Financial worries and mental health
Financial worries can be a significant source of stress for many people and can have a profound impact on mental health and well-being.
How can they affect you?
Financial worries can impact various aspects of life:
- Emotional Well-being: Financial stress can lead to feelings of anxiety, depression, helplessness, and shame. It can cause persistent worry about money, sleep disturbances, and irritability.
- Physical Health: Chronic stress from financial worries can manifest as physical symptoms such as headaches, muscle tension, digestive issues, and weakened immune function.
- Social Functioning: Financial worries can strain relationships, lead to social withdrawal, and impact social activities and participation due to concerns about affordability.
- Cognitive Functioning: Financial worries can impair concentration, decision-making abilities, and memory, affecting performance at work or school.
How to manage financial worries
Managing financial worries and mental health involves a combination of strategies:
- Financial Planning: Create a budget, prioritise expenses, and develop a plan to manage debt and expenses.
- Self-Care: Practice stress-reduction techniques such as mindfulness, meditation, deep breathing exercises, or yoga. Engage in activities that promote relaxation and well-being.
- Seek Support: Talk to friends, family members, or a mental health professional about your financial concerns. Sharing your worries can provide emotional support, perspective, and practical advice.
- Problem-Solving: Identify concrete steps you can take to address financial problems, such as seeking additional income, negotiating payment plans with creditors, or accessing financial assistance programs.
- Set Realistic Goals: Break down financial goals into smaller, achievable steps. Celebrate progress and milestones along the way to build confidence and motivation.
- Access Resources: Take advantage of resources and support services available in the UK, such as debt advice charities, mental health helplines, support groups, and community services.
Where to get help
- NHS Services: The National Health Service provides mental health services, including assessment, therapy, and support for individuals experiencing financial stress.
- Debt Advice Services: Organisations like Citizens Advice, StepChange, and National Debtline offer free and confidential debt advice, budgeting support, and debt management plans.
- Local Community Support: Many local councils offer support services, community programs, and resources to help individuals facing financial difficulties and mental health challenges.
If you or someone you know is struggling with financial worries and mental health issues, seeking help and support is essential. Remember that you’re not alone, and there are resources and professionals available to assist you in managing financial stress and improving mental well-being.