Inflation, rate rises and mental health

ended 06. February 2022

With inflation eroding people's incomes, interest rates rising and energy and National Insurance hikes set to pile further financial pressure on households, are you seeing more people struggling with their mental health (whether inside the workplace, outside or both)? If so, what are you recommending to them? And do you help people cope with financial worries in the same way that they might cope with other issues? Any other insights or thoughts, jot them down. We'll be sending your thoughts to the media on Monday morning. 

2 responses from the Newspage community

Financial wellbeing plays a large part in how the employees we work with feel and think, and with many still trying to find a place of balance and stability after a turbulent start to the decade, there are serious concerns about how they will cope. The uncertainty of so many prices rising and little by way of clarity that it will stop is causing significant anxiety, especially given many costs can't be directly controlled or mitigated. This is increasing underlying anxiety, which is amplified by the thought of not being able to cover the essentials, from energy to food, travel to childcare. While the markets will do as they please, it's vital the government creates a plan and messaging that gives people the platform to recover and empowers them with what they can do, otherwise the mental health crisis that already has record waiting lists will get even longer, and more hard-working people will slip into despair and desperation.
Mental health is not just about how we feel, it is also about the struggles that we have in our lives. We always help our clients find practical solutions to the issue they face as well as how they feel. This speeds up their recovery hugely.