There are over three million adults in the UK with both mental health problems and financial¬†difficulties, and this number is growing as the economy slows.
Download our money and mental health factsheet for the top facts and stats about the links between the two.
People with problem debt are significantly more likely to experience mental health problems
- Half of adults in problem debt also have a mental health problem.
- People with problem debt are twice as likely to develop major depression as those not in financial difficulty.
- 86% of respondents to a Money and Mental Health survey of nearly 5,500 people with experience of mental health problems in spring 2016 said that their financial situation had made their mental health problems worse.
People with¬†mental health problems are also more likely to be in problem debt
- One in four British adults with a mental health problem has problem debt.
- While fewer than one in ten (8%) people without mental health problems are in problem debt, this rises to nearly one in four (24%) for people experiencing depression or anxiety, and one in three (33%) for people experiencing psychosis.
- People with severe mental illness are 2.3 times as likely to experience money or debt problems; 2.4 times as likely to experience welfare benefits problems; and 2.8 times as likely to experience problems relating to homelessness.
- 72% of respondents to Money and Mental Health’s survey said that their mental health problems had made their financial situation worse.