As it is Mental Health Awareness week, I thought it would be useful to some people to talk about the effect debt can have on your mental health. Mental health problems can cause debt, and debt can cause mental health problems.
Debt triggered by mental health problems can occur from a lack of energy or motivation to keep track of money, and rash decisions can result in spending money on things people can’t actually afford. Taking time off work can also cause a sudden reduction in someone’s income.
If you feel you are struggling to keep up, speaking to a GP or seeking financial advice are great ways to find long-term solutions.
Places to seek advice include:
You could also look back at your spending, as well as creating a budget that helps you gain control. Check out my budgeting tips here.
Remember you are never alone and there is always help available to you.