Don’t Let Money Worries Mar Your Mental Health

As many people know all too well, money problems significantly impact mental health, often leading to stress, anxiety, and even depression. This financial strain can feel especially overwhelming for men, who may feel pressured to be the primary provider, the so-called breadwinner. When financial difficulties arise, men might experience feelings of inadequacy, shame, or failure, which can make it difficult to ask for help. Even worse, these feeling become self-perpetuating and too many men have no idea where to turn.

Men: Don’t Suffer in Silence

A survey by the Money and Mental Health Policy Institute found that men tend to suffer in silence when facing financial stress. Their reluctance to talk about their money worries or seek support has a dreadful impact on mental health. We have a whole Support Hub with links and signposts to all manner of external help and support, including 24-hour mental health helplines.

The Samaritans report that financial distress is a common factor in men’s suicide, so it’s crucial to address the emotional impact of money troubles on mental well-being. The National Suicide Prevention Alliance and the Samaritans can help if you’re in crisis.

Money Worries or Mental Health: Help is Here

The combination of financial hardship and poor mental health can create a vicious circle. Men experiencing depression or anxiety may struggle at work or with keeping on top of money, worsening their problems, and exacerbating mental health issues. This cycle can lead to social withdrawal, relationship strain, and increased risk of substance misuse – all of which contribute to further mental health problems and thus a downward spiral.

There is help available. Not only is it here in our Support Hub, but initiatives such as Movember and CALM (Campaign Against Living Miserably) now address the link between financial hardship and men’s mental health, encouraging open conversations and offering resources for men to access support and eliminate any stigma associated with financial struggles and mental health. The first thing to do is talk.

Movember: Men’s Health in Mind

Movember though? Isn’t that just a facial hair fest? Whilst Movember is, indeed, a facial hair fest, it’s so much more. Movember is now also known as Men’s Health Awareness Month and also encompasses International Men’s Day on the 19th. It’s an annual global campaign, encouraging men to grow moustaches and participate in various activities to raise awareness about men’s health issues. Movember focuses on promoting physical and mental well-being among men, addressing issues such as prostate cancer, testicular cancer, mental health challenges, and suicide prevention. Movember encourages men to discuss their health openly, seek support, and take proactive steps towards a healthier and happier life.

Movember is so synonymous with the eleventh month of the year, it’s as though Movember’s been around forever. Somewhat incredibly, though, Movember has only just come of age, celebrating its 21^st birthday this year.

Movember Matters

Stylish and decorative facial hair has enjoyed something of a fashion resurgence with the fellas recently. That certainly wasn’t the case back in 2003 when two Aussie mates got together for a pint, or a ‘cold one’ as those Down Under tend to call it. Travis Garone and Luke Slattery had a laugh about bringing back the moustache as a fashion trend. Could it even be done? Inspired by a friend’s cancer fundraiser, they turned their idea into a cause, raising awareness of men’s health issues which often went unnoticed. Initially, the focus was prostate cancer and that first “Movember” challenge saw 30 men grow moustaches to raise awareness.

The following year, Movember formalised its cause, partnering with the Prostate Cancer Foundation of Australia, raising over fifty thousand Australian dollars. By 2005, with creative help and a clear campaign theme, Movember’s reach expanded stratospherically, drawing over 9,000 participants and raising over a million dollars.

Making a Difference for Men’s Health

In 2006, the founders established the Movember Foundation, making it a full-time commitment and expanding their focus to include men’s mental health, a subject which was rarely talked about. International campaigns followed, including here in the UK, the US, and New Zealand. With global support, Movember has since raised over AUD 730 million to fund programs for men’s health issues such as prostate cancer, testicular cancer, and mental health. Movember’s mission remains to improve men’s health and spark conversations around key issues affecting men’s well-being.

Many of these critical issues simply weren’t discussed until relatively recently. Movember has helped spark conversations and reduce stigma – vital for any health and wellbeing issues, and perhaps especially for men who are renowned for not talking about such things. However, the job is far from done.

Get it off Your Chest

Men’s Mental Health particularly needs to be discussed more openly. For generations and generations, men have been expected to hide or even control their emotions. It’s been implied for years that feeling sad, or worse, depressed, is a sign of weakness. Phrases like ‘man up’ and ‘boys don’t cry’ are unhelpful at best and damaging at worst. Things have started to get better, as the Get it Off Your Chest report from mental health charity, Mind, shows. There’s also Mentell, a dedicated charity for men’s mental health which has helped many men, but there’s still a way to go.

Awareness of men’s mental health issues, and the factors – such as money worries – that have a negative impact, are vital. Mind’s statistics on men’s mental health and suicide are a stark illustration

• Suicide rates: In 2019, men accounted for 75% of all suicide deaths in England and Wales. The suicide rate for men in 2019 was 16.9 deaths per 100,000 people. Men aged 45–49 had the highest age-specific suicide rate at 25.5 deaths per 100,000 men.
• Mental health problems: 1 in 8 men experience symptoms of mental health problems, compared to 1 in 5 women. 35.2% of men think they have had a mental health condition at some point in their life, and 19.5% have been professionally diagnosed.
• Work-related mental health: 191,000 men per year report that work caused, or worsened, their stress, depression, or anxiety.
• Cost of living crisis: Mind says that the cost-of-living crisis is contributing to a mental health emergency.

Mind believes that the government, NHS, and employers need to do more to support men’s mental health. Until then, there are several non-judgmental sources of help and advice – in terms of both financial problems and mental health. There is help out there. Professional help, practical help, supportive help – and above all, always non-judgmental help. Mind, Mentell, the Samaritans, Andy’s Man Club are just a few.  And please, remember it’s not just you.

The first step is to talk – and now you know who you can talk to. We promise, they’ll listen.

If you’re struggling with debt (or in financial difficulty), speak to a member of our team. We aim to help you understand all your options.