This week (9th- 15th May 2022) marks Mental Health Awareness Week. The week, hosted annually by the Mental Health Foundation, aims to spread awareness around mental health and the support available. This year’s awareness event focuses on loneliness, its impact on our mental health and the practical steps we can take to address it.
Here, we take a look at how money, mental health and loneliness are linked and what we can do to make a positive change, especially given the ever-growing cost of living crisis.
Money, loneliness and our mental health
Studies show that money and mental health are inextricably linked with 55% of people with mental health problems worried about their finances while four in ten people with a mental health problem said their financial situation had worsened their mental health.
How to get help with money, mental health and loneliness?
Talking about money and mental health
The rising cost of living has meant that 9 in 10 adults reported an increase in their cost of living over the previous month in March 2022 many of whom could be facing financial difficulties for the first time. Meanwhile, the cost of living crisis is a constant on the news and social media, creating little escape from financial woes for UK households.
This combination of the cost of living crisis, and widespread reporting of said crisis, is extremely worrying for UK households and is causing a rise in the amount of people needing financial support. As a direct consequence of this, many more people are likely to experience loneliness over their financial situation or mental health issues due to money worries.
With all this in mind, it’s more important than ever that we talk about both money and our mental health. If you’re unsure how to broach the subject of money or mental health, read our previous blog here.
Mental health support
If you have feelings of overwhelming loneliness or are feeling feelings of anxiety and stress then there are many mental health organisations that can help. The worst thing you can do is suffer in silence.
Instead, speak to your GP or take a look on Mind’s list of organisations that can help with mental health support.
Debt help and support
If you are facing problem debt then reaching out for no obligation debt advice is a great place to start.
By speaking to an experienced debt advisor via live chat, email or phone you can start to feel less alone with your financial problems. Likewise, seeking debt advice and starting with a debt solution can help you to feel more in control, alleviating feelings of stress and anxiety.
Our online debt advice tool means you can get free, impartial and no obligation debt advice in just 15 minutes without speaking over the phone. Then, if you would like, you can get started with your recommended debt solution in a few simple steps.
Get started with our online tool today or speak to one of our experience debt advisors and lets break the cycle between debt, loneliness and mental health issues in Mental Health Awareness Week 2022 and beyond.