In the UK, search phrases like ‘I can’t afford my bills’ (+400) and ‘I am always worried about money’ (+300 percent) have risen dramatically in the last 90 days. These figures illustrate that money has a significant influence on mental health across the country.
In reaction to these findings, Lowell, a credit management business, performed research into the financial difficulties that Britons are experiencing.
Difficulty faced as a consequence of finances | Percentage of Brits impacted |
The ability to save money | 27% |
Mental health (stress/anxiety/depression) | 22% |
Lost sleep due to stress | 21% |
The ability to pay bills | 18% |
Slept more to avoid problems | 13% |
Relationship with partner | 11% |
Relationship with family | 10% |
Relationship with friends | 9% |
Weight loss | 8% |
The loss of housing | 8% |
According to Lowell’s research, nearly a quarter of Britons (27%) struggle to save money owing to their financial position. Over one-fifth of Britons (22%) indicated that money issues have had a direct influence on their mental health, and that they’ve experienced stress, worry, or despair as a result of their financial difficulties. In today’s atmosphere, especially with the cost of living problem, this is quite concerning.
The study also found that 21% of Britons are missing sleep owing to financial stress, and almost one-fifth (18%) have failed to pay their expenses.
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