Managing Money & Debt
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How are mental health and money worries linked?
Understand the links between mental health and money, who it affects and what the impacts might be.
How do I manage my money if I have mental health problems?
Managing your money can be difficult, and your mental health can suffer if you are dealing with money worries like getting into debt, overspending and problems with benefits.
What are my options for dealing with debt?
We know that debt can cause a lot of stress and impact on your mental health, but there are always options for dealing with it.
- Priority and non-priority debts
- Bank accounts and debt
- Drawing up a budget sheet
- Negotiating reduced payments to your debts
- Free Debt Management Plans
- Debt Arrangement Scheme
- Trust Deeds
- Formal bankruptcy or a ‘sequestration’
- Write Offs
- Will I be 'blacklisted'?
- What can creditors do if I don't pay?
- Should I tell creditors about my mental health?
- Getting help from a specialist adviser
- What to know about loan sharks
- Next steps
Cost-of-living crisis and your mental health
We know that many people are feeling the strain as the cost of living continues to increase. In this section, you will find information about how you can maintain your mental wellbeing at this time, alongside information on how to manage your money as your bills rise.
Can someone else manage my money for me?
An elected person can manage your money if you want them to, but it's important to consider the facts before making any arrangements.
Can I cancel something I've done when I'm unwell?
Understand the rules around borrowing money, and what options you have if you're too unwell to pay the money back.
How do I make a will or trust fund?
Understand how you can pass your money and the things you own to a relative or someone close to you when you die.
Understanding gambling and mental health
In this section, we share the links between problem gambling and mental health conditions and offer advice for recovery.