Money Issues ‘Can Lead To Mental Health Problems’

One in six people who have experienced money problems have had suicidal thoughts as a result of their financial worries, new research has found.

An online survey conducted by YouGov on behalf of charity Mental Health UK found that 25 per cent of those who had experienced money issues felt guilty, while 41 per cent felt embarrassed.

However, most worryingly 16 per cent of those questioned said that they’d experienced suicidal thoughts because of their problems with money. Part of the issue appears to be that people find it hard to talk about these kinds of problems, with 28 per cent admitting they hadn’t told anyone.

What’s more, 50 per cent of adults said that they wouldn’t know where to turn to for support with financial problems.

Among the feelings reported by those who had experienced financial difficulties in the past were stress, anxiety, anger, isolation and depression.

Managing director of Mental Health UK Brian Dow said that the charity wants to raise awareness of the link between money troubles and mental health issues, and to help people “recognise when they might be struggling, and be able to reach out for help when they need it”.

The research also found that 15 per cent of people with money worries drank more alcohol, while 13 per cent smoked more to help them deal with the pressure they’re under.

Mr Dow added that this “only makes the problem worse”, noting that not feeling able to talk about their financial concerns exacerbates the issue. Those who are feeling depressed, anxious or stressed may find visiting a therapist in therapy rooms in London could help them open up and start to face up to these problems.

A recent report from The Mental Health Foundation found that money, along with long-term health and work, were named as the top causes of stress in people’s lives.