Mental Health Awareness Week 2023: How to manage anxiety when dealing with debt

15 May 2023by Debt Free Advice

This year's Mental Health Awareness Week focuses on anxiety, and here at Debt Free Advice we want to provide insights on how to cope with anxiety for individuals struggling with debt.

More than often, having financial troubles can impact our mental health. When we feel down, it can be tough to keep track of our finances. And when we stress about money issues, it can be a source of anxiety.

It's completely normal to feel anxious when we're under pressure or in a threatening situation. People often describe it as feeling scared or uneasy, which can range from mild to intense.

Common symptoms of anxiety include:

Everyone’s anxiety levels are different. Some people find more situations stressful and experience more challenges in life than others, and they get more anxious as a result.

Luckily, there are ways to deal with anxiety that really work, and spotting the signs is the first step.

Try building these self-care tips whenever you start feeling anxious as doing them regularly can make a big difference:

If you owe some money to creditors, it's quite common to feel uneasy about opening their letters. But it's important to face your fears and open those letters. Ignoring them will only make things worse. You need to know how much you owe and if there's a deadline for payment.

If opening those letters still feels daunting, ask a trusted person to look after your post. A trusted person might be a relative, a friend or a support worker.

Don’t ignore the companies and people you owe money to, because if you do, they may continue to chase you rather than giving you time to sort things out.

Money Helper has more information on how to deal with your creditors when you’re experiencing poor mental health.

If you're feeling anxious about your debt, it's important to seek advice as soon as possible. Our team is here to support you every step of the way. You can reach out to us via phone or WhatsApp at 0800 808 5700, or through video call or web chat here.