Wednesday Recommendation: Money Saving Expert

This week’s recommendation is a little different: it’s moneysavingexpert.com. As the name suggests, this is a financial website and it was founded by Martin Lewis. So why am I recommending it on a blog which is predominantly about mental health? Because mental health and money affect each other.

Mental health problems can lead to financial difficulties, most commonly because being mentally ill affects your ability to work. Many people (myself included) have had to give up jobs due to mental illness. Unless you are wealthy, this means you are forced to rely on benefits and/or supportive family members. Some symptoms of mental illness also affect finances — people with bipolar and borderline personality disorder, in particular, are prone to compulsive spending.

Money problems can also have an adverse effect on your mental health: being in debt can promote anxiety and depression, for example. If you are already mentally ill, financial worries can make the situation worse, impeding your recovery. It’s vital to find solutions to your money problems if you want to manage your mental health.

Moneysavingexpert.com is full of advice and information, including guidance tailored for people with mental health issues. As I mentioned in Dealing with Debt and Mental Health, MSE has produced a Mental Health & Debt guide, which can be found here: http://www.moneysavingexpert.com/credit-cards/mental-health-guide. The forums are also an excellent source of help, support and encouragement.

Whatever your financial situation, MSE can provide information and ideas relevant to you.

 

You may also be interested in 7 Ways to Start Dealing with Debt