Emotional health

When we think of wellbeing, we usually think physically and mentally but there is another important aspect to add to the mix, financial wellbeing. Financial wellbeing is a term used to describe our ability to confidently manage our money, how prepared we are for the unexpected, and how we can save and plan for the future. It is an aspect of wellbeing that is often overlooked, but financial wellness can dramatically impact our quality of life. Financial difficulties can impact anyone including accountants. Here we look at financial wellbeing, its impacts on our mental health, and how we can improve our financial wellbeing. Financial Wellbeing and Mental Health With the current economic factors at play, financial worries are a main concern for the vast majority of the population and financial worries can have a major impact on our mental health. While it is true money can’t buy happiness, multiple studies from around the world show that finances are one of the most common causes of stress and anxiety, which can impact our health, work, relationships, and many other aspects of our life. According to research conducted by PWC, almost half of Irish consumers are concerned about their personal financial situation. A national survey carried out by Aware found that financial worries were the number one cause of concern with 57% stating it was impacting their mental health. Laya healthcare’s workplace wellbeing index found that of the one in four people who reported poor mental health, two-thirds cited financial concerns as the cause, more than any other problem. These few figures highlight just how prevalent financial concerns are and how much of a toll they can take on our mental health. Feeling anxious, experiencing low mood, or losing sleep if you are struggling to control your finances is a totally normal response but in the long term can have a devastating impact on our lives, even fuelling and escalating our financial trouble.    How to invest in your financial wellbeing If you want to ease money worries or simply want to feel more in control of your finances, there are thankfully many simple and easy ways to do just that. Spending sprees The first step is to look at your current spending habits and identify just where your money is going. By reviewing your bank and credit card statements, you can tally your outgoings and expenses. Categorise the type of spend into different groups, this can help you identify areas where you may be overspending and where you can make changes. We can all overspend sometimes or have weeks that are more expensive, but when it becomes a habit, it can be hard to break.  By tracking your expenses, you can get a better overall picture of your spending habits and triggers. Money aspirations Write down your financial goals and consider what you want to achieve in the short and long term, this could be clearing off a credit card, buying a house or building a rainy-day fund. Having financial goals give you a clear objective to work towards and can help keep you motivated to save and stay on track. Budget   Creating a monthly budget is a sure-fire way of getting control of your finances. Figure out the amount that goes on your essentials expenses and then budget for the week and month ahead. For help with this, there is a wealth of free online budgeting tools and templates at your disposal. In debt to you Once your budget is going to plan, if you have accrued any debt now is the time to begin clearing it. Sort your debt from the highest interest rate to the lowest interest rate and use any extra cash to begin clearing off these debts, starting with the higher interest rate and continue moving your way down the rates.   Saving grace It can feel like any money you earn is eaten up by expenses and there is simply no money left for saving. Even when money is tight, it is important to begin setting money aside for the future. If you don’t already, set up a savings account and transfer any remaining money over at the end of the month. Even if it is just small change. Or another approach, termed ‘paying yourself first’ is set up an automatic transfer of money into your savings account as soon as you get paid.   Seek advice If financial troubles persist despite your best efforts, you may consider seeking external financial advice. A financial advisor can view all aspects of your financial wellbeing with you and identify areas and aspects where you can make changes. Supports available to you A common misconception is that financial professionals should be in good financial health due to their professional background. However, like anyone in society, accountants from all walks of life can struggle with poor financial wellbeing for a multitude of reasons. From the work of CA Support, we see the causes and impact financial difficulties have on chartered accountants. Perhaps a period of illness, unemployment or upheaval has created a financial burden and we know financial problems can often deteriorate quickly. If you are struggling with financial difficulties, CA Support provides emergency assistance to Institute members, students and families experiencing turmoil. Or if you are in a healthier position, you may consider donating to CA Support to help support members and families in our community who are less fortunate. Improving your financial wellbeing can take time and effort but by building small and healthy habits, you can alleviate money-related stress and anxiety. However, if you are struggling with any emotional toll, the Thrive wellbeing team is also here to help.

Retirement doesn’t mean you have to scale back on how active you are. If anything, you can be busier than ever, thanks to the wealth of opportunities that are out there. Part-time jobs and volunteering are great for helping you stay busy if you’re retired. Not all retirees want to just put their feet up and relax. They don’t necessarily just want to spend their retirement pursuing their hobbies or pastimes either. There are many more activities out there to help keep them busy and give them more of a purpose. What’s more, not everybody who retires can afford to live off their savings and pensions. Part-time jobs are ideal for providing the additional income that’s needed to supplement savings and pensions. Believe it or not, there are numerous opportunities - paid and voluntary - available to retired people these days. In fact, some retirees even go on to start a brand new career! Retirement doesn’t have to be restrictive. Focus on how you want to spend it and what you need to do in order to achieve your goals within the next chapter of your life. Types of part-time work Self-employment If you’re considering working for yourself, but aren’t sure what to do, then start by considering your hobbies. Whether it’s crafts, furniture restoration, gardening, or DIY, lots of people set up small businesses and start new part-time or self-employed careers when they retire. Given the digital era in which we now live, the internet has opened up so many doors. This means that if you used to be a secretary, you could provide remote typing or bookkeeping services to companies who don’t have the resources to employ a full-time member of staff to carry out this work. Alternatively, you may enjoy car boot sales and have an eye for a bargain that you can easily resell online, making yourself some extra money in the process. The options, and opportunities, are endless! If you quite like the idea of working for yourself, make a list of all of your skills, personal qualities and interests. This will enable you to see if there’s a gap in the market you can tap into. The additional income you make will also help with your financial budgeting and retirement planning. Staff employment By law, older workers, who may have retired or be close to retirement, should not be categorised into doing certain types of work. Anti-discrimination legislation means that retired people, or those nearing retirement, can continue in the jobs they have done for most of their working life way beyond conventional retirement age. Because it’s unlawful to discriminate on the grounds of age, you should have the same chance of gaining employment as everybody else. What about ex-work colleagues? Networking provides you with possibly the best chance of finding work if you want to continue working part-time within your chosen field. Most people are familiar with the likes of B&Q and Tesco, who have long maintained a policy of actively encouraging retired people to work. However, all companies now need to also take a proactive approach to considering older applicants when it comes to their recruitment processes. Voluntary work Sometimes, people who have retired, simply want to give something back and help others, so get involved with voluntary work. They can do this by themselves or with their partner if they’re retired too. There are many benefits to volunteering for all involved. For retirees, it’s a chance to make new friends and learn new skills. It can also be incredibly rewarding, as well as provide you with some purpose and structure to your day. Taking part in voluntary work is both mentally and physically rewarding. It has been recognised for helping combat depression, boosting self-confidence, staying fit and healthy and cultivating happiness, among numerous other things. Many charities and volunteer groups actively encourage retirees to get involved due to their maturity; wealth of experience and enthusiasm for the cause: charity shops are always on the look-out for staff, or perhaps a voluntary organisation can make use of any administration skills you may have if you enjoy physical labour and working outdoors, there are countless voluntary projects related to conservation out there you may want to take on an active role within your local community, so you could become a local councillor if you’re a good communicator and ‘people person’, helping out with disadvantaged young people or providing telephone support via the Samaritans might be just the thing for you if you drive, you may be able to find work collecting the clothes bags that are left out for charities or by taking people to and from hospital Your local council, local newspaper and library are good places to start enquiring about voluntary work. There are also plenty of online resources too. Simply type into a search engine (e.g. Google) 'voluntary work' in your local region. Volunteering is an opportunity for you to be involved in something you really enjoy doing. Whether it’s a hobby or continuing your previous role or existing voluntary work. A final few words about staying busy during retirement Retirement doesn’t have to mean staying in and having minimal interaction with people. There are numerous different avenues you can explore, from starting a self-employed business based on your hobbies and interests and taking part in voluntary work, to still working for an employer on a part-time or job share basis. The more you search for ways to spend your retirement, the more we guarantee you’ll find…. For advice, wellness coaching or counselling, contact the team by email at: thrive@charteredaccountants.ie or by phone: (+353) 86 0243294. Article reproduced with the kind permission of CABA, the organisation providing lifelong support to ICAEW members, ACA students and their close family around the world.

Strong social connections not only impact our mental health but our physical health too. Feeling socially connected is more important than ever, especially after a long period where our social interactions were restricted, and our close circle reduced. Here, Thrive discusses the importance of maintaining and prioritising our relationships for our overall health. We're designed to be social We all know that comforting upbeat feeling of human connection, when you come away from a catch up with friends feeling more positive, happier, and even lighter. As a species, human beings are inherently social creatures.  We are biologically wired to seek out connection from a time where humans hunted in tribes and being part of a group was necessary for survival. Humans need closeness, connection, and a sense of unity to thrive. Social connection is one of our core psychological needs which means it plays an essential role in how safe and satisfied we feel in our lives. Social groups provide us with an important part of our identity, forming who we are and teach us a set of skills and norms that help us to function throughout life. In today’s world though we lead increasingly busy lives trying to juggle and balance work, family, and other commitments. Often our friendships can fall to the wayside. However, strong connection and belonging to something bigger than ourselves are important for our overall health and wellbeing. The benefits of connectedness should not be overlooked, and therefore as a society we should be placing greater emphasis on investing in our friendships. The more connected we feel to other people, the more enriched our life becomes. Friendship and being part of a social group offer a variety of mental health benefits. It increases our feeling of belonging, boosts our sense of purpose, and improves our self-worth and confidence. Connectiveness helps us regulate our emotions, leads to higher levels of empathy and compassion, and can even reduce our stress levels. Studies show that people who feel connected to others report lower rates of anxiety and depression. Not only does good social connection impact our psychological wellbeing, its impacts our physical health as well. Countless studies have shown a lack of human connection and feelings of loneliness are more harmful to our health than obesity, smoking and high blood pressure. By neglecting our need to connect, we put our health at risk. It can even lengthen our lives. Extensive research that looked at the lifestyles of inhabitants within Blue Zone areas, a term given to geographically regions that are home to some of the world’s oldest people, found healthy social networks and high levels of community engagement were commonalities among the differing zones. Our relationships and social groups can alter the course of our life, shape the person we are and can change our perception of ourselves and the world as well as offer an important support system.  So as you can see, social connectedness creates a positive cycle of good social, emotional and physical wellbeing. To forge happy and healthy relationships, it is very important we continually attend to and nurture our connection with the people we consider important in our lives. After an incredibly long period where our social interactions were restricted and ultimately reduced, you may find your sense of connection has diminished. Here are some ways you can improve your social health and reignite your connection with others; Reach out to a friend you may have lost touch with or haven't seen in a while, remember it’s never too late to spark up an old friendship! Join a new club or try out a group activity: focus in on your interests and you’ll be sure to find a club or group full of like-minded people. Volunteer: this can strengthen your sense of purpose, provides an opportunity to meet new people and give back to your community. Invite a co-worker out for lunch: In-office days are great for connecting with your co-workers. Why not reconnect with your favourite work colleague or arrange a work group activity. Spend quality time with family: this could be planning a family BBQ, a movie night on the weekend or a family day out. Be Present: Step away from your devices when you are in company and have an uninterrupted chat. Social isolation is a challenging aspect of life to cope with and is detrimental to your health, please know the Thrive team is here to lend a friendly ear, if and when you need it most.

We all experience periods in life that contribute to increased stress levels and anxiousness. Be it exams, a work deadline looming, moments of uncertainty, crisis, or big life events.  However, it is how we cope through life’s ups and downs that is important. Maintaining good wellbeing is a crucial aspect of living that can help us endure and cope with periods of stress instead of floundering or struggling to cope effectively. And breathe… In moments of stress or anxiety our breathing patterns change.  You might notice your breath is shallow, out of sync or you might find yourself holding in your breath at times. This creates a vicious cycle as out of control breathing is caused by stress but also causes stress, prolonging the symptoms and making them worse.  Whereas deep, controlled breathing has the opposite effect. A slow and steady inhalation and exhalation signals the parasympathetic nervous system to calm the body down. As our breathing is an automatic, unconscious, habitual function of the body, we might not even notice how we are breathing. Therefore, it is important to tune into your breath.  There are countless breathing techniques which helps relax the body and mind, but the general aim is to shift from quick, shallow upper torso breathing to a slow, deep abdominal breath.  Take a minute to focus on your breathing and its pattern. Then place your hand on your stomach and strive to feel the abdomen expand and contract as you breathe in and out. Pay attention to how you feel after engaging in this breathing technique, you are sure to feel calmer.  Food for thought  We all know the tendency to comfort eat when feeling stressed or emotional and it can be tempting to seek out sugary, high calorie, high fat foods for instant gratification or out of sheer convenience. This response however only works in the very short term and again can aggravate our stress levels.  Stress and anxiousness can create digestive and gut issues. Simple things like drinking more water to stay hydrated, reducing your caffeine intake and eating three balanced meals each day can help. Stress can leave your energy reserves depleted and low on essential vitamins and minerals.  Consume plenty of wholesome food that is rich in good nutrients.  Foods high in Vitamin C are understood to reduce anxiety levels while green leafy vegetables and nuts are high in magnesium which can regulate our stress hormones.  Rest and digest  For our brain to function optimally it needs rest and this responsibility falls to the parasympathetic nervous system, also known as the rest and digest system. The parasympathetic nervous system slows our stress response by releasing hormones that relax the mind and body and is where digestion, detoxifying and healing occur.  To activate the rest and digest system, there is no other option but to relax. For some that is mediation, practising yoga or indulging in some self-care.  Self-care has become a popular notion in recent years, but it is not all bubble baths and face masks. Forms of self-care can be spending time in nature, exercising, reading, journaling, colouring, tidying your surrounds or spending time with loved ones. Simply put, self-care practises are tools to help ease our response to stress and enhance our body and mind’s ability to rest, reflect and replenish.  It is important to also take regular breaks throughout the day, a brief pause in momentum allows the brain space to think and process information and brings clarity that helps you feel in control and ultimately reduce stress.  Get some ZZZs The power of sleep to regulate our stress levels should not be underestimated. Stress and anxiety can lead to sleeping problems and a lack of sleep can affect your general wellbeing – again another vicious cycle we can find ourselves in.  When we are not getting enough sleep, it is more difficult to regulate our mood, emotions, and reactions, can affect our concentration, memory and even lead to poor decision making. It’s not always possible to get as much sleep as we would like, generally we should be aiming for at least 5 hours of sleep a night but ideally, we should aim for 7-8 hours. To feel well rested, it is important we develop habits and routines that aid our ability to drift off.  Create a healthy sleep routine by going to bed and getting up at the same time every day, avoid lie ins and naps that can then disrupt our natural sleep cycle.  Start your own personal wind down by creating a night-time routine that you then begin to associate with sleep. It can be as simple as brushing your teeth and washing your face, developing a night-time skincare routine, reading a book or stretching.    This is one of the harder habits to develop but try to limit your use of technology an hour before bed. Our devices keep us awake and stimulate the brain through the activity itself but also from the blue light emitted from the screen. Most phones these days have a blue light filter and can be scheduled to switch on at a certain time.  Thrive is the Institute’s dedicated wellbeing hub which provides emotional and practical support to our members, students and their family members for life. Should you find yourself in a difficult situation, the team at Thrive can help steer you through life’s ups and downs. Talk to us today on mobile: (353) 86 024 3294 or email us.

Burnout is no longer just an HR issue—it’s a leadership imperative. Here Niamh Manning, Marketing Executive for the Thrive Wellbeing Hub, explores how proactive, empathetic management can break the burnout cycle and build resilient, high-performing teams. Burnout has become one of the most pressing issues in the modern workplace, particularly for professional service industries where long hours, high-performance expectations, deadlines and client demands are quite typical. A work culture that prides itself on values of resilience, dedication and hard work can make burnout difficult to spot. While many organisations have HR policies and programs to combat burnout, it is managers who are often the cultural lynchpins and can be an impactful line of defence to break the cycle. It’s their ability to recognise and respond that can determine whether a team thrives or fractures. Managing burnout isn’t just a people issue – it’s a business-critical issue. A burned-out team are more prone to errors, more disengaged, and have low morale, resulting in an increased staff turnover and decreased client satisfaction. The manager toolkit: prevention through proactive leadership Understanding burnout Burnout doesn’t always look dramatic, and many suffer in silence, afraid to speak up fearing it could impact their career growth or be seen as a weakness. It often hides behind professionalism and a strong work ethic, but there are tell-tale signs. Burnout is a state of emotional, physical, and mental exhaustion caused by prolonged or excessive stress, often linked to work but also present in other areas of life. Burnout generally manifests itself in three key dimensions: emotional exhaustion, cynicism and lack of personal accomplishment. This can present in many ways such as reduced attention to detail, irritability or frustration, withdrawing from team collaboration, decline in responsiveness or reliability, or even overworking. As managers get a sense of employees from their daily interactions, they are uniquely positioned to detect behaviour changes and early signs of burnout and make meaningful interventions and changes, but only if they are equipped and empowered to do so. Modelling healthy work habits Leaders set the tone for what is acceptable and expected in the workplace, particularly for younger employees. Modelling healthy boundaries and habits such as logging off at the end of the normal working day, taking breaks and switching off when on annual leave allows employees the space to do the same. However, it is also important to be realistic that some busy periods with high workload volumes are often unavoidable; equally, it is important to know that burnout rarely arises from a busy period – it stems from sustained, unmanaged stress with little or no room for recovery. Psychological safety An integral aspect of high-performing teams and the foundation for creating a culture of wellbeing and productivity, psychological safety in a group involves individuals feeling safe to speak up and share their views and ideas without the fear of negative consequences. Managers can foster this sense of safety by intentionally creating an environment where team members feel safe raising concerns. This can be done in easy and practical ways such as encouraging open dialogue, creating space for feedback, actively listening and modelling vulnerability and empathy. Regular ones-on-one meeting is the perfect way to talk about project updates but also to check in on workloads, stress levels and the employee as a person. Reduce ambiguity, encourage growth Ambiguity and stagnation breeds anxiety. Those with undefined expectations and/or little autonomy in their roles are more susceptible to the effects of burnout. Managers must ensure that employees understand their responsibilities and how they contribute to the wider goals – clear expectations reduce cognitive load and allow employees to focus and prioritise their energies. Managers should encourage autonomy and growth by involving team members in decision-making, providing opportunities for skill development and encouraging ownership of project and duties. When people feel like they’re growing and contributing to something meaningful, they can become more resilient. Recognition and appreciation Reinforcing a sense of value and accomplishment in individuals and teams can help prevent burnout. Managers should regularly acknowledge team members’ efforts and accomplishments. Feeling seen and appreciated can go a long way in encouraging and providing meaning and purpose to team members. Managing burnout when it happens Despite best efforts, however, burnout does occur. When it does, the focus should shift to recovery and retention by allowing employees affected to step back without pressure and temporarily lighten their workload to allow for recovery. Burnout is a leadership issue Managers should not be expected to be therapists, but they are expected to lead and they can be influential agents of change. Despite this pivotal role, many managers are usually not trained to recognise or address burnout. Employers have a responsibility to invest in leadership development that includes emotional intelligence, mental health literacy, and coaching skills. Managers are the conduits of an organisation’s culture. When they are empowered to lead with empathy, clarity, and care, they can transform the workplace from a source of stress into a source of strength. A manager who prevents burnout is not only protecting their team’s health but also preserving the organisation’s long-term resilience and success. If you are experiencing burnout or looking to support someone with burnout, Thrive is the Institute’s dedicated wellbeing hub that can provide advice and support. For additional advice and manager resources, check out CAW’s Wellbeing Toolkit for managers in the accountancy profession.

Summer is in full bloom - schools closed, the days warmer and longer and schedules slow down - making it the perfect time to foster good wellbeing practices. Here, Chartered Accountants Ireland’s Intern, Sophie King, outlines how you can focus on wellbeing this summer.  We all know taking care of ourselves is important, but between work, family and life, it’s not that easy. Wellbeing and self-care can seem like buzzwords, just thrown around to make things more appealing, but it is so important to look after ourselves and our mental health. Self-care is an essential aspect of maintaining overall wellbeing. By prioritising self-care, we can improve our mental and physical health, increase resilience, and enhance our quality of life. Check out the techniques below that could be your new favourite! Relaxation techniques Relaxation techniques are an effective way to reduce stress and anxiety. Deep breathing exercises and mindfulness meditation can help calm the mind and body. Progressive muscle relaxation is a relaxation method that is not often talked about, it is a technique that involves systematically tensing and then releasing different muscle groups in the body to promote relaxation. This method helps individuals become more aware of the difference between muscle tension and relaxation, ultimately reducing overall stress and anxiety. Have a go at this technique, all you have to do is tense and then slowly release each muscle group in your body, starting from your toes and working up to your head. These techniques can be practiced anywhere, at any time, making them a convenient addition to your daily routine. By incorporating relaxation techniques into your daily life, you can better manage stress and improve your overall wellbeing. Hobbies and Interests Engaging in hobbies and interests can bring a sense of purpose and enjoyment to your life. Whether it's painting, playing music, or gardening, making time for activities you love can help reduce stress and increase feelings of happiness. It can be easy to let ourselves get overwhelmed by work and life, but engaging in something that interests you can distract you from these stresses and recentre the mind. Don’t be discouraged if you try a new hobby and it does not go your way at first, perseverance is key! Learning new skills or improving your hobbies can grow your confidence and self-esteem. Hobbies and interests can also provide opportunities for social connection and personal growth, further enhancing your overall wellbeing. Unwinding with a Relaxing Bedtime Routine A consistent bedtime routine can help signal to your body that it's time to sleep, improving the quality of your rest. Activities like reading, taking a warm bath, or practicing gentle stretches can help calm your mind and body, preparing you for a restful night's sleep. By prioritising a relaxing bedtime routine, you can improve your sleep hygiene and wake up feeling refreshed and revitalized, because no one can be positive when they are tired, no matter how much coffee they consume. The Benefits of Gratitude Journaling Gratitude journaling is a powerful tool for cultivating a positive mindset. By reflecting on the things you are grateful for each day, you can shift your focus away from stress and anxiety and towards the good things in your life. This practice can help increase feelings of happiness and wellbeing and can even improve your relationships with others. To use it effectively, write down three things you are grateful for each day. This helps shift focus to positive aspects of your life. The Kindness Connection Engaging in acts of kindness can have a profound impact on both the giver and the receiver. Whether it's volunteering, donating to a good cause, or simply offering a kind word to someone in need, acts of kindness can increase feelings of empathy and compassion. Engaging in acts of kindness can release endorphins or “feel good hormones,” additionally, practising acts of kindness can increase your feelings of compassion and understanding towards others. By incorporating acts of kindness into your daily life, you can cultivate a sense of connection and community, further enhancing your overall wellbeing. It can be hard to get into this mindset, so start small, open the door for someone, or hold the elevator. The trick is to be consistent; in doing so you make it a habit, and it becomes part of your daily routine. When you get in the mindset, you will automatically look for opportunities to help others, whether it’s at work or at home. So, pay attention to the impact your kindness has on others and on yourself, it might just make your day. Prioritise your wellbeing By incorporating these self-care practices into your daily life, you can take a proactive approach to nurturing your mind, body, and soul. Whether it's relaxation techniques, hobbies and interests, a relaxing bedtime routine, gratitude journaling, or acts of kindness, there are countless ways to prioritise your wellbeing. By making self-care a priority, you can improve your overall quality of life and cultivate a deeper sense of happiness and fulfilment. This article was written by the Institute's DCU Intern, Sophie King, on behalf of Thrive. Sophie is currently studying Communications in DCU. In partnership with DCU's Access to the Workplace programme, the Institute hosted Sophie as part of its professional summer internship placements.  For more advice or information, contact the team by email at: thrive@charteredaccountants.ie  or by phone: (+353) 86 0243294.