Media comment: Money and Mental Health - In Control report

Wednesday 13th July 2016

Commenting on today’s launch of Money and Mental Health’s In Control report, David Haigh, director of financial capability at the Money Advice Service, said:

“The In Control Report highlights critical links between the impact of mental ill health on personal finances and the importance of giving people confidence and capability to control their money. The links between mental health and financial difficulties are well established. Our own research shows that over half (52%) of clients who have received debt advice from Money Advice Service funded partners also had mental ill health.

“Improving financial capability can be a central part of recovery from periods of mental ill health. Intervening early, getting the right support to protect against unnecessary and dangerous crisis spending is a vital way for enabling people managing mental health problems to take control of their lives and make the decisions that are right for them.

“Anyone worried about their current levels of debt should seek advice from a professional debt adviser as soon as possible. Debt advisers are experienced in supporting vulnerable people, including those with mental health conditions which may impact on their ability to manage their finances. The Debt Advice Locator Tool on the Money Advice Service website can help people find free, high quality debt advice across the UK to help them get their finances back on track.”