Mental Health Awareness Week runs until May 21 and focuses on anxiety this year, something many people facing financial difficulties will sadly be familiar with. When people struggle with money issues, anxiety levels can escalate quickly with each missed bill or unexpected expense only adding to the strain.
Alice Haine, Personal Finance Analyst at Bestinvest, the DIY investment platform and coaching service, explains that there’s no disputing the effect the cost of living crisis has had on people’s finances, with household budgets coming under increasing strain since late 2021. It started with pandemic-fuelled supply chain disruption, followed by double digit inflation, soaring inflation and rocketing food and fuel prices.
With that in mind, Ms Haine has shared an eight-step strategy to help tackle financial stress head on and improve your mental health in the process. Be aware though, this is not a quick fix list and is a bit of a long read, but it could make a difference.
