Debt and mental health problems, be they caused by redundancy, bereavement, relationship breakdown, abuse or just naturally occurring, are rarely talked about but very common. The link between mental health issues and debt is also rarely discussed. When debt mounts up, so does stress and anxiety.
Research by the Money and Mental Health Policy Institute has shown that mental health problems can also make it difficult to deal with money day-to-day. They can affect your motivation, judgement and income, as well as your ability to do things like make calls or open post.
Here is a great Mental Health and Debt Guide
It talks about:
- Analysing the problem
- Getting debt help
- Working with the banks
- Approaches to treating mental distress
- How others can help
and more useful information.
This guide is not only aimed at people experiencing mental health problems but friends, family and carers who want to help them tackle their finances.
Throughout the guide, there are tips to start taking small steps to cut your debt. It includes real-life case studies to illustrate that you are not alone. Hopefully, their experiences of escaping from debt may give you hope that you can do the same.
Our award-winning Money Advice Team is also here to help! Our specialist team are training to tackle debt, we can redress the balance so that you are back in control.
