‘You’re not alone and help is out there’: impact of cost of living on mental health - and where to go for support

Concerns regarding the cost of living as inflation rises are growing, and for some, worries over rising costs may in turn have a negative impact on mental health.

The charity Mental Health UK said that money and mental health problems are “often interlinked” and can “create a worrying cycle”.

Aisling Traynor, Head of Advice and Training for the charity, said:  “If people aren’t already feeling the pressure on their finances, the warnings around the spiralling cost of living are naturally worrying for many of us.”

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She added: “Money and mental health problems are often interlinked, and together these issues can create a worrying cycle that can lead to problems in other parts of our lives, putting stress on our relationships and negatively impacting our wellbeing.”

Ms Traynor said many of us find it hard to talk about money, but “it’s important to know you’re not alone and that help is out there”.

However, she added that “taking that first step can feel difficult, but it should also reassure you that help is out there to support you through the challenges of the next few months”.

Where can I go for support?

If you’re struggling with your mental health due to money worries, mental health charity Rethink has a dedicated Mental Health & Money Advice website, which combines support for people experiencing both mental health and financial problems.

It offers a wealth of helpful information, advice and tools which can help you manage both your money and mental health.

It allows you to select the area of the UK you live in so you get the correct information.

The Rethink website also offers a range of information on a multitude of money and mental health matters, including questions you may have surrounding welfare benefits, such as:

  • Personal Independence Payment (PIP)
  • Universal Credit
  • Employment & Support Allowance (ESA)
  • Work Capability Assessment (WCA)
  • Moving from DLA to PIP
  • Mandatory reconsideration
  • Appealing a benefit decision
  • Attendance Allowance

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