Break the money talk taboo to ease cost of living crisis for World Mental Health Day 2022

People across Leeds who find it hard to talk about their finances are being encouraged to break the taboo for World Mental Health Day (Monday 10 October 2022).

Research shows that some of us Brits can be tight-lipped when it comes to opening up about our financial health. With the cost of living crisis already taking its toll, health experts are encouraging anyone suffering in silence to talk to their friends, family, neighbours, charities, community organisations, church groups or health and care professionals.

In a survey earlier this year, 30 per cent of readers of Good Housekeeping magazine said they found talking about finances the most difficult topic of conversation – above politics, death, sex and religion!

This follows a much bigger survey carried out in 2020 by The Money and Pensions Service which found around 29 million Brits don’t feel comfortable talking about their financial situation. The same survey found that 48% of us have worried about money once a week or more in the last month. Top reasons for bottling up money worries included shame, not wanting to burden others and being brought up in a culture that avoids talking about money.

When we do talk about money however, 61% say they feel better and more positive about their financial situation, according to research conducted by Lloyds Bank.

The national mental health charity MIND has launched a campaign called If this speaks to you, speak to us for this year’s World Mental Health Day, and we are adopting this call to action for the cost of living crisis.

Dr Chris Hosker (pictured) is a Consultant Psychiatrist with years of experience working in the emergency department at St James’ University Hospital. He is also the  Trust’s Medical Director.

Dr Hosker said: “The state of our mental health declines when we’re facing hard times. Sadly, poverty is part of life for many of those we see in our mental health clinics and hospitals, with those experiencing the poorest mental health often being those who also suffer the greatest financial hardships.

“As the costs of living increase, we’re concerned that more people will be drawn into the combination of deteriorating mental, physical and financial health.

“We want people to be able to talk freely about how they are coping with the growing challenge of financial hardship so we can all work together to help them.”

Councillor Mary Harland is Executive Member for Communities at Leeds City Council. She said: “During this cost of living crisis lots of people are struggling with their finances which can take its toll on their mental health. It is important that people know how to access the help available in Leeds.

“The more comfortable people feel talking about their financial difficulties, the more likely they are to reach out for support. Let’s all break the taboo of talking about money worries and make sure people get the support they need during these difficult times.”

Where can I get help?

The Leeds Anchors Network, a group of the city’s largest and mainly public sector employers, has launched a campaign called Together Leeds – Helping with the Cost of Living. They’ve been promoting opportunities for Leeds residents and their own employees to access the support that’s on offer.

If you are struggling with your mental health, including with financial worries, and don’t know who to turn to, visit MindWell Leeds. This is a single ‘go to’ place for information about mental health in the city. It can help you find someone to talk to, or places you can go in an emotional crisis.

MoneyHelper aims to make money and pension choices clearer, cut through the complexity, explain what you need to do and how you can do it.

Use the Better Health-Every Mind Matters website to get a free Mind Plan – a personalised mental health action plan with practical tips to help you deal with stress and anxiety, boost your mood, sleep better and feel more in control.