MoneySavingExpert.com founder Martin Lewis has set up the new Money and Mental Health Policy Institute, funded with a pledged £2.1m donation over four years. Here he writes exclusively to explain why
Debt and mental illness: a marriage made in hell
1. You are four-to-six times more likely to have debt crisis if you have mental health issues. 2. Half of those seeking debt help have mental health issues. 3. The treatment time for clinical depression can be 18 months longer for those with financial problems too.
The two feed off each other. Debt crisis can trigger clinical depression, anxiety attacks and more; mental illness can build debts. Breaking the link would help individuals, the NHS and the economy.
Yet many who admit to me t…
Read the full article at: http://www.telegraph.co.uk/personal-banking/credit-cards/martin-lewis-debt-and-mental-illness-are-a-marriage-made-in-hell/