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COVID-19: Have you been financially impacted? We can support you.

With the ever evolving COVID-19 situation and it's impact on society, many are facing into a reduction in work hours, temporary stand downs and / or job loss. With so much uncertainty, it's natural to feel overwhelmed and unsure about the future.

Below you'll find some practical tips, insights and a summary of potential financial support during this challenging time.

Helping your financial security

If your financial situation has changed because of job loss or a reduction in income, it's important to get a clear picture of your financial position. There are some actions you can take to understand your income and spending. They will help you understand where you can modify your budget and spending habits.

  • Use our cost-cutting checklist (PDF 191KB) to review where you can cut expenses for the short term (for example, gym membership, streaming services, takeaway meals, etc.)
  • Find out what you have in savings and list every expense you’ll have to meet for the next three months – a Budget planner (PDF 718KB) can help you manage your cash flow.
  • If you’re under 65 and actively looking for new employment, you may be eligible for Jobseeker Payments. If you’re aged 65 or older, you can review your eligibility for the Age Pension.
  • Check your insurance policies and speak with your insurers to confirm any potential cover.
  • Talk to all lenders and utilities services with which you have arrangements if you feel you may get into financial difficulty. They may be able to help during this period.
  • You can also reach out for free, confidential financial counselling services offered by community organisations. If you require legal advice, there are free services available through community legal centres and Legal Aid offices in each state and territory. The Financial Rights Legal Centre, which is national, provides a debt helpline and plenty of useful resources.

Financial Assistance Options

If you are experiencing financial difficulty due to Covid-19, we may be able to provide a tailored solution that will give you the support you need to get back on track. Please visit our financial assistance page for more details and to apply.

Find out more

Managing financial hardship

You’re not on your own. We may be able to help you find ways to manage your Westpac debts and other financial commitments through this period of unemployment. We can also help you apply for financial hardship. Please call Westpac Assist on 1800 067 497 or see our Financial hardship FAQs to help you find the financial support you may need online.

Prioritise your well-being

Your mental and physical well-being can suffer with anxiety and worry when you experience job loss. This is a time in which most of us will worry about the future.

It’s important to talk to your friends and family about how you’re feeling. Your GP can provide advice and referrals, including information about free counselling services.

If you’re struggling to cope and experiencing mental or emotional distress, call Lifeline on 13 11 14 or Beyond Blue on 1300 224 636, for support.

Make sure you get plenty of sleep. Exercise where you can, even if this means a YouTube work out in the lounge. Enjoy fresh air and healthy meals, and spend time with your loved ones (though this may currently be remotely) so you’re in the best place to commence the search for a new job when the time comes.

Preparing for your future job

Looking for a new job can feel daunting but being prepared can help. Times of crisis can often result in unexpected career pivots. Review your goals and aspirations and think about what you’d really like to do next. Talk to people you’ve worked with or know – word-of-mouth is the fastest foot in the door to an interview.

Things to do:

  • Explore our Job impact support guide (PDF 472KB).
  • Review your skills and achievements.
  • Look for online courses and seminars to upskill or retrain. These sites may help you find a suitable course.
  • Update your CV and LinkedIn profile.
  • Network online with people in your industry.
  • Set online appointments to meet recruiters.
  • Consider temporary, part-time work or casual work in essential services.

Other helpful resources:

  • Explore job opportunities on the Australian government’s Jobs Hub.
  • Contact your local council and community centres to learn about free services.
  • Contact Fair Work Australia for information on your rights after redundancy or loss of your job.
  • Think about volunteering. To find out how you can volunteer, even during these challenging times visit Volunteering Australia.

Unemployed in uncertain times?

We can help you manage your finances during this difficult time.

Find out more.

Getting back on your feet financially

Explore our resources and tools aimed at helping you recover and get back on track after tough times.

Find out more