Debt and money worries can lead to intense psychological, emotional, and social pressures that increase our vulnerability to suicidal thoughts.

Some of the things we might experience when struggling with debt and money worries include:

Overwhelming stress: Financial problems can feel insurmountable, leading to chronic stress and feelings of being trapped.

Shame and embarrassment: Social stigma around financial struggles can lead to us feeling ashamed or like we’ve failed.

Hopelessness: A sense of losing control over our life or future can make it feel there is no way out.

Anxiety and depression: Persistent money worries can contribute to anxiety and depression, both of which are significant risk factors for suicide.

Sleep disruption: Financial stress often leads to insomnia or poor sleep, exacerbating mental health issues.

Social isolation: Financial troubles can cause conflicts with loved ones or lead to social withdrawal. People may isolate themselves due to shame, reducing access to emotional support.

Catastrophic thinking: Individuals in financial distress may overestimate the severity of their situation, believing there’s no solution.

Perceived burden: They might feel like a burden on loved ones, leading to the belief that their death would relieve others.

Practical issues - Job loss, eviction or bankruptcy can heighten feelings of despair and inadequacy as the we experience a loss of security. It can contribute to feelings of hopelessness making it difficult to see how things can get better. It is important to get advice and support. Places like the Citizens Advice Bureau provide advice and information that can help.

Getting professional advice and support can help us find a way to manage with the current situation. It can help us feel empowered and support us to develop a plan for the future to help things feel more manageable and provide a sense of hope.

Supporting someone struggling to find a solution to debt requires empathy, patience, and practical assistance.

Listen without judgement - Allow them to express their feelings and concerns without judgment. Create a safe space for them to share their thoughts and emotions.

Encourage professional help – suggest seeking support for what they’re going through. There is information about organisations that can help in our support directory. If they’re struggling with their mental health, suggest speaking to their GP.

Stay connected - Stay connected with them regularly and check in on how they're doing. Sometimes people withdraw socially and isolate themselves when they’re struggling. Try to respect their need for space but let them know you care and are there for them.

Encourage self-care – remind them of the importance of self-care through things like exercise, regular sleep and staying hydrated. Perhaps suggest something you can do together such as going for a walk.

Reassure them - Remind them that things can get better with time. Talk to them of their strengths and past successes in overcoming challenges. This can encourage them to draw on their resilience to face their current struggles.

If you’re worried about their safety, suggest reaching out to a health professional or a crisis helpline if they are experiencing thoughts of suicide.

The causes of debt and money worries can take time but sometimes taking practical steps to help make money worries feel more manageable can help us cope with the stress and anxiety we may be feeling.

Create a budget – tracking income and expenses can help us see if there are any areas where we’re spending money unnecessarily and think about how we’re allocating money for essentials and debt repayment.

Prioritise expenses – identify essential expenses such as housing, utilities, food and transportation and pay these first and cut back on non-essential expense where possible.

Explore debt management options – research debt management options such as debt consolidation, debt negotiation or debt settlement. Consider getting financial advice that can support with this.

Communicate with creditors –many creditors are willing to work to find solutions for someone facing financial difficulties so if you’re struggling to make payments, try speaking to your creditors about your options.

Seek additional income - explore opportunities to increase income through part-time work, freelancing or selling unused items. Even small sources of income can help.

Stay informed – articles, books, workshops on personal finance and money management can be empowering and help money worries feel more manageable.

Seek support – talking about money worries with others can help with feelings of isolation and provide new insights and perspectives that provide ideas for managing finances.

Practice self-care – looking after ourselves physically and mentally can help us better cope with anxiety and stress. Self-care activities can include exercise, meditation, adequate sleep, and spending time with loved ones.

By taking proactive steps to address financial challenges and adopting healthy coping strategies, money worries can feel more manageable over time.

Find information about where you can access support, advice and resources that can help in our support directory.