You are currently in the en section of the site.

No thank you, please close this banner.

First published:

Top Tips

Mental health and financial services podcast


Week three of the Money Advice Trust’s Vulnerability Matters podcast focussed on mental health and financial services. Find out what Sarah Murphy, a founding member of the Mental Health and Money Advice service, had to say.

Mental health and financial services are intertwined

The link between Mental health and money can often be closely intertwined. One in four people are affected by a mental health condition, and, of these close to four million will struggle financially.

In addition, a further four million people are at risk of developing a mental illness as a direct result of their financial situation.

Back in 2004 professor Elaine Kempson conducted an independent review of the banking code.

She recommended that banks and building societies should act on the most appropriate ways to assist people who had been diagnosed with mental health problems which could impair their ability to handle money.

The financial services sector has taken steps in recent years to improve the ways in which firms understand and address the needs of customers living with a mental health problem, including providing relevant support and help.

What does the podcast discuss?

This Money Advice Trust’s Vulnerability Matters podcast asks two questions:

  • What progress has practically been made on the issue of mental health within financial services?
  • What role should firms play in both identifying and responding to the needs of customers with mental health problems?

The Money Advice Trust's Vulnerability Lead Chris Fitch is joined by:

  • Martin King, Head of Customer Vulnerability at Lloyds Banking Group
  • Sarah Murphy, Associate Director of Advice at Rethink Mental Illness
  • Dan Holloway, writer, a mental health commentator, a previous World Intelligence Champion
  • Dr Thomas Richardson, Principal Clinical Psychologist at Solent NHS Foundation Trust, as well as a long-time researcher on financial difficulty and mental health

You can listen to other Money Advice Trust's Vulnerability podcasts here.

Top tips and advice

  1. Why the Mental Health and Money Advice service is helping people with mental illness and money issues
  2. What is financial anxiety?
  3. Budget 2023: How does it affect you?
  4. Why debt can happen to anyone, and how shame can shape our relationship with money
  5. Let’s Get Talking about Student Mental Health: University Mental Health Day
  6. How to save money this Christmas and New Year’s
  7. Tips for managing your money and mental health in 2023
  8. Managing your money and mental health on Black Friday and Cyber Monday
  9. What to do if money worries are affecting your mental health
  10. Blue Badges available for people suffering from mental illness
  11. Budget 2018: How does it affect you?
  12. What the 2018 PIP ruling means for those living with mental health issues
  13. Mental health and Money Advice responds to Goverment’s proposed Breathing Space scheme
  14. Mental health and financial services podcast
  15. Being a carer can affect your mental health and money
  16. What to do when debt worries impact on performance at work
  17. Changes to Support for Mortgage Interest
  18. FCA announces new rules on 'buy now pay later' products and overdrafts
  19. Mental health and money advice for COVID-19 outbreak
  20. How to budget your money during the COVID-19 outbreak
  21. How the Touco app can help you get support around money and mental health
  22. How banks are helping during the Coronavirus period
  23. DWP publishes mental health conditions for PIP back payments
  24. Managing your mental health and money after government cuts
  25. Universal Credit boost for mental health
  26. Household Support Fund
  27. Tips for managing your money and mental health in 2022
  28. How to manage your mental health and money following the energy price rise
  29. How the Universal Credit jobseeker and work capability assessments may affect you
  30. World Bipolar Day

Other Top Tips & Advice

You may find this other advice useful.

Please tell us more

For urgent help, please see Help & contacts