financial well being

Money and Mental Health – and the Help for Both



Posted on: 30th May 2024

One of the established links to mental health is always going to be money and the effects that the world we live in has on it. Over the last few years, everyone has seen challenges in their financial well being – so much so that it affects mental well-being for many.

With rising costs in everything during a cost-of-living crisis, many small businesses struggling to survive in the climate, and political tension – it is not easy to get through a day without the stress of something hanging over you and your financial security in the 2020s.

Tough Times

How many people have you talked to this week going through some issue that has some financial basis? Chances are they are putting on a brave face as they plan how they live from month to month instead of for the future.

When we struggle with money, we have to sit down and start scaling back on things we are used to. The first thing to do is end things that give us joy. Nights out, streaming platforms, certain clubs, and gym memberships – If that solves nothing, we look at cutting back on other monthly payments, such as private pensions or investments. That is when we transfer the struggles we go through today into struggles for the future.

When things get worse as prices on everything go up, it could get to the point where you may consider a debt management company. However, there are also other avenues of help around your finances that you can talk to – independent financial advisers Cheshire.

More Than Money

First, let’s dispel the common myth – that a financial adviser is not a person out for your money. They are a supportive, independent party that works so that you can enjoy the most from your money.

40% of the UK population is having to balance their financial and mental well-being, with many spending more than they can realistically afford in the current climate. It is not excessive spending – it is simply trying to retain a life they had before the pandemic and the world spiralling into craziness. It does not feel great to sacrifice aspects of your life because of financial difficulty, but engaging with independent financial advisers Manchester could help you realign your financial goals and expenditure into something that protects your future.

If the weight of financial decisions is what affects you, our advisers can help you to realign your goals and financial expenditure, and provide pension advice Manchester and retirement planning Cheshire so that you can have more peace of mind around your finances. Contact our friendly adviser today for help in navigating a tough financial outlook.