Debt and Mental Health: Support When Money Worries Take Over

Money worries can feel all-consuming — but however serious your situation looks today, there is a way through it, and free, expert, non-judgemental help is available. You do not have to face debt or your mental health alone.

How are debt and mental health connected?

A study by the Mental Health Foundation found that one third of UK adults worry about their finances. People in financial difficulty are at increased risk of mental health problems such as anxiety and depression, and of lower mental wellbeing.



The link runs deeper still. Economic and financial worries are associated with higher suicide rates: each year in England, over 420,000 people in problem debt consider taking their own life, and more than 100,000 people attempt suicide as a result of money problems.

Behind those numbers is a vital truth — debt is a practical problem with practical solutions, and the despair it causes lifts when people get the right help. Advisers see situations like yours every day, and they can help you find a way forward.

Where can I get free debt advice in the UK?

If financial worries are having a significant impact on your daily life, these organisations can help:

• Money Helper — guides and tools to improve your finances, with online support and telephone advice on 0800 011 3797.
• National Debtline — free and independent debt advice online and over the phone on 0808 808 4000.
• StepChange — free online debt advice and practical debt solutions.
• Citizens Advice — information on dealing with debt, benefits and redundancy.
• PayPlan — works closely with creditors, employers and the advice sector to help people access free, regulated debt advice.
• Mental Health Foundation — useful tips on looking after your finances and your mental health, including a helpful FAQ section on debt.
• Mind — help with organising your finances, claiming benefits when you have a mental health problem, dealing with services, and looking after your mental health when you're worried about money.
• Quaker Social Action — works alongside people on low incomes to find solutions to the issues affecting their lives.
• Tips for pensioners — read the helpful article by Tom Phillips of Equity Release Warehouse: "Tips for Pensioners for Surviving the Cost of Living Crisis".
  

What can I do today?

• Talk to someone — a free adviser, a trusted friend, or your GP if your mental health is suffering
• Don't ignore letters; advisers can help you respond and negotiate with creditors
• Deal with priority debts (rent, mortgage, energy) first — an adviser will help you work out which is which
• Be kind to yourself: debt can happen to anyone, and asking for help is a strength

If losing work is part of the picture, our I've Lost My Job page includes our "6 steps to keeping on top of your anxiety" and a list of support networks for your mental health.

There is hope — and help

However stuck things feel, there are routes through that you may not have been told about — and free, expert advisers who deal with situations like yours every day. Reach out to one of the services above, or contact The Jordan Legacy at hello@thejordanlegacy.com.

If money worries are affecting your will to keep going, please visit I Need Help Now — things can get better, and you matter.