Let’s Talk About It
When Finances Impact Your Wellbeing
At Northern Community Bank, we understand that money and mental health can be connected. Whether you’re dealing with financial pressures, debt, anxiety around bills or simply struggling to keep up, it’s important to know that support is out there.
This page brings together insights from leading organisations like Mind, Mental Health Foundation and Citizens Advice, helping you recognise the signs of money related stress and find practical steps and trusted help.
How and Why We Get Into Debt
Debt doesn’t always come from overspending. In fact, life changes like job loss, illness or relationship breakdowns are the biggest triggers. According to the Mental Health Foundation, struggling to adjust to these changes is often what leads to financial problems and the stress that follows.
Recognising the Warning Signs
The mental health charities Mind and the Mental Health Foundation highlight common signs that money is impacting your wellbeing:
- Feeling anxious when opening letters or dealing with the DWP, HMRC or benefits services
- Ignoring calls, especially unknown numbers, in case it’s a creditor
- Struggling to sleep because of financial worries
- Avoiding social situations due to cost or embarrassment
- Feeling isolated, ashamed or helpless
- Getting overwhelmed at the thought of managing repayments
Did you know?
According to the Money & Mental Health Policy Institute:
- 1.5 million people in England experience both problem debt and mental health challenges
- 32% said mental health problems worsened their financial situation
- 76% found at least one communication method with services difficult
- 41% find phone calls particularly stressful
Spending as a Coping Mechanism
Sometimes, people spend money to cope with stress, sadness or anxiety. This can feel helpful in the moment but often leads to increased debt and more distress – a cycle that’s hard to break.
Mind suggests practical ways to manage this:
- Tell someone you trust about your spending triggers
- Don’t save card details in shopping apps or websites
- Remove or limit access to spending apps and social media
- Delay purchases — create a wishlist and revisit it in 24 hours
- Distract yourself with positive activities or self-care
- Tell your bank or credit providers if you have mental health challenges — they may offer extra protection or alerts
Getting the Right Help at the Right Time
If you’re experiencing money related stress, or if it’s affecting your Northern Community Bank account, speak to us as early as possible. We’re here to listen without judgement and help you explore your options.
Also, consider talking to a trusted friend or support organisation. You don’t have to carry this alone.
Useful Resources & Guides
- Citizens Advice – Comprehensive debt and money advice
🔗 citizensadvice.org.uk - Mind – Mental health support and help managing money
🔗 mind.org.uk - Money & Mental Health Policy Institute – Research and support for mental health & financial policy
🔗 moneyandmentalhealth.org
Mental Health & Debt Guide by Martin Lewis – Downloadable guide for support with mental health and financial debt
🔗 Download the guide
