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  • Mental health and debt problems:

    Mental health and debt problems:

    This is a duplicate of the Blog Entry made on: 4th March 2016 13:17
    Much has been written about the easy availability of debt at a time of record low interest rates.
    The latest data showed that consumer credit was growing at the fastest pace in a decade. The consumer boom of recent years, with memories of the financial crash apparently fading, has been well documented. Not so much has been written or analysed on the impact of debt on people's health. That's what one leading personal finance expert wants to put right. Martin Lewis, the personal finance expert, has announced the launch of a new think tank, the Money and Mental Health Policy Institute. He says he has had his own challenges in the past: "Thankfully while I don't have a clinical condition I've suffered from extreme stress at times, with my own dark days, where I've been unable to get out of bed or cope with the world.....Read more here



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  • #2
    Re: Mental health and debt problems:

    This is a chicken and egg situation.

    Which came first, a mental health problem which causes the sufferer to get into debt when they can't manage their financial affairs.

    Or getting into debt causes mental health issues especially when being bullied from pillar to post by creditors and debt collectors.

    This statistic from the BBC story is thought provoking:

    "A study from Psychological Medicine in 2008 suggested that one in two British adults with a debt problem also has a mental health problem."

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