Still in the red: update on debt and mental health
The vicious circle of debt and mental health problems is well established. One in 11 people in the UK reports being in debt or arrears. For people with mental health problems this rises to one in four.
In May 2008 we published In the red based on a survey of almost 2,000 people with experience of both debt and mental health problems
Mind’s follow-up survey, Still in the red, reveals worrying numbers of people with mental health problems living below the Government-defined poverty line as they struggle to cope with debts.
We surveyed almost 900 people living with mental health problems and found that:
- 45% were living on below £200 a week, rising to 54% among those in problem debt.
- Over 80% felt they were often struggling to manage their finances, rising to 95% among those in problem debt.
- Almost 75% thought that their mental health problems had made their debt worse. This rose to over four-fifths among those in problem debt.
We have used the results from the latest survey to produce a new information booklet, Money and mental health, that gives people advice and information on keeping on top of their finances in the context of mental health problems.