Skip to Navigation

Debt and mental health are closely linked in a cause and effect relationship.

There are many reasons why people fall into debt, and being in financial difficulty can has many tributaries, not all of them obvious. For example, the most common reasons for falling into debt are unemployment and redundancy, not drugs, spending sprees or a profligate lifestyle.  Apart from the obvious the consequences of debt, such as worry and threatening letters, there is an associated risk to mental health and wellbeing, with depression and anxiety frequently adding to the mix of difficulties.

Up to half of people with problem debt also have mental health problems, and the the burden is made considerably worse by the stigma, and having to deal with it alone. Although credit card companies and other organisations have got much better at dealing with their customers who cannot pay, much of debt-related anxiety is still due to a lack of understanding and support from creditors, as well as from the individual’s family, friends and employers.

It may be difficult to help people with mental health difficulties directly, but better understanding of debt and its impact could lessen judgemental social attitudes and, who knows, even ripple out to influence how debtors are dealt with by the organisations they owe money to.

We can all help reduce the stigma of mental illness and its associated effects. I am passing on this link to the Mental Health Foundation website, in the belief that every little helps.

 

What do you think? Share your thoughts...

Latest from the blog

Simple Solutions Are Best

Faced with a dilemma? Here’s how to choose.

Continue reading

How to Show Empathy

What is the difference between empathy and sympathy, and why does on bring us together while the other drives us apart?

It takes Dr Brené Brown just over two minute to explain in this video.

Continue reading

Leadership Relationships

The much-published ideas on leadership have come under scrutiny in a new study which distinguishes truly exceptional leadership from run-of-the mill management-speak. The research, by the Work Foundation, identifies three principles of outstanding leadership coupled with nine themes that exceptional leaders adhere to.
It adds some surprising insights with practical applications.

Continue reading
FREE DOWNLOAD - Get it now.

How to be more Resilient

Get my super-helpful guide '9 Steps to Resilience' absolutely FREE, when you subscribe to my newsletter.

Understand the steps to resilience and you can develop the ability to cope with problems and setbacks with less stress and more confidence.
close-link
%d bloggers like this: