Money and Mental Health: A Vicious Cycle
Financial difficulties and mental health challenges often go hand in hand, each exacerbating the other. In England, over 1.5 million people experience both problem debt and mental health issues.
Key Facts:
- Debt and Mental Health: Nearly half (46%) of individuals in problem debt also suffer from mental health problems.
- Mental Health Leading to Debt: Individuals with mental health issues are three and a half times more likely to be in problem debt compared to those without such issues.
- Impact on Recovery: Financial difficulties can hinder recovery from mental health conditions. For instance, people with depression and problem debt are 4.2 times more likely to still have depression 18 months later than those without financial difficulties.
- Suicide Risk: People in problem debt are three times as likely to have contemplated suicide in the past year. More than 100,000 people in England attempt suicide while in problem debt each year.
How WorkPlay Can Help:
At WorkPlay, we understand the intricate link between financial well-being and mental health. Our platform offers resources and support to help you manage your finances and mental health effectively. By providing tools for budgeting, stress management, and access to professional advice, we aim to break the cycle and promote overall well-being.
Take the First Step:
Don't let financial stress control your life. Join WorkPlay today and take advantage of our comprehensive resources designed to support both your financial and mental health journey.
