Money problems and mental health issues are sometimes linked, with one causing or influencing the other. Money worries can affect your mental health and poor mental health can affect how you manage your money.

• You feel anxious about reading statements or checking your account balance;
• You’re worried about being able to pay bills or avoid opening important letters;
• Your sleep is disturbed because you’re thinking about money and finances;
• You feel low and anxious or feel that there is no way forward due to your financial situation; or
• You feel guilty after spending money.

If you are struggling with challenges like those listed above, we encourage you to visit your GP or contact a health care professional who can help.

• Build a budget: Budgeting can help you track the money you have coming in and going out. The budget planner tool on the MoneyHelper website takes around ten minutes to complete and analyses your results to help you take back control.
• Contact your mortgage lender: Let them know about your situation, they will have specialist teams who can listen and help you with your finances.
• Remove temptations: If you are feeling stressed, anxious, or depressed, you may spend more than you feel comfortable with. Try deleting shopping apps you often use on your phone, keep your wallet, or purse out of reach or make use of free online tools (such as BlockSite) that let you temporarily block shopping sites for as long as you wish.
• Check if you could be entitled to benefits: If you have a mental health condition, you may be entitled to help through benefits, such as a Personal Independence Payment. If you can’t work for an extended period, you may be able to claim Universal Credit or Employment and Support Allowance (ESA) to help replace lost income. You can check your eligibility with the Governments online benefits calculators.
• A problem shared: One of the best places to start if you have money worries is to talk to someone you trust. It can feel daunting but opening up to someone about how you’re feeling can bring relief and can provide you with some emotional support.
• Seek free debt advice: If you are worried about debt, you can speak to a specialist to help you sort out your financial problems. A Debt Advisor will talk you through your money worries and find ways to manage your debts. They can suggest solutions, even if you don’t think you have any spare money to deal with your debts. A Debt Advisor can also help you understand if you could be eligible for ‘Breathing Space’ (also called The Debt Respite Scheme) which gives someone in problem debt the right to legal protection from their creditors. You can find free confidential advice using the MoneyHelper Debt Advice Locator Tool.