This money worry haunts almost 50% of Brits…
Are you worried about your standard of living? Has it taken a knock – or is it about to?
If so, you’re amongst 48% of Britons who are concerned about the current economic crisis (and how it’s affecting how they spend their money). Taking a closer look at the stats, as revealed by Censuswide (on behalf of the mental health charity, Mind), we look at practical ways we can all bring down our day-to-day costs and get a handle on our finances.
After all, the effects of the cost-of-living crisis could aggravate anxiety symptoms in those already struggling – and bring about new bouts of anxiety for those who’ve never suffered.
For instance, Sunita Thind, 40, from Derby – who has lived experience of anxiety, depression and complex post-traumatic stress disorder (CPTSD) – tells Mind that the cost-of-living crisis has severely affected her mental health.
She says: “The cost-of-living has impacted my anxiety and depressive moods – I can’t work full-time due to my physical health, so I’m always worried about money. It’s awful. The money that I do have coming in goes straight out again on things like bills and food – which are astronomical now – so I don’t have as much left to spend on visiting spaces where I can talk about mental health.”
Over Half of People Affected by the Cost-of-living Haven’t Accessed Support
Sunita isn’t the only one struggling, though; anxiety affects over half of those who have told Mind they are negatively affected by the current cost-of-living.
You too might have noticed a correlation between money – and how much or little you have – and your mood. Not surprisingly, over half (56%) of those who said they’d been negatively affected by the current cost-of-living crisis told Mind they are more anxious as a result.
Over half (54%) haven’t accessed mental health support from a GP, though, and two thirds (66%) haven’t yet accessed online information resources. To help the cause, Mind is encouraging anyone who’s finding it difficult to speak to the charity.
Here’s What You Can Do to (hopefully) Counteract the Cost-of-living…
Check If You’re Entitled to Government Support
You may be eligible to receive support with your living costs – and the Gov.uk website has all the information you need. From benefit and support for families, to support if you’re looking for work, or if you’re disabled, you’ll find everything you require on the site.
Sign Up for Martin Lewis’ Money Saving Expert weekly email
During the current climate, you’ll want to save (or maximise) every penny you have. That’s why many people swear by Martin Lewis’ Money Saving Expert email, which lands in inboxes weekly and contains a wealth of tips and advice on cutting costs on energy bills and more – sign up here.
The Money Saving Expert site also offers a handy guide to saving vital funds, which includes tips like ‘making do and mending’ at Repair Cafes, checking if your child or children qualify for free school meals, and batch cooking food to save money on ingredients and energy.
Keep An Eye on the Knowledge Hub of Our Site
At Unity Mutual, we work hard to bring you the latest money-saving advice, hints, and tips to ensure you can potentially cut your day-to-day costs and save for a healthier, happier future. Our most recent articles include The Budget 2024: How it Might Affect Your Finances, and Reducing Your Debt: Things to Consider.
We’ve also put together articles on money-saving challenges you can try in 2024, keeping an eye on where you could be wasting money, and spotting financial scams.
Do Not Overlook the Support Available to You
If you’re struggling with your mental health, do not overlook the support available from Mind. As Sarah Hughes, the charity’s Chief Executive says: “The uncertainty of watching as our costs spiral can be difficult to bear and having so much to deal with can affect our mental health. Despite this, looking after our mental wellbeing is often last on our list. It’s really important that we all get the support we need - this is a mental health emergency that everyone is going to need help to deal with.”
If you’re keen to save towards a healthier financial future, view our range of products* here on the Unity Mutual site.
Until next time…
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