Mind charity helped alleviate financial anxiety during Mental Health Awareness Week

05 June 2023 by Chloë Hunt
blog author

​The cost-of-living crisis has negatively impacted nearly half of people living in England and Wales, according to a new report.

A total of 48 percent of people who took part in the study have felt the effects of the crisis which has risen to 73 percent for those already living with an existing mental health problem, according to Mind.

The mental health charity released the data to mark Mental Health Awareness Week (which ran from May 15-21) with a focus on the theme of Anxiety.

A key finding in the report highlighted that many people are not receiving the required support when their mental health is negatively impacted. For example, more than half haven’t accessed support from a GP, two-thirds (66 percent) haven’t accessed online support and 71 percent haven’t accessed support from a local mental health charity.

The latest research revealed more than half of people (56 percent), who have already experienced a negative effect on their mental health, admitted the cost-of-living crisis has ramped up their anxiety levels. It has made 55 percent feel more stressed, 45 percent feel more depressed and 33 percent expressed feelings of loneliness.

Those already living with an existing mental health problem said the cost-of-living crisis has further impacted their health, with 66 percent feeling more anxious, 65 percent feeling more stressed than before and further depression is affecting 64 percent while 47 percent feel lonely.

While anxiety is a normal emotion for everyone, and acts as a natural response to pressure, fear or feeling threatened, it can occasionally get out of control. This then becomes a mental health problem, more apparent if it impacts a person’s ability to live their life as fully as they would like.

Big life events such as starting a new job (or losing one), exam pressures and maintaining healthy relationships can contribute to feeling anxious but money problems are also impacting on people’s wellbeing.
Mental Health Awareness Week aims to not only raise awareness but also promote better understanding of anxiety by providing information on the areas that can help prevent it from becoming problematic.

Simultaneously, Mind is continuing to apply pressure and is urging the government and society to improve mental health and ensure it is a key priority.

Censuswide conducted the survey on behalf of Mind with a sample of 3,015 respondents across England and Wales in March and April of this year.

Sarah Hughes, Mind Chief Executive, said: “The uncertainty of watching as our costs spiral can be difficult to bear and having so much to deal with can affect our mental health. Despite this, looking after our mental well-being is often last on our list. It’s really important that we all get the support we need - this is a mental health emergency that everyone is going to need help to deal with.
“We know we can’t fix the cost-of-living crisis but support for your mental health is out there and we are here for you. This includes through Mind’s Infoline, online community, Side by Side and the useful information available on our website.”

Chloë Hunt, Global Senior Director – Advisory, Research & EDI at Acre, said: “With an increase in remote and online resources, support and material has never been more available to different audiences. Sometimes not knowing where to start or finding the best language to articulate and identify what you need is difficult. These campaigns that spotlight different dimensions to mental health and raise awareness too are invaluable”.

Mind offers help for those experiencing poor mental health, including money management advice to ensure you are claiming any extra money or support you are entitled to and familiarising yourself with money and mood patterns. For more information, visit Mind’s website.

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