What does the Federal Budget have to do with Work Life Balance?

May 13, 2014

Financial Pressure & Work Life BalanceFederal Budget and Balance – How to deal with the financial pressure

With the announcement of the federal budget, more Australians will be forced to do more with less.  This will result in increased pressure from employers to who will also feel the punch and will ultimately create more uncertainty in the labour market.  There will no doubt be a greater expectation by workers to put in more than what they have done before.

The question I was asked today is how can work life balance still be possible with financial strain?

The reality is that there are many families who may need to put holidays on hold, eat a home more often and reduce their social/sporting activities to be able to get by.  But should this actually be the case?

With increased pressure at work, employees will need to have balance more than ever.  It’s important to prioritize what is important and how you can achieve them.

Here are some specific tips around achieving work life balance with financial strain.

  • What’s important to you?  What makes you feel fulfilled, happy and content?  This could be scrapbooking, playing sport, massage, spending time with family or something else.   Once you work out your favourite activities, think about why exactly is it important to you.  Is it that you get to be self-expressed, you get to connect with other, you get to connect with yourself, you can make a contribution, you feel beautiful etc.
  • Budget – as with the federal budget, make sure you’re aware of what you spend your money on and what you’ve got coming up as well.  It’s important to understand your current state before making any decisions.  Due to financial constraints, you may need to stop certain activities to save some money for example.  By being honest with yourself, you’ll have the knowledge to do something about it.
  • How much does balance cost you? – what are you currently spending on the things that bring you balance?  Measure this by time and money over the last month.  How much can you afford?  Based on your budget, how much can you afford in terms of money and time to achieve.
  • Think creatively – the first tip was focused around what you get from participating in these activities.  After you get the core of what brings balance to you and considering your budget, you may need to think creatively about how to make it happen.  In you find you need to make some financial cuts to the things that are important to you, you may want to consider how else you can do these activities.  This could be instead of paying for a gym membership, you may advertise to walk your neighbours dog and bring in some money.  Another idea is that if you love playing sport, organize a social game in the park on the weekend.  The options are endless, and it’s up to you to think outside the box to ensure that you’re balance doesn’t get affected by financial pressure.

It is critical, in times of financial strain that work life balance becomes increasingly more important.  Don’t forget to focus on what’s important and make it a priority to be creative if you need to be to ensure you continue to get the balance you deserve.

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