Farming is both a rewarding and challenging profession that is impacted heavily by land conditions, weather and market forces. These influences can be volatile and difficult to predict. When things go south in any of these areas financial stress can occur. This may feel overwhelming, but you don’t have to face it alone. There are people and organisations you can turn to for support, including your local Rural Financial Counsellor.
Strategies to manage financial stress are:
Acknowledge the stress: recognising the financial pressure that you are facing is the first step to managing financial stress effectively. Reflect on what is making you stressed and how it is impacting your decision making and day to day activities.
Seek professional help: Seeking help from finance experts including RFCS NSW is important when you are dealing with financial stress. They provide tools and strategies to navigate your specific situation.
Prioritise mental health: Prioritising your mental wellbeing by using stress management techniques. Mindfulness, exercise or speaking with mental health professionals and ensuring you are taking care of your emotional wellbeing.
Explore financial assistance: Research and apply for available financial aid programs or grants designed for farmers facing financial hardship.
RFCS NSW’s Rural Financial Counsellors work closely with on each of these areas. Our aim is to help farmers define success and build the competencies and relationships necessary to achieve it. Success looks different for everyone, but common goals include:
Negotiating with creditors and accessing support so that you can trade out of financial hardship
Running a successful farm to build wealth and reduce the risk of financial hardship
Planning a dignified exit from the industry
Achieving viable family succession of the farm
Reducing stress and increasing personal wellbeing to manage stress effectively.
Increasing business management capability
Other support services that help in these areas are:
Lifeline: Free, 24-hour telephone crisis support service in Australia.
Rural Adversity Mental Health Program (RAMHP): Offers resources and support for mental health and wellbeing.
Active Farmers: Provides physical activities and fitness programs to improve mental health, reduce stress and foster community connections.
The Rural Financial Counselling Service Program is funded by the Australian Government and the New South Wales Government and is administered by the Department of Agriculture, Fisheries and Forestry
