Money & Mental Health – Practical Financial Skills to Manage Money

A recent report by the Health Foundation has highlighted emerging evidence regarding COVID-19’s impact on mental health and health inequalities.

The economic impact of lockdown has hit people unequally, causing immediate impacts on mental health. The Mental Health Foundation reports over a third of people in full-time work surveyed were concerned about losing their job, and mental health impacts on people who were unemployed were widespread and severe.   In addition, people’s housing and their ability to afford housing are strong influences on mental health. People who rent have experienced greater financial impacts during the pandemic than those who own their homes.

Financial products provider Finty has created a guide that although orientated towards the Australian market, is still relevant to all readers and may be beneficial in particular to those coping with the challenges of mental health, anxiety or depression and juggling the minefield of money management during the Covid19 pandemic.

Money & Mental Health – Practical Financial Skills to Manage Money

https://finty.com/resources/managing-money-pressures/

The guide offers lots of helpful information such as:

• How financial debt and money worries impact people’s mental health
• The importance of practical financial skills and how they help 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, analysing spending habits, where to save on household expenses 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