Nikki Bond, Senior Research Officer andConor D’Arcy, Head of Research and Policy

The State We're In

Money and mental health in a time of crisis

PLEASE NOTE: This research contains information on the subject of suicide that some people may find distressing

This report offers a state-of-the-nation snapshot of the financial and mental wellbeing of people across the UK during the pandemic.

It reveals that during the Covid crisis, people with mental health problems faced a much higher risk of financial hardship compared to the wider population.

Our findings show that during the pandemic people with mental health problems were:

  • 陷入问题债务的可能性是普通民众的三倍(15%比4%)。
  • More than twice as likely to have relied on credit or borrowing to cover every day spending — for example, on food or heating (26% compared to 11%).
  • 更有可能没有任何存款来帮助他们应对紧急情况。四分之一有心理健康问题的人表示,他们没有紧急情况下可以使用的存款(相比之下,更广泛人群中这一比例为18%),近一半(46%)的人表示,他们无法定期存钱。
  • At high risk of considering suicide when behind on payments. 44% of UK adults with mental health problems who fell behind on bills last year either considered or attempted to take their own life. If reflected nationally, that amounts to 2.5m in people in total.

Key recommendations:

  • The government should prioritise tackling the links between debt, mental health problems and suicide in its pandemic recovery plans. The Health Secretary Sajid Javid recently announced plans for a cross government white paper on health prevention and inequalities. Addressing the link between financial difficulty and serious mental health problems should be at the heart of this plan, to give people a better chance of recovering from both.
  • 全科医生、急诊科和社区精神卫生服务机构应定期询问因精神健康问题接受治疗的人的财务状况,并提供明确的指示路径,以帮助那些需要帮助的人。
  • Banks, energy companies and other essential services providers should proactively identify customers who may be struggling, and improve the support they offer. This could include developing better processes for referring people to debt advice, offering realistic repayment plans, freezing interest and charges, and reviewing decisions on debt collection for customers with mental health problems.

Read the full report here.

Read the methodology here.

Money and Mental Health is grateful to Capital One UK for supporting the funding of this research.