The Effect of Debt on Mental Health in the United Kingdom

There is no getting away from the fact that money and mental health are connected. Now, as the UK faces one of its most significant cost of living crises in decades, there is no doubt that people’s mental health will be hit. Is there any Connection Between Mental Health and Debt?

When you are struggling with your mental health, it makes earning money a lot more difficult. Not to mention that once you have earned that money, managing it becomes an issue. When you find yourself getting into debt, this can trigger mental health conditions or worsen existing ones, such as stress, anxiety and depression.

There are several common misconceptions when it comes to debt. Many people think that people find themselves in debt because they live a lifestyle that others deem excessive and spend far too much money in places where they don’t need to. This isn’t the case. The fact is that some of the most common triggers of debt are unemployment and redundancy. This can happen to anyone, regardless of their attitude towards money.