Financial pressures can be a significant stress factor for some, and its impacts can spill over into personal and work life. A new initiative as part of the LGIS Health and Wellbeing program will provide all local government staff with access to a series of financial wellbeing workshops.
It’s just another benefit of LGIS membership.
Financial wellbeing looks different for everyone, but generally it is when a person is in control of their finances and feels financially secure, now and into the future. This could mean being able to meet expenses and have money left over, having the capacity to meet a financial emergency/unforeseen event, or having the ability to plan for the future. If we don’t feel in-control of our finances, we may feel financial stress, which could turn into a physical response, such as fear, stress and anxiety.
Beyond Blue partnered with the Australian Securities and Investment Commission (ASIC) to examine the relationship between financial wellbeing and mental health.
The Money and Mental Health Social Research Report found that people experiencing financial challenges are at least twice as likely to encounter mental health issues as those who aren’t. It confirms previously anecdotal evidence that people face a range of mental health impacts including stress, diagnosable mental health conditions and suicidal thoughts, when experiencing financial challenges.
It is important to note that a positive relationship exists between financial wellbeing and mental health, meaning improving your financial wellbeing will improve your mental wellbeing.
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Representatives from across the state — from Port Hedland to Esperance and everywhere in between joined together to network and explore current risk issues for the sector.
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Businesses are prone to a host of disasters that vary from minor to catastrophic. The start of the COVID-19 crisis in 2020 was sudden, unexpected and incredibly difficult for many.
LGIS has partnered with the Financial Counsellors’ Association of WA (FCAWA) to develop a six part series to assist with improving individual financial wellbeing. These sessions will cover a range of financial topics to help local government workers learn ways to cope with financial stress. The program includes many practical tools and strategies to build knowledge and practices about managing your finances effectively.
There are two sessions per topic, one for metropolitan and another for regional local government staff. All workshops will
be delivered by Zoom and recordings will be available for two months.
More information
Look out for registration details for each session, or email [email protected] for more information.
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LGIS is the unifying name for the dedicated suite of risk financing and management services for WA local governments, established by the WA Local Government Association in conjunction with JLT Public Sector (part of the Marsh group of companies). LGIS is managed by JLT Public Sector (ABN 69 009 098 864 AFS Licence 226827).
Risk Matters, via this website, is designed to keep members, their staff and elected members informed on topical risk management and insurance issues and LGIS programs and services.
