Money and mental health
If you are struggling with your mental health it can be difficult to manage your finances and if you are struggling with your finances, this can then affect your mental health. You can find yourself trapped in a loop with no way out.
Fortunately, the link between mental health and debt is now better understood and help is available. Here are some of the organisations that can assist:
Mind is a charity that gives advice and support to empower anyone experiencing a mental health problem. They campaign to improve services, raise awareness and promote understanding. On their website you can find out more about 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. https://www.mind.org.uk/information-support/tips-for-everyday-living/money-and-mental-health/
Mind has also designed a toolkit to help you explore the relationship between money and mental health. You can use it on your own or ask someone you trust to help you work through it: https://www.mind.org.uk/media/0jthpano/money-and-mental-wellbeing-toolkit-2023.pdf
Money Helper has a page dedicated to money problems and mental wellbeing. This gives practical advice on how to tackle your money worries, including budgeting tools and help for when you are in hospital: https://www.moneyhelper.org.uk/en/everyday-money/credit/money-problems-and-poor-mental-wellbeing
Mental Health & Money Advice provides free and impartial information, support and advice for anyone affected by mental health and money issues. That includes support for friends, families, carers and professionals working in the area.
https://www.mentalhealthandmoneyadvice.org/en/
https://www.mentalhealthandmoneyadvice.org/en/help-contacts/
The Money and Mental Health Policy Institute was founded by money saving expert, Martin Lewis. It is not able to offer direct advice to individuals, but their website contains lots of practical tips and advice. Their Mental Health Guide has advice for people experiencing mental health problems but can also be used by friends, family and carers wanting to help. It also has specific tips for those with bipolar.
http://www.moneyandmentalhealth.org/
https://www.moneysavingexpert.com/credit-cards/mental-health-guide/