COVID 19 has exacerbated our concerns around finances. Some of us sadly are staring down the barrel of having debt as a result of no or low employment or our businesses being shattered by the lockdowns. Others of us have a low level worry about how the economy is faring and also not understanding our own reactions to money and how we can get on top of debt. Recently Finty who were formerly Credit Card Compare shared with us an in-depth online resource they created on how good financial skills can help with mental health and well-being. Due to the COVID-19 situation, money is a big worry for many people at the moment, and this guide is particularly helpful for those who experience mental health problems because of this. The guide also includes a chapter outlining the financial support that’s available for people during the pandemic.
The guide offers lots of helpful information such as:
- How financial debt and money worries impact people’s mental health: did you know that 9.5 million adults in the UK suffer from mental health issues as a result of financial anxiety?
- The importance of practical financial skills and how it helps with mental health, including expert advice on combating debt, knowing why people overspend, and how to manage the effects of money pressures.
- Practical, useful tips and advice such as how to budget, analyzing spending habits, where to save on household expenses, how to deal with debt, and how to make money management a habit.
- Other useful information and links to external resources to help develop practical financial skills and healthy habits around money.
You can check out the full guide below:
We hope you find it useful.