We’re nearing a financial burnout crisis. And it’s only getting worse

Between interest rates, inflation, the budget, ongoing global instability and volatile share markets, it feels like every time you try to so much as blink or draw breath right now, something new – and potentially stress-inducing – is happening in the economy.

And all of that’s before you even get to everyday real-world issues like how worried you need to be about the fuel excise wrapping up in a month’s time, grocery and utility prices remaining high, health and home insurance premiums rising and school fees getting more expensive each year.

We are expected to be on top of our bills, know if we’re with the best energy provider and where to get the cheapest petrol from, put away enough money for that next holiday, manage our share portfolios and ensure they’re diversified enough, have regular check ins with our partners about how goals are tracking, and get across recently announced changes to things like capital gains tax, negative gearing and the NDIS – all while trying to balance every other aspect of our lives.

For some people, this inundation of information might be water off a duck’s back. But even for me, as someone who works in the finance industry, there are days when the sheer volume of information, competing factors and considerations feels completely and utterly overwhelming.

If you know the feeling I’m referring to, you might be suffering from something called financial burnout.

Burnout is something that’s gained a lot of traction recently, especially during and after COVID-19, and generally, it refers to experiences tied to our work or workplaces. Though it’s not a recognised disease and there is no formalised diagnosis, burnout refers to a syndrome that can come from chronic or long-running stress.

Per the Butterfly Foundation, symptoms of burnout can include things like feeling isolated or trapped, appearing more irritable than usual, having a lack of energy or motivation, a persistent or lingering sense of stress, a struggle to sleep or experiencing a change in sleeping patterns, a drop in general happiness or satisfaction, being disengaged or experiencing headaches and physical discomfort.

Financial burnout is much the same, in that you’re likely to experience the same or similar symptoms, but rather than being brought on by work, they are specifically linked to your financial situation.

The unfortunate thing about this kind of experience is that much like a workplace, many things can lead to financial burnout. You could be going through a particularly stressful experience like a divorce or trying to get on top of debt, but it ma