health Month, it's a timely reminder for employers to consider an important question:

If you're investing in your employees' mental health, are you including their financial wellbeing in the conversation?

The Link Between Financial Stress and Mental Health

Financial pressure is about much more than having enough money to pay the bills.

For many Australians, money is a persistent source of worry, uncertainty and emotional stress.

According to the Australian Institute of Health and Welfare, almost 55% of financially stressed Australians experience high or very high psychological distress — around 2.6 times the rate of those who aren't financially stressed.

And financial stress isn't limited to people on lower incomes.

Research from the Australian Unity Wellbeing Index found that households earning up to $100,000 were experiencing personal wellbeing scores below the normal range, compared with a previous threshold of $60,000.

This is an important reminder that “we can't assume someone is financially comfortable simply because they're earning a good salary”.

Employees can be managing mortgages, rising living costs, family responsibilities, debt, unexpected expenses or uncertainty about their financial future, regardless of their income.

And while these challenges may be happening outside the workplace, their effects don't necessarily stay there.

Why Financial Wellbeing Matters to Employers

When employees are experiencing financial stress, it can affect more than their bank balance.

Ongoing money worries can contribute to anxiety, poor sleep, difficulty concentrating, reduced confidence and decision fatigue.

For employers, this can have implications for employee engagement, productivity, absenteeism and overall wellbeing.

Importantly, financial stress isn't always visible.  Think of an iceberg, we can only see what’s above the surface, which is only a small portion of the whole story.

An employee may appear successful and capable at work while privately feeling overwhelmed by their financial responsibilities or uncertain about how to improve their situation.

This is why financial wellbeing education is a valuable addition to workplace wellbeing strategies.

By providing employees with financial knowledge, practical tools and a supportive environment to learn, employers can help address one of the significant sources of stress affecting their people.

Financial Wellbeing Isn't Just About How Much You Earn

Here's something I find particularly interesting in my work as a Financial Coach.

Financial wellbeing isn't determined solely by how much money we have. Our relationship with money, our financial habits and how much control we feel we have over our finances also matter.

Australian research published in 2025 found that positive financial behaviours, such as regularly saving even small amounts and making credit card payments on time, can positively influence mental health.

Why?

Because positive financial behaviours can help strengthen three important elements of psychological wellbeing:

• Control: Feeling able to influence your financial situation rather than being overwhelmed by it.
• Autonomy: Having the confidence and ability to make financial decisions that align with your needs and values.
• Self-efficacy: Believing you have the skills and capability to manage your money and make positive changes.

These are powerful outcomes.

When people feel more capable of managing their finances, they can begin to shift from financial avoidance or constant worry towards greater confidence and a sense of stability.

And importantly, this doesn't require a dramatic financial transformation.

Sometimes, small changes create the biggest shift in how someone feels about their money.

How Workplace Financial Wellbeing Programs Can Help

One of the most rewarding aspects of delivering workplace financial wellbeing sessions is helping employees realise they don't need to have everything figured out to start improving their financial wellbeing.

And no, I'm not Harry Potter. I can't magically transform someone's finances in a 60-minute workshop!

But I can help employees understand their relationship with money, develop practical skills and take realistic steps towards feeling more financially confident and in control.  It’s also a great conversation starter for your team to continue long after the event.

My workplace sessions combine two important elements:

Money IQ — Financial knowledge and practical skills

Understanding money management, cash flow, debt, savings, superannuation and financial decision-making.

Money EQ — The psychology and emotions behind money

Understanding our beliefs, habits, behaviours and emotional responses to money, and how these influence the financial decisions we make.

By combining financial education with behavioural insights, employees can develop not only the knowledge to make better financial decisions, but also the confidence and motivation to put that knowledge into practice.

Practical Outcomes for Employees

Here’s what a good financial wellbeing workshop should cover:

• Understand where money is going and feel more organised.
• Identify money habits that may be holding people back.
• Create realistic savings goals and build an emergency buffer.
• Automate bills and savings to reduce financial decision fatigue.
• Develop strategies to manage debt more confidently.
• Understand how their emotions and beliefs influence financial decisions.
• Build financial resilience during times of uncertainty.
• Feel more confident about the financial future.

These are practical skills employees can apply immediately, regardless of their income, age or financial experience.

The Benefits of Financial Wellbeing Education for Organisations

For employers, including financial wellbeing within an employee wellbeing strategy offers benefits that extend beyond financial literacy.

1. Supporting employee mental health

Financial education can help employees develop practical ways to manage financial stress, feel more confident and regain a sense of control.

2. Reducing financial distractions at work

When employees feel better equipped to manage their money, they may spend less time worrying about financial problems and have greater mental capacity to focus on their work.

3. Building a supportive workplace culture

Providing access to financial wellbeing education demonstrates that an organisation recognises employees as whole people, with responsibilities and challenges beyond the workplace.

4. Empowering employees across different life stages

From younger employees managing their first salary to people juggling mortgages, raising families, navigating separation or planning retirement, financial education can be tailored to diverse needs.

5. Encouraging sustainable behaviour change

Financial wellbeing programs can help employees build practical habits that continue to benefit them long after a workshop has finished.

While no single workshop can eliminate financial stress, accessible, relevant education can provide a meaningful starting point.

Making Financial Wellbeing Part of Your Workplace Wellbeing Strategy

Financial wellbeing shouldn't be treated as an occasional conversation only when employees are experiencing hardship.

Just as organisations encourage proactive approaches to physical and mental health, financial wellbeing benefits from ongoing education, awareness and support.

A workplace financial wellbeing program doesn't need to be complicated.

It might begin with an interactive workshop during Mental Health Month, a lunch-and-learn session, a series of practical webinars or short educational videos employees can access when it suits them.

The most important thing is creating an opportunity for employees to develop their financial knowledge without judgement, jargon or unrealistic expectations.

Because when employees feel more confident and capable with money, the benefits can extend into their everyday lives, relationships and working lives.

Bring Financial Wellbeing Into Your Workplace

I deliver practical, engaging workplace financial wellbeing workshops, webinars and education programs that help employees build their financial knowledge, understand their money behaviours and develop greater financial confidence.

Drawing on more than 20 years in financial services, most of those as a Financial Adviser, and my experience as a Money Coach, I combine the practical side of money management with the psychology of why we do what we do with money.

My sessions are designed to be relatable, interactive and empowering, with realistic strategies employees can take away and start using immediately.

Whether you're planning an employee wellbeing initiative, Mental Health Month activity or a longer-term workplace financial wellbeing program, I'd love to help.

Because supporting your employees' financial wellbeing isn't just about helping them manage their money. It's about helping them feel more confident, capable and in control of their lives.

Interested in bringing financial wellbeing education to your workplace?

Get in touch to explore a tailored workplace financial wellbeing session or program for your employees.

www.kareneley.com.au 

www.womentalkingfinance.com.au 

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