Mental Health Foundation reports on the impacts of the cost-of-living crisis on mental health:
Financial Strain and Mental Health:
The data reveals a significant correlation between personal financial situations and mental health issues such as anxiety, stress, and hopelessness. This correlation persists across different socioeconomic groups, indicating that financial strain is a common factor contributing to mental distress among UK adults.
Persistent Mental Distress:
The report highlights a concerning trend of persistent levels of mental distress attributed to the ongoing cost-of-living crisis. Despite minor fluctuations, the proportions of individuals experiencing anxiety, stress, and hopelessness have remained largely consistent since the previous year, suggesting a sustained impact of financial strain on mental well-being.
There is a notable disparity in the prevalence of mental health issues related to financial strain between socioeconomic groups. Adults in the lowest socioeconomic groups (DE) are disproportionately affected, reporting higher rates of anxiety, stress, and hopelessness compared to those in the highest socioeconomic groups (AB). This underscores the unequal burden of financial strain on mental health, with vulnerable populations facing greater challenges.
Impact on Daily Life:
The report sheds light on the tangible effects of financial strain on daily life, with a significant proportion of individuals reporting struggles to afford essential living expenses. The inability to afford heating and skipping meals are highlighted as direct consequences of financial strain, emphasizing the material deprivation experienced by many individuals amidst economic challenges.
Against the backdrop of the Autumn Statement, the Mental Health Foundation advocates for governmental action to address the mental health implications of the cost-of-living crisis. The call for mental health impact assessments for all government policies reflects a proactive approach to consider the psychological ramifications of economic decisions. Additionally, the emphasis on increasing financial support to prevent poverty and combat stigma surrounding financial strain underscores the need for holistic interventions to safeguard mental well-being in times of economic hardship.
Tackling food poverty in Wales:
Saving money on your water bills:
Making your home warmer and energy efficient:
Mental Health and money advice:
Find a food bank: