According to new research from price comparison website MoneySupermarket.com, nearly one in six of us are so worried about our finances that it’s affecting our mental health.
The research showed that 15% of people claim that their finances have a negative impact on their overall health and 16 million people say that their finances are the most stressful aspect of their lives.
According to figures released from money education charity Credit Action, the average household debt (excluding mortgages) was £5,980.
Sometimes clearing this much debt can seem like an impossible challenge, but there are always options available to you.
If you feel like your financial situation is affecting your mental health, you shouldn’t struggle alone. Mental health charityMind have advisors who you can speak to in confidence.
Paul Farmer, chief of Mind said to MoneySupermarket.com: “No one should have to face mental health problems alone and that’s why we offer information and support to anyone who might be struggling with money matters.”
Making and sticking to a budget could be all that’s needed to help you to clear your debts faster. By spending less on your daily essentials and cutting down on unnecessary expenses, you’ll have more disposable income to repay your debts with. MoneySavingExpert.com has a fantastic budget planner you can use here. Alternatively, you can use ourdebt calculator to give you a quick and easy guide to your financial situation.
If after budgeting you’re still struggling to make ends meet, you should speak to a financial solutions provider who can advise on the best solution for you.
The Debt Advisor offers advice on all kinds of debt solutions available to you. We’re regulated by DEMSA and DRF and we adhere to their codes and standards.
Call today on 0800 0851 825 to speak with one of our advisors. If your calling from a mobile you can reach us on 0161 868 2500. Alternatively click here to arrange a call back.