The link between money worries and mental health

The connection between money and mental health is well established. For people who are finding it difficult to cope, any thoughts about their financial struggles can lead to or worsen mental health problems.

Unfortunately, many people find it almost impossible to manage their personal finances. Current cost of living crisis, Some people struggle to save from month to month, while others can barely feed their families. So, when it comes to well-being, it’s no surprise that money can be an important factor.

Whether you’re working full-time or helping someone in need, it’s always worthwhile to know how financial stress can affect one’s mental health.

How does money affect mental health?

  • Certain financial situations may trigger Worry, For example, not being able to go to the bank for a personal appointment or afford a direct debit may cause someone to worry about how they will cover other expenses.
  • Struggling for money can affect your social life. If someone becomes unable to engage in their normal activities, they may feel isolated and alone, which may lead to symptoms of depression or a recurrence of the previous fight.
  • When it comes to bad credit, certain mental health conditions can aggravate the situation. people suffering from unstable personality disorderFor example, this can turn into compulsive spending and worsen the current situation with unhealthy coping mechanisms. Asking for support can feel out of reach, leaving many people trapped in a vicious cycle.
  • If one stays up late worrying about their financial situation it can eventually lead to lack of sleep. In addition to already increased levels of stress, lack of sleep can affect the immune system and make it harder to cope with day-to-day life.

Facing the Facts: How to Deal with Money Worries

Unfortunately, financial difficulties and poor mental health often go together.

Only in England it is thought that Nearly half of all people with problematic debt also suffer from a mental health problem, Sometimes these two separate issues are unrelated, but often, one exacerbates the other and people struggle to find a way to escape.

With professional support, steady income and determined self-help, some of these challenges can be overcome. Dealing with money worries is no easy task, but some starting points may include:

take one decision at a time

It can be almost an instinctive reaction to rush things when you’re close to a crisis. If possible, don’t try to fix too many things at once. Work toward solving one issue at a time and always ask for support if you’re feeling frustrated.

save whenever possible

Even if you’ve never saved before, it’s never too early or late to start doing so. Starting small will help you spot any stress, unnecessary expenses and opportunities to save more.

When you’re ready, Opening a savings account online gives you more flexibility And take control of your savings. You can also make an appointment with your bank to discuss tailored savings plans – as some accounts may not be suitable for everyone.

try to budget

Budgeting is a sensitive subject. Anyone who barely makes enough money to live on will know that budgeting can feel impossible when other real-life issues take priority.

If possible, try to allocate a set amount of money each month for essential expenses, while also setting aside some money each month to pay off your debts. Don’t beat yourself up if you lose your way during a particularly challenging month.


With the right coping mechanisms, there’s no need to spend more to manage your money worries. If you are reaching crisis point, don’t hesitate to seek professional help to help you get back on track.