Money Worries Damaging Mental Health among Students

  • John Baird -
  • 5th September 2019 -
  • 2 minutes to read

Concerns about money are hugely widespread among students across the UK and for a significant proportion those issues are having a negative impact on mental wellbeing.

That’s according to the findings of a recent study by an organisation called Save the Student, which has highlighted the impact that financial problems can have on young people and others in higher education.

As many as 79 per cent of students say that they worry about making ends meet on a regular basis and 57 per cent say that it’s having a harmful effect on their mental health.

In addition, around a third (35 per cent) of students say that money worries have an impact on their studies, while the same proportion say that those issues sometimes damage their relationships with other people.

Another concern for students who are worried about money is that they might lose sleep as a result and 41 per cent of those polled by Save the Student say that they’re already doing just that at least some of the time.

“Student life and money go together like chips and gravy: it’s great when it clicks, but tough to stomach when it doesn’t,” Save the Student says.

“Unfortunately, this year’s National Student Money Survey reveals that more students than ever before are struggling to make ends meet – and the stress is very real.”

The organisation behind the recent research makes clear that “being skint” is bad for the mental health of students across the country, with a lack of funding and more general support cited as key reasons why those problems are now so widespread.

There are lots of different sources of money available to students as they attend university, with parents often making crucial contributions and maintenance loans taken up by a majority of full-time students.

But debt also has a big role to play in the finances of students, with significant numbers using credit cards and overdrafts, and others even turning to the high cost credit available through payday loans.

Save the Student says students should always focus on budget plans if they’re really worried about money and the organisation emphasises the importance of accessing grants and other forms of financial support if they’re available.

John Baird
John Baird
Partner
About

Why Choose Us

5 Offices in Scotland
5 Offices in Scotland
National Coverage
Ask us About
Ask us About
We Do Home Visits
Helping Scots Get
Helping Scots Get
Out of Debt Since 1989
We offer a
We offer a
Free Initial Consultation
We'll Help You
We'll Help You
Lower Monthly Payments
You'll Get
You'll Get
Peace of Mind

We'll give you a call

Our Scottish based team can help advise you on your debt problems.

When should we call?
Can we leave a message?
Here at Scotland Debt Solutions we take your privacy seriously and will only use your personal information to contact you with regards to your enquiry. We will not use your information for marketing purposes. See our Privacy Policy.
Tools

Useful tools

Personalised Debt Report

Personalised Debt Report

Our personalised debt report will help you better understand your financial position and see where your money is going.

Free Scheduled Call

Free Scheduled Call

 Arrange a call with an expert advisor at a time to suit you.

Find a Local Office

Find a Local Office

We have five offices located across Scotland. Find your nearest one here.

Close Menu Share with a Friend

Send this page to a friend

via Whatsapp via Messenger via Messenger via Email
Make sure you have WhatsApp installed.

Copy link to clipboard
Close