Mind: Money and Mental Health

Learning how mental health and money are connected might help if you're struggling. Sorting things out might feel like an overwhelming task. And lots of things may be out of your control. But try taking things one step at a time. The tips on this page are to help you get started.

• Mental health can affect the way you deal with money

• Money problems can affect your mental health

• Feelings associated with money

• Get to know your money and mood patterns

• Overspending when you’re unwell

Mental health can affect the way you deal with money

These are some common ways your mental health can affect the way you deal with money:

• If you're feeling low or depressed, you may lack motivation to manage your finances. It might not feel worth trying.

• Spending may give you a brief high, so you might overspend to feel better.

• You might make impulsive financial decisions when you’re experiencing mania or hypomania.

• If your mental health affects your ability to work or study, this might reduce your income.

• You might avoid doing things to stay on top of your money, like opening bills or checking your bank account. You might try to avoid thinking about money completely.

• Having a mental health problem might affect your insurance, so you end up paying more.

Money problems can affect your mental health

These are some common ways money can affect your mental health:

• Certain situations might trigger feelings of anxiety and panic, like opening envelopes or attending a benefits assessment.

• Worrying about money can lead to sleep problems.

• You might not be able to afford the things you need to stay well. This might be housing, food, water, heating, or treatments like medication and therapy. See our information on what to do if you can’t afford the things you need.

• Money problems can affect your social life and relationships. You might feel lonely or isolated, or like you can’t afford to do the things you want to.