Mental health and personal finances often have a strong impact on each other. If you are struggling to keep control of your money, you may find that your mental health is affected. Likewise, if you find that you cannot cope with your feelings or behaviour, you may find that you get into financial difficulties. If you are in debt, see the Advice and Couselling Service 'Dealing with Debt' webpage for advice about your options.
The mental health charity MIND has some useful web pages which can help you to understand more about how mental health issues can affect your finances, as well providing helpful tips for taking control of your money. The Advice and Counselling Service has detailed guidance about managing your finances on its 'Planning a budget and managing money' webpages. These include examples of average costs, spreadsheets you can personalise as well as money saving ideas. Contact a Welfare Adviser if you would like some help planning a budget.
The Money Saving Expert website also has a free downloadable guide to dealing with debt for people with a mental health condition. This guide has been written to help people with mental health conditions understand how this can impact on their financial situation, and also how being in debt can lead to mental health issues. The guide explains some practical steps that you can take to improve your financial situation.
If you are an undergraduate student and you decide to interrupt your studies part way through the academic year, your student finance is usually re-assessed which may leave you with an unexpected financial shortfall. If this applies to you, contact a Welfare Adviser for advice about your options.