Your Guide To Being Debt Free And With Good Mental Health in 2022

(image: Unsplash)

There is a strong correlation between debt and mental health which is often overlooked. According to the Royal College of Psychiatrists, 1 out of 2 adults with debts, also struggle from mental health and therefore it is something that certainly should be discussed more openly.

Not only can people with mental health such as anxiety or depression face difficulty with managing finances, but parallely, those with debt can often suffer anxiety or depression as a consequence. 

Debt can start with basic credit cards or types of personal loans and get out of control due to shopping online, gambling or by being unable to keep up by losing your job or form of income.

With 1 out of 10 Britons suffering with debt problems, circa 6 million people, it is something that we need to be more conscious about and today we offer some useful guidance and support to be debt free and have good mental health for 2022.

Speak To Your Creditors

The stress of having debt starts with the letters demanding payments and it is remarkable how such a small piece of paper can cause so much stress and anxiety. Also just the feeling of having debt in itself is a painful and uncomfortable feeling.

But one of the worst things you can do is avoid any communication with the creditor. In fact, just speaking to the creditor or company that you owe money to, can ease things. There are always options available to you if you are struggling to pay back a credit card or you are behind on a loan.

For instance, credit card companies can offer you a minimum payment, which is 10% of the balance and you can recur this each month until you want to pay in full. The fees for doing so are very, very small and there is just a tiny negative impact to your credit score – but it offers huge breathing space.

For lenders, they are likely going to be able to freeze interest, delay payment for several weeks and months or spread your repayments over a longer period of time, via something called an arrangement to pay. So whilst you will still owe the repayment, it will certainly help by being able to delay repayment until you can get back on your feet.

And just having some repayment schedule in place can stop any calls, texts or letters coming through the door and take some stress off your shoulders. 

(image: Unsplash: Towfiqu Barbhuiya).

Speak To a Professional 

If you are struggling with debt and are unsure where to turn, consider speaking to a debt professional. Not only are there lots of forums online, but there are charities who will answer you and help you for free, such as StepChange and Citizens Advice Bureau. These establishments will be very used to the types of debts and problems that you are having and they will know very quickly the best ways to calm things down and help limit any further fees and charges being applied.

Speak to Your Family and Friends

Whilst many people are too embarrassed to speak to their close circle of friends and family about their debt or their mental health, you will find enormous strength and support from the loved ones around you.

If you have some debts to pay off, you may find that borrowing money from family and friends can be a simple way to elevate this. It is common for parents to help with any debt problems and not request any interest back. You should always be planning on paying your family back though, because this is always healthy for a relationship. But certainly if you have lost your job and just need some breathing space, this can always be a viable option for you.

Don’t Be Shy to Ask For Help

Being strong in times of mental health or financial problems can sometimes add even greater stress, by just having to hold everything in or still be required to attend birthdays, pay for gifts or go to restaurants with people you love.

But being open and honest with the loved ones around you, can be one step closer to helping with your current problems and getting back on your feet.

Just Realise That Everything is Temporary

You might feel like your debt is taking over, but in reality, it may only be temporary. After all, debt is something that can be wiped out once you have repaid or part repaid.

You may want to avoid selling important things in your life, such as your house and your car, but do not be surprised how much junk is lying around the house that people are willing to pay money for. Whether it is books, CDs, DVDs or clothes, there are people on various apps, Facebook Marketplace or even car boot sales who are interested in buying these things and you could quickly gather a few hundred pounds in very little time.

You will be surprised how quickly you can get your debt sorted – and one step closer to financial freedom and better mental health.



This article was written by a freelance writer and contains links.

‘Out of Office Ditch the 9-5’: An Outstanding new book by author Fiona Thomas.

(image: Fiona Thomas/ Trigger Publishing)

Out of Office: Ditch the 9-5 and Be Your Own Boss, by my friend and author Fiona Thomas is an incredible read! I have known Fiona for some time as our writing careers overlapped. We both became freelance journalists for publications including Metro.co.uk and Happiful magazine at the same time. We then got book deals around the same time with Trigger Publishing and released our first books within a year of one another. Fiona is one of the loveliest humans in the mental health writer world and so I eagerly anticipated reading her new book.

Ostensibly, the book is a guide to ditching the 9-5 traditional workplace and going freelance! This is something Fiona has great knowledge of, having left the 9-5 after a breakdown in her 20s and being diagnosed with depression and anxiety. It took her a year to recover from this and as she had previously worked as a Manager, she knew she couldn’t go back to the pressure cooker. You can read more about this in her first book Depression in a Digital Age.

Instead, like me, she found solace in blogging online about mental health, then writing and becoming a freelance writer for many publications. Now, she is not only an author but a writing coach, journalist and in demand speaker!

Freelancing is booming for people who want a more flexible lifestyle or have found themselves out of work too. All you need is a laptop, phone and internet connection!

(image: Fiona Thomas)

Now, to the book Out of Office. The book is full of Fiona’s trademark wit- I felt like she was talking directly to me as I read it. She has so much knowledge to impart on how to navigate the freelance world, avoid its pitfalls and make a successful career (and what to do when things can go pear shaped too!).

Whether you are just thinking about going freelance, just starting out or a few years down the line, this guide addresses all the questions you might have about working for yourself and making the most of life. Designed to help you attain and enjoy a self employed career, the book challenges the misconceptions around freelancing and offers the pros and cons of taking the plunge.

Fiona covers topics such as how to raise an invoice and submit a tax return, how to sell yourself, coping with imposter syndrome (aka I’m just not good enough to be here), as well as why working from home is proven to have a positive impact on productivity and mental health.

Fiona is a mental health advocate and always strives to help others on their journeys. I loved how engaging the book was, how I couldn’t wait to read the next chapter and learn more. As a freelance writer/blogger/author myself, I knew this book would help me too (especially with the finances) and it is sitting in pride of place on my book shelf as I devoured it. I will definitely re read and use Out of Office as a reference point in the future too.

This is a must read and you can get a copy here and in all good bookshops.

About Fiona:

Fiona Thomas is a freelance writer who was born in Glasgow but now lives in Birmingham. She has been published in Metro, Reader’s Digest, Happiful Magazine and Grazia. Her passion is working with female-led businesses and shining a light on the positive impact that freelancing can have on our wellbeing. This is her second book. She blogs at fionalikestoblog.com

Covid 19: Positive and Negative for Mental health and Work? Guest blog by Danielle Strouther

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(image: morefamousquotes.com)

 

For anyone that’s suffering from anxiety, OCD or other mental health conditions, living through a pandemic is not a walk in the park. 

A time of crisis is enough to cause panic in anyone. If you’re already struggling with a ‘normal’ day, the added stress means it’s even more difficult to keep your head above water. 

But, it might not all be bad news. Using mental health data commissioned by Adzooma, there may be some light at the end of this tunnel. 

 

Why we should care about mental health

COVID-19 is a pandemic, with just under 500,000 people affected around the world as of March 26th 2020. 

To put things into perspective, mental health currently affects 676 million people worldwide. It’s not a pandemic, it’s an epidemic.

Mental health isn’t contagious. You don’t contract depression from shaking hands with someone that has it. But it is a crisis that’s often overlooked. In fact, 70-75% of people with mental illness receive no treatment at all, choosing to remain silent. This is particularly true in men, who make up 75% of all suicides. In the UK, men aged 40-49 have the highest suicide rates in the country.

 

Mental health caused 44% of all sick days 

1 in 5 employees have called in sick to avoid work. And no, this wasn’t because they simply didn’t want to go. It’s because their mental health had become too much for them to do their job. 

Rather than be honest, 90% of people lied about it, using another reason for their absence. 

In 2019, there were 602,000 total cases of work-related stress, depression or anxiety in the UK. That’s 44% of all health-related sick days.

The cost of this is projected to be between £39.4 billion to £99 billion each year for businesses. If you break this down, it can cost employers £1,300 per employee if they don’t have the mental health support in place for their staff. 

“My mental health has impacted my work. It’s caused me to leave jobs, to call out some days when it’s just too much for me to do normal day to day activities. I also have tried to go into work on days where I’m not 100% and my quality of work and productivity have suffered.”

Rhea – Via Adzooma. 

 

69% of people say working at home helps with mental health

Here’s the light at the end of the tunnel. According to research, 69% of people believe that working at home improves their mental health.

Around the world, offices are shutting en-masse, sending entire workforces to complete their jobs from the comfort of their own homes. If there’s ever a time that people needed space to focus on their mental health this would be it. 

Its given employees the space they need to recover mentally. Beyond that, it’s showing employers that their business is capable of functioning remotely.

The positive outcome of this is that hopefully after the COVID-19 crisis, we can set up a world where employees aren’t needed in an office every day. A world where employees are free to work at home and care more for their mental health – reducing office-based overheads and the cost of sick days. 

 

Astonishing mental health data

The data on mental health was complied by interviewing employees of a range of digital marketing and technology companies, including Google, Facebook and The Independent. It revealed stark information about the current state of mental health, such as: 

  • 67.9% of people state that their mental health has impacted their work. 
  • 57.5% of people state that work has a negative impact on their mental health. 
  • Only 32.1% of people have told their employer about their mental health. 
  • Of the 67.9% of people staying silent on mental health, 83.3% of them don’t plan on ever telling their employer. 
  • 66% pf people feel that their work is understanding about their mental health. 
  • But 46% of people feel like they don’t have enough mental health support at work. 
  • 90.4% of people believe working flexible hours can help with mental health. 
  • Only 24.4% of people have mental health first-aiders at their work. 
  • 91.7% of people believe there should be more services for mental health.
  • 89.9% of people think the government doesn’t do enough to support mental health. 
  • Only 28.6% of people currently access mental health services. 
  • But if more services were available to them, 66.7% would access them. 

Access the full data here. 

 

A push for positive change 

One of the best things to come of out the COVID-19 pandemic is people working together. 

Communities are being brought closer and we’re showing compassion and offering help in brand new ways. If you’re ever unsure of that, just watch a video of people coming together to applaud everyone who’s working to stop the virus every single night. It’s a wonderful show of camaraderie. 

It’s a global crisis and we’re in it together. Now, hopefully, we can carry on this momentum to help with mental health and continue the fight for better mental health support. 

With support, we can get better. We can push for positive change to help the crisis. Without support, it will only get worse.

Together, let’s take action and break the silence.

 

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This guest blog was written by Danielle Strouther. She is currently writing lots of words about all kinds of unique subjects at Adzooma and searching for a word she likes more than discombobulated. She has a masters in Film and Television, so can tell people she knows what’s good on Netflix.

 

 

How Debt can have a huge impact on your Mental health by Ian Sims

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(image: Money Under 30)

With the coronavirus outbreak, it is a worrying time for many of us financially. With that in mind, today we would like to share this about debt and mental health: 

Worries about money can hugely influence your overall wellbeing. A study conducted in 2019 showed that 9.5 million people in the UK have issues with their mental health, in direct relation to money woes, whilst a staggering 18 million worry about lack of money daily (source:N26).

How mental health impacts your finances

Research conducted by National Debtline indicates that approximately one in four adultswill experience an issue with their mental health within any given year. It is worth noting mental health incompasses a range of conditions and experiences, including:

● Anxiety

● Depression

● Bipolar disorder

● Phobias

● Schizophrenia

● Dementia

It is also worth highlighting that having a mental health issue or condition does not automatically mean you will struggle with finances or debt. However, it may make it harder to deal with. Research indicates that around half of all adults in the UK who are having debt problems also have a mental health issue (source: National Debtline).

It can causes a vicious cycle of problem health and finances

Unfortunately, feelings of stress, anxiety and even depression relating to growing fears about lack of money can lead to a vicious circle. It can impact your finance management abilities in a variety of ways. For example, serious anxiety or depression may cause you to lose energy or avoid your debt entirely. This may lead someone to avoid keeping up to date of their finances.

Problems with mental health could also affect finances if it means that it reaches a serious point where the person is required to take time off work. Depending on their individual circumstances (such as whether they are entitled to sick leave or not) this could mean a sharp reduction in their income. Unfortunately, this might have the unintended impact of making their mental health worse.

Other signs that debt is causing an impact on one’s health mentally include:

● Become overwhelmed or sick at the thought of the debt you are in

● Starting to withdraw completely from family and friends due to debt anxiety

● Symptoms of preexisting mental health conditions such as depression, are worsening

● Struggling to eat properly

● Struggling to sleep

● Regularly underperforming at work

What you can do if you are in debt and struggling with mental health

Do not suffer in silence, there are a number of places you can turn to that are confidential and free. This includes services such as the Samaritans or Mind. There are also debt charities dedicated to providing advice on how to get out of your debt, such as StepChange and National Debtline.

If you are looking to lower or consolidate your debts, you can look at debt management companies, but please note that they make take a fee for using their services

If you need help in the current crisis with getting Universal Credit or other welfare benefits for job loss or want to know more about managing your finances, check out the government and money websites such as MoneySavingExpert by Martin Lewis.

This blog was written by expert and freelance writer Ian Sims.