Rethink Mental Illness have joined with charities to support people with money issues.
Up to eight million people with mental health problems related to money (or potential) stand to benefit through the launch of a new charity aimed at helping UK individuals.
"The website signposts people towards free support. For example, you will be able to access debt management plans or work out what benefits you are entitled to or get help managing your money while in hospital, all for free and all explained in straightforward language."
Rethink Mental Illness have joined with their partner charities across the home nations to set up a website dedicated to supporting people with the role money plays in mental health.
Rethink regularly work with Hafal, Support in Mind Scotland and MindWise under the banner name Mental Health UK.
It claims to be the first service to combine support for people with mental illness who are struggling with their money, as well as people whose money problems are affecting their mental health.
The website signposts people towards free support. For example, you will be able to access debt management plans or work out what benefits you are entitled to or get help managing your money while in hospital, all for free and all explained in straightforward language.
Recent research with over 1,500 professionals and people affected by poor mental health highlighted the need for specialist support.
Of those surveyed nearly nine out of ten (87 per cent) wanted answers to mental health and money questions. Almost eight out of ten (78 per cent) wanted this information provided on a website while half of respondents (49 per cent) wanted to speak to a trained member of staff over the phone.
The free website provides a range of information, practical advice and tools such as template letters and calculators, tailored across the UK to ensure the advice is relevant and accurate.
In addition, the website will feature stories and advice from people with first-hand experience of mental health and money problems.
“Money problems and mental health issues like anxiety and depression can create a vicious cycle where problems can spiral," said Brian Dow, Managing Director of Mental Health UK. "At its worst this can lead to debt, family breakdown and even homelessness."
“This is why we are launching this first of its kind service; to provide some of the eight million people who are affected with somewhere to turn to. Somewhere they can get advice they can rely on and specialist mental health support.
“This new service will be able to help someone with schizophrenia who needs support managing their money and accessing welfare benefits, and someone struggling to pay their debts and bills whose mental health is deteriorating as a result."
“The service has only been made possible by the significant and generous funds raised by Lloyds Banking Group and its colleagues. Their hard work will mean that this resource will be available for anyone struggling with their mental health and money.”