…this guide will help you take the
first steps towards taking control of
your finances and offer links to
additional support…

Money worries can be very stressful and damaging to your mental health, or managing money can be harder due to your mental health.

Whether you are employed or unemployed, money worries can cause uncertainty, stress and anxiety. This worry often creates a ‘vicious cycle’ where worrying about money leads to difficulty managing money.

Money worries can also create feelings such as shame, embarrassment or guilt, causing you to become withdrawn or depressed.

Avoidance Cycle

Avoidance is easy to do when you feel stressed, because it feels easier than facing up to the problem,
but it is only a temporary fix.

The more you avoid it, the scarier it can feel and, when it comes to money, the worse the problem can get

This toolkit will explain how to break you finances down, understand them and know what to do next. The sooner you start, the better you will feel.

Facing up to the problem can feel overwhelming, so take steps to boost your confidence before starting to look at your finances. Try the exercise below…

your Finances

If you find that you have more money going out than coming in, it is important not to panic or ignore the situation. We would advise you to seek free debt advice.

Use this table to work out your spending each month.

A good way to find out all the amounts is to check your bank statement. This can be done online, on a mobile banking app or you can get a printed copy off your bank.

Make some small changes

Notice where your money is going and ask yourself:

Are you spending too much on something eg. electricity, phone bill?
Is there an area of spending you can cut back on eg. buying coffee out, a hobby?


Save money on electricity bill


  • Research alternative electricity suppliers
  • Contact your chosen supplier
  • Cancel current supplier and switch over

Prioritise your bills, rent or mortgage,
food and household essentials – make
sure these are covered as soon as
soon as you get paid.

It’s also good to try to work out an
affordable repayment plan if you are
currently in debt.

Useful Links

These organisations can support you with your money worries:

Mental Health & Money Advice
Provides information and advice for people with mental health and money issues.
Website: www.mhma.org.uk/toolkit

StepChange Debt Charity
Free debt advice and a wide range of debt solutions.
Website: www.stepchange.org or call 0800 138 1111.

National Debtline
A charity that gives free debt advice by phone and webchat.
Website: www.nationaldebtline.org or call 0808 808 4000.

Money Advice Service
Set up by the government to offer free, impartial money advice.
Website: www.moneyadviceservice.org.uk or call 0800 448 0814.
Debt advice locator tool: www.moneyadviceservice.org.uk/en/tools/debt-advice-locator.

Provides practical support when people are struggling financially. They have a useful benefits
calculator on their website, and you can also search for charities who may be able to provide you
with grants to buy essential items.
Website: www.turn2us.org.uk

This toolkit is produced by our partners at Mind Solent. They offer some fantastic training courses to help manage your teams mental health and wellbeing.