--- title: Financial Stress - Simple Strategies to Overcome It description: Financial stress can overshadow the good things happening in your life, making it difficult to enjoy the here and now. There are positive steps you can take today toward alleviating your worries and improving your financial future. image: https://www.altusfinancial.com.au/hubfs/Financial-Stress---Simple-Strategies-to-Overcome-It.jpg --- [![Logo](https://www.altusfinancial.com.au/hubfs/Logo.svg "Logo")](https://www.altusfinancial.com.au/) - [![](https://www.altusfinancial.com.au/hubfs/1.%202017%20Assets/Dark_Phone.svg)](tel:+61289083444) [![Talk with us](https://no-cache.hubspot.com/cta/default/512115/6a87cb2e-17ae-43a1-93c7-da9582e08c36.png)](https://cta-redirect.hubspot.com/cta/redirect/512115/6a87cb2e-17ae-43a1-93c7-da9582e08c36) ##### Accounting & Business Services ##### Wealth Services ##### Lending Sources ##### [Need Real-life Advice?](https://www.altusfinancial.com.au/request-a-consultation) [![Talk with us](https://no-cache.hubspot.com/cta/default/512115/6a87cb2e-17ae-43a1-93c7-da9582e08c36.png)](https://cta-redirect.hubspot.com/cta/redirect/512115/6a87cb2e-17ae-43a1-93c7-da9582e08c36) [![page-1 (5)](https://www.altusfinancial.com.au/hubfs/page-1%20(5).svg "page-1 (5)")](https://www.altusfinancial.com.au) - ![](https://www.altusfinancial.com.au/hubfs/Assets%20Jan%202019/Images/group-14%20(1).svg)![](https://www.altusfinancial.com.au/hubfs/Assets%20Jan%202019/Images/group-17%20(1).svg) - ##### MENU - [![](https://www.altusfinancial.com.au/hubfs/Assets%20Jan%202019/Images/phone-call%20(6).svg)![](https://www.altusfinancial.com.au/hubfs/Assets%20Jan%202019/Images/phone-call-2.svg)](tel:1300832962) - ##### MENU [![Talk With Us](https://no-cache.hubspot.com/cta/default/512115/11099956-4246-4311-83f2-64fc6560f370.png)](https://cta-redirect.hubspot.com/cta/redirect/512115/11099956-4246-4311-83f2-64fc6560f370) - [![](https://www.altusfinancial.com.au/hubfs/Assets%20Jan%202019/Images/phone-call-2%20(1).svg)](tel:+61%202%208908%203444) - ![](https://www.altusfinancial.com.au/hubfs/close.svg) CLOSE - [Instagram](https://www.instagram.com/altus_financial/) - [LinkedIn](https://www.linkedin.com/company/2339369/admin/) - [Facebook](https://www.facebook.com/AltusFinancial/) - [Business (242)](https://www.altusfinancial.com.au/blog/topic/business) - [Strategy (150)](https://www.altusfinancial.com.au/blog/topic/strategy) - [Wealth (142)](https://www.altusfinancial.com.au/blog/topic/wealth) - [Super (56)](https://www.altusfinancial.com.au/blog/topic/super) - [CFO (48)](https://www.altusfinancial.com.au/blog/topic/cfo) - [Growth (38)](https://www.altusfinancial.com.au/blog/topic/growth) - [Business Succession (25)](https://www.altusfinancial.com.au/blog/topic/business-succession) [![Helpful Resources](https://no-cache.hubspot.com/cta/default/512115/11b7293b-309b-4f1b-af85-27ec1dd19a35.png)](https://cta-redirect.hubspot.com/cta/redirect/512115/11b7293b-309b-4f1b-af85-27ec1dd19a35) Request a Consultation - Close![](https://www.altusfinancial.com.au/hubfs/Assets%20Jan%202019/Images/close%20(3).svg) ## Request a Consultation - [Wealth](https://www.altusfinancial.com.au/blog/topic/wealth) - [Super](https://www.altusfinancial.com.au/blog/topic/super) - [Tax](https://www.altusfinancial.com.au/blog/topic/tax) # [Division 296 tax: what high-balance super members need to do now](https://www.altusfinancial.com.au/blog/division-296-tax-what-high-balance-super-members-need-to-do-now) From 1 July 2026, Division 296 will introduce additional tax on superannuation balances above $3 million. For many Australians, this will be a marginal change. For high-balance super members, it’s something more significant — a shift that could reshape how sup..... ###### Altus Team #### Latest Posts [Wealth](https://www.altusfinancial.com.au/blog/topic/wealth), [Super](https://www.altusfinancial.com.au/blog/topic/super), [Tax](https://www.altusfinancial.com.au/blog/topic/tax) ##### [Division 296 tax: what high-balance super members need to do now](https://www.altusfinancial.com.au/blog/division-296-tax-what-high-balance-super-members-need-to-do-now) [Business](https://www.altusfinancial.com.au/blog/topic/business), [FBT](https://www.altusfinancial.com.au/blog/topic/fbt), [Accounting](https://www.altusfinancial.com.au/blog/topic/accounting) ##### [Common FBT Questions and Answers](https://www.altusfinancial.com.au/blog/common-fbt-questions-and-answers) [Super](https://www.altusfinancial.com.au/blog/topic/super), [Business](https://www.altusfinancial.com.au/blog/topic/business) ##### [Pay Day Super Is Coming: What SMEs Should Be Doing Now](https://www.altusfinancial.com.au/blog/pay-day-super-is-coming-what-smes-should-be-doing-now) [Lending](https://www.altusfinancial.com.au/blog/topic/lending) ##### [Supporting the Next Generation into Property](https://www.altusfinancial.com.au/blog/supporting-the-next-generation-into-property) [Wealth](https://www.altusfinancial.com.au/blog/topic/wealth), [Budget](https://www.altusfinancial.com.au/blog/topic/budget), [Risk](https://www.altusfinancial.com.au/blog/topic/risk) ##### [Rising Insurance Premiums: What’s Really Going On, and What You Can Do About It](https://www.altusfinancial.com.au/blog/rising-insurance-premiums) [Wealth](https://www.altusfinancial.com.au/blog/topic/wealth) - 5 min read ## [Financial Stress - Simple Strategies to Overcome It](https://www.altusfinancial.com.au/blog/financial-stress-simple-strategies-to-overcome-it) ###### Matt Smith - SHARE: - [**](http://www.linkedin.com/shareArticle?mini=true&url=https://www.altusfinancial.com.au/blog/financial-stress-simple-strategies-to-overcome-it) - [**](https://www.twitter.com/share?url=https%3A%2F%2Fwww.altusfinancial.com.au%2Fblog%2Ffinancial-stress-simple-strategies-to-overcome-it) - [**](https://www.facebook.com/sharer/sharer.php?u=https%3A%2F%2Fwww.altusfinancial.com.au%2Fblog%2Ffinancial-stress-simple-strategies-to-overcome-it) Financial stress can overshadow the good things happening in your life, making it difficult to enjoy the here and now.  However, the good news is that there are positive steps you can take today toward alleviating your worries and improving your financial future. Not only can you improve your monetary situation, but you can improve your stress levels, mood and overall view of the future as you get your finances under control. In this post, we’ll take a look at some simple strategies you can use to overcome your financial stress and direct your energies toward future success. ## Pinpoint Your Financial Stressors Financial stress is usually caused by specific indicators, such as oppressive credit card debt, cash flow problems, a lack of savings or other issues. Analyse your financial situation and identify the problems that cause your anxiety. Once you have identified these problems, you can find solutions. For instance, if you realise that you’re consistently spending more than you make each month, you can establish a spending budget that will provide boundaries and structure for your cash flow. ## Evaluate Your Retirement Strategy While you may be saving for retirement through [contributions to your super](https://www.altusfinancial.com.au/maximise-my-super?__hstc=71823948.7806bc6bfd3f395f5e0084e5bf43cb39.1491881654936.1523597114855.1523600840064.176&__hssc=71823948.12512929301251293000.1523597114855&__hsfp=4086770084), you may not know if you’re saving enough. Many people don’t know how much they’ll need, so they don’t know whether or not they’re on track. A nebulous retirement plan causes stress because you can’t know if your current efforts will lead you where you want to go. Sit down with your wealth adviser and determine how much you’ll need for the retirement you desire. Then figure out how much you should be saving to turn that goal into a reality. With a firm target and a plan to hit the bullseye, your stress will drop significantly. ###  [![New Call-to-action](https://no-cache.hubspot.com/cta/default/512115/d5bbabf2-dd9e-4b5e-8aaa-7961f2968b46.png)](https://cta-redirect.hubspot.com/cta/redirect/512115/d5bbabf2-dd9e-4b5e-8aaa-7961f2968b46) ## Review Your Tax Planning Tax surprises are no good. A massive tax bill can disrupt your cash flow and throw off your financial goals. Avoid this stress by developing an effective personal tax strategy. Talk with your Altus adviser about methods you can use to [reduce your tax liabilities](https://www.altusfinancial.com.au/minimise-my-tax?__hstc=71823948.7806bc6bfd3f395f5e0084e5bf43cb39.1491881654936.1523484877717.1523597114855.175&__hssc=71823948.28.1523597114855&__hsfp=4086770084) and avoid surprises. You may be able to obtain a deduction a year sooner for your super contributions, or you might consider bringing forward other expenses to receive a deduction for this year. Additional super contributions may change your tax situation, and varying down instalments may be another strategy to consider. With a solid tax plan, you can avoid surprises and improve your financial health. ## Protect Your Investments Do you have [adequate insurance](https://www.altusfinancial.com.au/protect-my-family-assets?__hstc=71823948.bef12c12344a5da601ffa5933a6beb5d.1549552298189.1552317614708.1552351506556.28&__hssc=71823948.2.1552351506556&__hsfp=792587630) for your household? If not, you may be experiencing unnecessary financial stress. Review your car insurance, home and contents insurance, and life insurance to make sure you’re sufficiently covered. The addition of a family member, the purchase of new assets and even changes in your net worth can necessitate changes in your insurance needs. Get the peace of mind you seek by reviewing and updating your insurance. ## Bring Your Estate Planning Up to Date If you don’t have a will or a plan for your estate, you may experience financial stress. If you’ve never created a will, today’s as good a day as any to start the process. If you currently have a will, make sure it is up-to-date and includes all of your current assets. [Estate planning](https://www.altusfinancial.com.au/ensure-my-estate-is-planned-and-taken-care-of) is not only helpful for the distant future; it also helps you to reduce your financial stress today. With a good understanding of how your finances are structured and protected, you can move forward with confidence, knowing you’ve done your best to protect your loved ones. To learn more about how you can overcome your financial stress, [reach out to us](https://www.altusfinancial.com.au/talk-to-us) at Altus Financial. We can work together to guide you on a path toward a prosperous financial future free of anxiety. [![New call-to-action](https://no-cache.hubspot.com/cta/default/512115/79434ba0-72aa-4fd6-ad75-bf4bd10e46a8.png)](https://cta-redirect.hubspot.com/cta/redirect/512115/79434ba0-72aa-4fd6-ad75-bf4bd10e46a8) ### **Could Your Business Benefit from an Outsourced CFO?** Set your business on the right path with this simple guide. [Access the Guide](https://www.altusfinancial.com.au/cfo-landing-page) ![Could Your Business Benefit From an Outsources CFO_Resources](https://www.altusfinancial.com.au/hs-fs/hubfs/1.Offers/Could%20Your%20Business%20Benefit%20From%20an%20Outsourced%20CFO/Could%20Your%20Business%20Benefit%20From%20an%20Outsources%20CFO_Resources.jpg?width=582&height=386&name=Could%20Your%20Business%20Benefit%20From%20an%20Outsources%20CFO_Resources.jpg) ## Financial insights you won’t delete. 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[Access the Checklist](https://www.altusfinancial.com.au/prospective-business-owner-succession) ![Business Owner - Succession Checklist_Resources](https://www.altusfinancial.com.au/hs-fs/hubfs/1.Offers/Business%20Owner%20-%20Succession%20Checklist/Business%20Owner%20-%20Succession%20Checklist_Resources.jpg?width=581&height=386&name=Business%20Owner%20-%20Succession%20Checklist_Resources.jpg) #### Featured authors [Adam Montana](https://www.altusfinancial.com.au/blog/author/adam-montana) [See all articles](https://www.altusfinancial.com.au/blog/author/adam-montana) [Alex Bouris](https://www.altusfinancial.com.au/blog/author/alex-bouris) [See all articles](https://www.altusfinancial.com.au/blog/author/alex-bouris) [Alex Thomaschuetz](https://www.altusfinancial.com.au/blog/author/alex-thomaschuetz) [See all articles](https://www.altusfinancial.com.au/blog/author/alex-thomaschuetz) [Altus Team](https://www.altusfinancial.com.au/blog/author/altus-team) [See all articles](https://www.altusfinancial.com.au/blog/author/altus-team) ###### Have a question for Matt Smith? Connect with the author of this post and they'll get back to you. [Send a message](mailto:matt.smith@altusfinancial.com.au) ![close (1)](https://www.altusfinancial.com.au/hubfs/Altus_LP_Images/close%20(1).svg) #### Related Insights [Wealth](https://www.altusfinancial.com.au/blog/topic/wealth), [Super](https://www.altusfinancial.com.au/blog/topic/super), [Tax](https://www.altusfinancial.com.au/blog/topic/tax) - 9 min read ##### [Division 296 tax: what high-balance super members need to do now](https://www.altusfinancial.com.au/blog/division-296-tax-what-high-balance-super-members-need-to-do-now) [Wealth](https://www.altusfinancial.com.au/blog/topic/wealth), [Budget](https://www.altusfinancial.com.au/blog/topic/budget), [Risk](https://www.altusfinancial.com.au/blog/topic/risk) - 5 min read ##### [Rising Insurance Premiums: What’s Really Going On, and What You Can Do About It](https://www.altusfinancial.com.au/blog/rising-insurance-premiums) [Wealth](https://www.altusfinancial.com.au/blog/topic/wealth), [Strategy](https://www.altusfinancial.com.au/blog/topic/strategy), [Investments](https://www.altusfinancial.com.au/blog/topic/investments), [Asset Protection](https://www.altusfinancial.com.au/blog/topic/asset-protection) - 5 min read ##### [The Asset Allocation Life Cycle: How to Live Through Your Investment in 4 Key Stages](https://www.altusfinancial.com.au/blog/the-asset-allocation-life-cycle-how-to-live-through-your-investment-in-4-key-stages) [Wealth](https://www.altusfinancial.com.au/blog/topic/wealth), [Strategy](https://www.altusfinancial.com.au/blog/topic/strategy), [Growth](https://www.altusfinancial.com.au/blog/topic/growth), [Investments](https://www.altusfinancial.com.au/blog/topic/investments), [Budget](https://www.altusfinancial.com.au/blog/topic/budget) - 9 min read ##### [5 Australian Money Books Every Investor Should Read](https://www.altusfinancial.com.au/blog/5-australian-money-books-every-investor-should-read) ## Financial insights you won’t delete. 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