How Finances Affect Mental Health

Money is one of the most common causes of stress, anxiety, and even suicidal thoughts. In the UK, financial pressures such as debt, unemployment, the rising cost of living, or unexpected expenses can feel overwhelming — often leaving people feeling trapped, hopeless, or isolated.

When financial problems build up, they don’t just affect your bank balance — they impact every part of life:

  • Anxiety and stress about how to pay bills or support a family

  • Feelings of shame, failure or embarrassment, making it hard to talk about

  • Relationship breakdowns under financial strain

  • Sleep problems, physical health issues and depression

  • A sense of hopelessness that can lead to thoughts of suicide

 

Organisations That Can Help

StepChange Debt Charity

Free, confidential advice and debt solutions.

National Debtline

Practical advice and resources to help you take control of debt.

Citizens Advice

Free local advice on debt, benefits, housing, employment, and more.

MoneyHelper (formerly Money Advice Service)

Government-backed advice on budgeting, savings, pensions, and more.

Turn2us

Support for people facing financial hardship, including benefits calculators and grant searches.

Samaritans

If money worries are affecting your mental health or you’re in crisis, Samaritans are here 24/7.

 

Money and Mental Health Policy Institute

(Founded by Martin Lewis, MoneySavingExpert)

The Money and Mental Health Policy Institute is a charity working at the vital intersection between financial struggles and mental health. They research and campaign to break the vicious cycle where mental health problems make money management harder — and money worries worsen mental health.

Although they do not offer one-to-one advice, their website provides:

  • Practical tools and resources for managing money if you struggle with mental health

  • Information to help carers and loved ones support someone facing both issues

  • Policy work that influences banks, regulators and the government to better protect vulnerable people

Their mission is simple: to create a world where financial problems no longer cause mental health crises — and where mental illness doesn’t make financial difficulty inevitable.

Money and Pensions Service (MaPS)

The Money and Pensions Service is a government-backed organisation dedicated to improving financial wellbeing for people across the UK — with extra support for those who are struggling the most.

Their free services offer:

  • MoneyHelper — practical advice on budgeting, debt, savings, benefits and everyday money matters

  • Pension Wise — guidance to help people make the most of their pension savings

  • Support for vulnerable people, including those in financial crisis or dealing with long-term financial insecurity

  • Information and resources for employers and frontline workers to better support people in financial difficulty

Money and Pensions Service believe that everyone deserves to feel secure and confident about their financial future — and they work hard to ensure that no one falls through the cracks.