Society has changed significantly over the past 25 years. Economic necessity has drawn more and more women into the workforce. Despite this, the undercurrent in our society is still that a man’s identity is linked to work.
Fathers often still feel responsible for providing for their family and want to be the breadwinner. With job insecurity becoming more prevalent, many fathers are increasingly feeling stressed about not being able to meet their family’s needs.
James Randle
These financial pressures are causing many fathers undue stress. Feeling they can’t provide sufficiently can leave dads feeling inadequate and even depressed.
Here are some top tips to help dads relieve the financial burden.
Tips for financially stressed dads:
- Don’t drown in debt. If you have a mortgage and you’re struggling with repayments, speak to your bank immediately. Don’t postpone that call. Your financial adviser or accountant may be able to help you manage your debt and cashflows.
- Live within your means. Could you downsize your lifestyle? Do you really need to take that expensive holiday? Don’t worry about keeping up with the Joneses. Try to avoid unnecessary expenditure.
- Ask other fathers about their own experiences and how they dealt with financial pressures. They will only be too happy to impart their advice.
- Don’t take the breadwinner role too seriously. Your purpose is to sustain your family, such behavior could destroy it.
- Ask for help if you feel overwhelmed by stress brought on by financial pressures. There’s no shame in asking for help. Tell your partner or parents how you feel. If they’re unable to help and you feel out of your depth, talk to your GP or a counselor counselor. Receiving support from others is very effective in managing stress.
- Don’t try to do everything at work and home. Long work hours and sleep deprivation will not lead to an easing of financial pressures.
- Get your friends involved. Research has shown that male bonding is effective in reducing stress. They may be also happy to babysit, allowing you to take on an additional shift or time away with partner.
- Find a release. Physical exercise can be a very effective way of relieving stress.
- Children love spending time with their fathers, so you don’t have to buy expensive clothes and gifts for them. Family outings can be inexpensive - the beach and park are free.
I wish my fellow fathers a wonderful day.
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James has enjoyed a successful career in the financial industry for more than 10 years. For the past five years he has been helping families, single parents, professionals and small businesses achieve their financial goals. James draws on his own experience and offers clients practical advice to assist them in planning for their future.
James is the father of an energetic two year old, with number two on the way! When not at work, you'll find James spending time with his family or running along the coast between Coogee and Bondi.
James Randle | Financial Adviser
Phone: 02 8456 5333
Mobile: 0414 669 835
Email:
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Website: www.randleadvisory.com.au
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