Money worries, debt and your mental wellbeing

Worrying about money and finding yourself falling into debt can have a significant impact on your mental health. Life events such as losing your job, illness or the break down of a relationship can all conrtibute to financial difficulties, which can often lead to feelings of anxiety and depression.

Ignoring financial problems can make them more difficult to deal with and will often result in a further deterioration in your mental health.

Our Psycholgical Wellbeing Practitioners have had special training in helping people with anxiety and depression and can support you in a number of ways.

From explaining your symptoms and giving you information, leaflets and booklets to read, to planning individual programmes of psychological support and self-help activities to help you overcome your symptoms.

Work with your PWP might also include signposting to other agencies and organisations that can help with your difficulties, and in the case of money worries and debt advice, a number of organisations and resources are listed below.

National Debtline
0808 808 4000
Monday - Friday 9am to 9pm
Saturday 9.30am to 1pm

My Money Steps
A free to use, easy to understand online service run by National Debtline, a charity that provides free, confidential and independent debt advice. Answer some simple questions about your circumstances, and My Money Steps will give you advice about how best to deal with your debts.
Entering your information takes about 15 minutes and then you will be presented with personalised advice to help improve your situation.

Consumer Credit Counselling Service 
0800 138 1111
Freephone helpline is open from 8am to 8pm Monday to Friday.
Also see their online debt remedy tool

Get advice From a Citizens Advice Bureau

Citizens Advice Bureaux offer free, confidential, impartial and independent advice from over 3,500 locations. These include high streets, community centres, doctors’ surgeries, courts and prisons.

Their advice helps people resolve their problems with debt, benefits, employment, housing, discrimination, and many more issues. It is available to everyone. Advice may be given face-to-face or by phone. Most bureaux can arrange home visits and some also provide email advice. A growing number are piloting the use of text, online chat and webcams.

See a series of debit and credit factsheets from CAB covering topics such as budgeting, gas & electric arrears, child support and maintenance arreas and more...

Find out how you can get in touch with the CAB including 'find my bureau' where you can enter your postcode to find the nearest CAB to you.

See the comprehensive money management pages from CAB with advice on managing mortgage problems, rent arrears and borrowing money to name just a few.

CAB Information on benefits and tax credits for different groups of people including: unemployed, sick or disabled people; help with council tax and housing costs; national insurance; payment of benefits; problems with benefits.

The Money Advice Service
Providing unbiased money advice to help you manage your money better, which includes a detailed section on divorce and separation.

You may also have seen this recent TV advert, promoting their free and independent advice, funded by the government.

RBS Money Sense
Including top tips, financial advice for single parents and a 6-step process to good financial planning

Money Advice Liaison Group 
See the debt and mental health pages on the Money Advice Liaison Group Website including downloads and resources on recognising the increasing incidence of debt problems and mental health conditions and the way in which these can have a reciprocal impact.

Christians Against Poverty 
Christians Against Poverty is a national debt counselling charity with a network of 150 centres based in local churches. CAP offers hope and a solution to anyone in debt through its unique, in-depth service

Money Saving Expert
free 40-page PDF booklet supported by Mind, Rethink, CAPUK and others, for people with mental health problems and those caring for them. It covers how to handle debts when unwell, work with banks, free debt counselling, specific tips for bipolar or depression sufferers, whether to declare a condition and more.

National Debtline
Read the 'Golden Rules' in this detailed, step-by-step self-help pack 'Dealing with your Debts'

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