Mental health and money are linked.

Life challenges, physical health and mental health all impact each other, and they can affect how we manage our finances and how much money we can make. 

Our physical and mental health can affect how we feel, our confidence levels and our ability to concentrate. If our concentration levels or self-esteem is lower, this can impact our ability or motivation to stay in work or learn new skills, which can impact on finances.Long-term unemployment, difficulties finding a job or losing a job can evoke difficult emotions, such as feeling useless or unwanted, which could lead to depression, anxiety and stress.

Equally, poor mental health, depression, anxiety or stress can also lead to poor money management, overspending or developing habits that result in debt.

On the flip side, good mental health will make working or learning new skills more manageable, which creates more oportunities to earn money in the future. Making money and working will contribute to better mental health. 

Having a job or taking up meaningful activities gives a person a purpose, aids creativity and critical thinking, promotes independence and allows you to develop social contacts, and provides an income; all of which can contribute to improved mental health and well-being.

The cycles below show how mental health and money affected some of our students negatively or positively.

Transitioning from the negative cycle to the positive cycle

If you're in the negative cycle, taking a recovery approach to managing your mental health and locating debt support could help you to transition to the positive cycle. Some of our students have reported better financial stability since taking some of our classes and enrolling on our student development programme. 

Courses which could support your recovery, help you find and stay in work or manage your money include:

• Practising self-care,
• Understanding Depression, stress or anxiety 
• Employment and self-management
• Employment: the pro's and con's of telling employers about health challenges
• Pressures of daily living
• Building opportunities

Debt and money worries support for Hertfordshire residents

If you’re worried about money, visit the worrying about money website to find local support, view the documents below or visit www.newleafcollege.co.uk/further-help to locate the most appropriate Hertfordshire-based resources and organisations to support you.