Money Worries and Mental Health – MHM Wales
- mhmadmin
- 8 hours ago
- 3 min read
Author Mark Williams Information Officer info@mhmwales.org 01656 651 450
Struggling with money can have a significant impact on mental health, and experiencing mental health difficulties can also make managing finances more challenging. The relationship between financial wellbeing and mental health is deeply connected, often creating a cycle that feels difficult to break.
How Money Worries Affect Mental Health
Financial stress can lead to:
🔹 Anxiety and feelings of helplessness
🔹 Sleep problems due to constant worry
🔹 Depression and reduced motivation
🔹 Increased risk of social isolation
Worrying about debt, paying bills, or managing everyday costs can make it harder to focus on daily life, affecting overall wellbeing and self-esteem.
How Mental Health Challenges Impact Finances
Living with mental health difficulties can affect financial management by:
🔹 Reducing energy and motivation to manage bills or budget
🔹 Affecting memory and decision-making around spending
🔹 Increasing impulsive spending as a way to cope
🔹 Making it difficult to navigate financial support services
Breaking the Cycle: Support and Solutions
💙 Talk to Someone – Seeking support from a trusted person or financial advisor can help ease worries.
📊 Create a Budget – Simple budgeting tools can help you regain control over finances.
🆘 Access Support Services – Organisations like MHM Wales provide advocacy and advice to help with money worries.
🧘 Prioritise Mental Wellbeing – Small self-care steps can reduce stress and help with financial decision-making.
💡 You are not alone. If you are struggling with mental health and money worries, support is available. Reach out to MHM Wales for guidance and resources to help you take back control. Info@mhmwales.org
Financial Wellbeing and Mental Health – Support in Wales and the UK
Wales-Specific Support
Mental Health Matters Wales (MHM Wales)
Offers advocacy, peer support, and mental health services across Wales, including help for financial stress.
Website: https://mhmwales.org.uk
Melo Cymru – Money Worries
Provides self-help resources and online support to manage money worries, available in English and Welsh.
Public Health Wales – Financial Wellbeing
Offers guidance for employers and individuals to support financial wellbeing.
HEIW – NHS Wales Staff Wellbeing
Provides financial wellbeing resources and signposting for NHS Wales staff.
Citizens Advice Cymru
Free, confidential advice on money issues, benefits, and mental health support.
UK-Wide Resources
Mind – Money and Mental Health
Support and advice on the relationship between financial stress and mental health.
Website: https://www.mind.org.uk/information-support/tips-for-everyday-living/money-and-mental-health/
Mental Health and Money Advice – Toolkit
Helpful toolkit to manage finances while supporting your mental health.
Money and Pensions Service (MaPS)
Offers free guidance on money management and financial wellbeing.
Website: https://maps.org.uk/en/our-work/uk-strategy-for-financial-wellbeing/what-is-financial-wellbeing
Rethink Mental Illness – Money, Benefits, and Mental Health
Advice for people experiencing mental illness and facing money worries.
Money Saving Expert – Mental Health & Debt Guide
Specialist guide for people struggling with debt due to mental health issues.
Veteran-Specific Support
Change Step Wales
Peer mentoring and mental health support for veterans and their families.
Website: https://changestepwales.co.uk/
Practical Tools and Support
Budget Planners and Tools: Available from Citizens Advice, Mental Health and Money Advice, and other sites.
Benefit Calculators: Check eligibility for financial help easily online.
Support Groups and Helplines: Many services offer peer groups and 24/7 support lines.
Seeking help is a sign of strength. If you’re struggling with financial stress and mental health challenges, you are not alone. Help is available
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