A report from the British Association for Counselling and Psychotherapy (BACP) highlighted the severe impact of the cost-of-living crisis on mental health across the UK.  

74% of respondents said that financial pressures have worsened their mental health, rising to 84% for those who had pre-existing mental health conditions
[2024 BACP survey]

Potentially vulnerable groups – including low-income households, women, ethnic minorities, and disabled individuals – are particularly affected.

The BACP has urged the UK Government to prioritize investment in mental health services to address this, and support these communities more effectively.

The effect of financial stress on your mental wellbeing

Financial stress can lead to increased anxiety, depression, and even suicidal thoughts for many people.

The mental health charity Mind have reported that 2.7 million people in England and Wales have had suicidal thoughts due to financial pressure.

1 in 5 people also reported an impact on them which worsened their existing depression.

The effect of financial stress on your social and personal life

Financial stress can also affect your day to day social life and personal activities.

Studies have shown that financial stress can prevent people from taking ort in activities that would improve their mental health.

3 in 5 people reported a negative impact on their mental health due to the rising cost of living – with those already living with a mental health condition being even more adversely affected[2023 King’s College London report]

Invest in your mental health

We know when times are tough, your instinct might be to sit tight and hope the storm passes over. However, investing in your mental health has multiple benefits for your long term wellbeing, physical health, and happiness.

Make an enquiry today and speak to one of our dedicated, expert, caring professionals, who can advise you on a plan to help you get back on an even keel.

Often, the hardest step to take on journey is always the first.

Here for you, however long the journey

And here at EGW we are with you every step of the ways.

Contact us today, and one of our expert and caring team will arrange an initial conversation about your needs.

All enquiries are 100% confidential and treated with care and sensitivity.