Financial stress is crippling my career—How do I protect my family and my future?

The latest edition of  MaltaCEOs.mt’s Work and Wealth Watch series where Money Coach Luca Caruana gives his expert responses to all your questions related to money, work and wealth. Want to see your own questions answered on MaltaCEOs.mt? Send your questions on info@moneycoachinghub.com

Dear Luca,

I’ve always prided myself on being a top performer at work, the person everyone could rely on. But lately, I feel like I’m slipping, and it’s all because of the financial stress that’s weighing me down.

My wife recently had to stop working to care for our son, who has a condition that requires her full attention at home. Without her income, we’re struggling to make ends meet. The bills are piling up, and I don’t know how we’re going to keep up with the loans, and everyday expenses. I’m doing everything I can, but it never feels like enough.

This stress is starting to affect my performance at work. I’ve received a disciplinary warning, and I’m terrified that if I don’t pull myself together, I could lose my job—the last thing my family needs right now. But the truth is, I’m exhausted. I can’t sleep, and I’m constantly worrying about money. I feel like I’m failing my wife and children.

I’m too ashamed to talk about this with anyone at work. They see me as one of the best, and I don’t want them to see me as weak or vulnerable. But I feel like I’m at a breaking point. I don’t know how to balance providing for my family, handling this overwhelming debt, and trying to keep my career from falling apart.

How do I get through this without losing everything I’ve worked so hard to build?

Sincerely,
Feeling Broken

Luca’s Response

Dear Feeling Broken,

Financial stress is an immense burden, especially when it intersects with your responsibilities at work and at home. It’s clear that you care deeply about your family and your professional standing, and the weight of balancing both can be overwhelming. However, there are strategic steps you can take to tackle this challenging period without sacrificing your career or well-being.

Your fear of showing vulnerability at work is understandable, particularly given your reputation as a top performer. However, it’s important to remember that even the best professionals face personal challenges. Consider having a confidential conversation with your HR department. Frame the discussion in terms of your dedication to maintaining your performance despite personal circumstances. Many companies offer Employee Assistance Programs (EAPs) that provide financial counselling, stress management resources, and other forms of support that could be invaluable to you.

Given the current pressures, it might be necessary to reassess your workload. Identify the tasks that are critical to your role and performance metrics, and focus your energy on these areas. If possible, delegate or defer less critical tasks. This prioritisation will allow you to maintain your high standards where it matters most, without spreading yourself too thin.

Given the financial pressures you’re experiencing, consulting an experienced money coach can help you create a realistic plan for managing your debt and expenses. They can work with you to prioritise your obligations, explore refinancing options, and create a budget that aligns with your current income. This proactive approach will relieve some of the financial burden, allowing you to focus more effectively on your professional responsibilities.

This challenging time might also serve as an opportunity to reflect on your professional values and goals. Consider whether your current role and environment align with your long-term aspirations. Sometimes, financial strain can prompt a reassessment of career priorities, leading to new opportunities that are both professionally fulfilling and financially rewarding.

By taking these steps, you can regain control of your financial situation and protect your professional standing. Remember, asking for help is a sign of strength, not weakness. Your resilience, combined with strategic action, will see you through this difficult period.

Wishing you clarity and strength,

Luca,

The Money Coach, from the Money Coaching Hub

CEO & Founder of Monipal

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