Article 16 May 2023

Mental Health Awareness Week: Financial wellbeing and anxiety

In a recent mental health survey carried out around stress, anxiety and hopelessness over personal finances, a quarter of adults said they felt so anxious that it stopped them from doing the things they want to do some or all the time. Six in ten adults feel this way, at least some of the time, so it’s clear to say that financial stresses can be a massive cause of anxiety, particularly in light of the rising cost of living. 

From an alternative perspective, individuals already suffering with their mental health can see this have an impact on their work life, causing a vicious cycle, as pictured below:

With all of this in mind, it’s really important that we do what we can to cope with the stress that finance can bring, and our financial wellbeing provider, Salary Finance, offer a range of tools to support responsible borrowing. This includes loans which are repaid through your salary, with higher acceptance and lower rates than most banks, as well as salary advances, allowing you to withdraw money from your salary as you earn it, without waiting for pay day.    

Simon Kirkpatrick, Chief Financial Officer, recently spoke with Jason Butler from Salary Finance, and the pair discussed the ways in which we can all make small decisions now which can be of support to the future us. 

Tomorrow, we’ll be turning our attention to our network of Mental Health First Aiders and understanding how they can support you and your wellbeing. 

MyWellbeing is where we care for each other – looking after our wellbeing is vital, because together we’re stronger. Visit the Wellbeing Hub to learn more about the support in place for your mental health.