Talking Openly About Money and Mental Health!

One in four of us lose sleep over our financial struggles.

And with three out of five of us in debt, is it any wonder?

It might be due to impulsive overspending, income anxiety or worry of having to take time out of work. Whatever the financial problem, it can impact your relationships, social life and mental wellbeing.

The world is changing. We live in a time where mental health is becoming more openly discussed, and so it should be. With that in mind, let’s take John’s experience as an example of the impact of finances on mental health.

The Effect Of Debt On Mental Health

John had been having sleepless nights for months. He was in debt and was struggling to pay the bills. For him, it seemed like a never-ending struggle. He saw no way out. And on a recommendation from a friend, he decided to speak with the Assured Wealth team to shine a light on his financial future.

The stats linking finances to mental health surprised John. There is clearly more work to be done to raise awareness. But, after a quick discussion about how common his situation was, he realised he was not alone. And we wanted to help him solve the underlying problem – his debt, rather than treat the symptoms.

How To Overcome Debt To Help Mental Health Challenges

Nowadays, Financial Advisers should pay closer attention to mental health problems. At Assured Wealth, we welcome the discussion and do so with complete openness, empathy and confidentiality.

We helped John restructure his credit card and loans through a new mortgage. This helps him lower his monthly outgoings. We also put in place income protection insurance for him so if he became ill, he would still be able to afford to live. John is now confident that he can afford his mortgage, pay the bills and is on a clear plan to become debt-free.

There is no doubt that there is work to be done when it comes to mental health awareness. And this is especially true for the link between finances and mental health. As with all mental health challenges, it starts with speaking up. And at Assured Wealth, we are able to offer financial solutions and recommend available support services if our client is in need.

Inspire Mental Health Conversations

We want to inspire more people facing financial difficulties to have conversations sooner. So if you, a friend or family member would like a FREE 1 hour confidential conversation about finances, then call Assured Wealth on 01925 396 122 today.


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