New research has revealed that nearly one in five UK adults (19%) said their financial situation has worsened since the onset of the pandemic and their mental health has been negatively impacted as a result.
There is no doubt that the COVID-19 outbreak has had a devastating impact, not only on our physical health. Many thousands of people have lost their jobs or now have a reduced income. At MENTAL HEALTH AND MONEY ADVICE, they understand the link between financial difficulty and poor mental health. What they try to do is explain how to budget during the pandemic, so you feel more in control of your finances and mental health.
While we may not be able to control many aspects of the crisis, we can learn how to manage our reaction to it, and that includes planning. The more you do now to plan will help you feel in more control when you might not be feeling at your best.
While the Government has put in several measures to support people during this crisis, you may face a significant drop in your income, especially if you are self-employed or a freelancer.
Making a plan to manage your money will also help you manage your mental health.
We’ve been speaking to Laura Peters, Head of Advice at Mental Health UK who has some timely tips on how to best manage our finances and mental health.
Whilst focus is on people’s physical health at the moment, the fallout and dramatic changes will take a toll on people’s financial wellbeing as well as their mental health. Mental Health and Money Advice provide vital information and links to help give support during, and well beyond the pandemic.
From Budget Planners to Savings Calculators, Mental Health Care and Benefits Advice, their pages are packed with really useful tips for us all during these difficult times.
There are many other organisations who can support you too. We’ve linked a few below, just click on the picture for more.