Tag Archives: depression

A friend in need…what to do if someone you know is in debt

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Don't let your friend suffer in silence any longer.

Don’t let your friend suffer in silence any longer.

You’ve known for a while now that someone you care about is going through a rough patch with money.

Their face is constantly tight with worry and there’s a stack of bills on their side table. You can’t have a five-minute conversation without their phone ringing, and every time it does they let out a world-weary sigh.

There could be a whole host of reasons why they’re struggling, some you may not even be aware of. Maybe they recently had their hours cut at work, or their partner walked out. Perhaps their household expenses have been creeping up in price over time (you no doubt know yourself how expensive things are these days). You want to help but don’t know how.

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5 great reasons to get out of debt

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IVA tips

There’s no time like the present to deal with your debts

Over the years we’ve found that people want to get out of debt for a whole host of reasons.

From buying a house to being able to save up for a rainy day, there’s no one-size-fits-all motivation when it comes to debt advice.

Nobody likes problem debt, but sometimes we need a bit more encouragement to get going and make debt freedom a reality. If you’re done with being in debt but need some inspiration, would these help your resolve?

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How Samaritans can help you

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Samaritans are in your corner

Samaritans are in your corner

At Samaritans, we’re aware that people are feeling under increasing pressure over money. At the start of the current financial crisis in 2008, one in 10 of our calls was about money, debt and related issues. Since then, this figure has risen to one in six.

Although we know that worries about debt or the threat of losing a home can cause stress and depression, it’s important to understand that suicide is complex, and it is seldom the result of a single factor. It is likely to have several inter-related causes.

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The stress of dealing with debt alone

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No one should ever have to deal with debt alone

Mother Theresa was once quoted as saying “The most terrible (form of) poverty is loneliness”. Considering that in today’s society loneliness is said to be on the rise, she may well have been onto something.

Problem debt and rising living costs are a burden for many people, but it seems that people living alone have it especially tough. A 2011 study by Co-operatives UK found that 51% of a single person’s income goes on essential items such as housing, food and utilities compared just 30% of income earned by people living together. Dealing with this kind of pressure can surely intensify the negative feelings a lonely person goes through.

There’s more: according to the 2010 Lonely Society report by the Mental Health Foundation, the percentage of households occupied by one person more than doubled from 6% in 1972 to 12% in 2008. They also stated that more than a third of us (42%) have felt depressed because we felt alone.

If you take a look at our Debt in Mind page you’ll see quotes from actual clients expressing deep feelings of loneliness and despair. Debt and these feelings are often linked. If you’re feeling lonely it helps to understand more about these feelings. 

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Your relationship, your debt and your mental health

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Debt problems can destroy even the healthiest of relationships

Debt can harm even the healthiest of relationships

It’s long been a concern of ours that so many people who struggle with debt feel a knock-on effect with their relationships.

There’s reason to be worried; our infographic for Mental Health Awareness Week highlights that 6.2 million people are hiding their debt from their partners. What’s more, 35% of people with debt problems said their relationship suffered or ended completely due to debt worry.

As Peer mentioned in a previous article, debt due to separation or divorce is a real problem all across the UK.  Luckily, our Wellbeing guide has a few suggestions to help keep your relationship on track during times of stress.

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With debt in mind: the link between mental health and debt

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Debt and stress go hand in hand

Debt and stress can go hand-in-hand

How in tune are you with your mental health? Think about how you feel right now; are you relaxed? Are you happy? Do you feel a sense of calm and clarity?

There might be little things that are annoying you, but for the most part you hopefully feel you have a degree of control and direction in your life.

Compare this to the last time you felt immensely stressed over the things taking place around you. For many people, this was the feeling they had when they realised they needed help with debt.

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How I went from £36k in debt to being back in black

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Today we’re honoured to welcome Lisa, also known as @CoffeeCurls, to MoneyAware. From the lows of being in severe debt to finally paying the debt off with help from StepChange Debt Charity, this wonderful article about her own debt experience was originally posted on her own blog. It’s well worth reading.

Debt file

If you’re in debt and feel that you need some help, I hope that reading this will reassure you and offer some useful suggestions. It depicts how I went from being £36,000 in debt and on the verge of depression and bankruptcy, to being ‘back in black’.

In the summer of 2004 my husband left me. He left suddenly (the night before our youngest son’s 3rd birthday). I had no warning of this and, although people find it hard to believe, I had absolutely no idea that it was going to happen.

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