Rising Debts Impacting Scots’ Mental Health

Issues associated with increasing debts are having an impact on the mental health of adults across Scotland.

According to a new piece of research, the cost of living crisis is taking a massive toll on the wellbeing of people living right across the country, with increasing debt levels a significant part of that picture.

More than half of over 1,000 Scots polled recently said that the cost of living crisis is having a negative impact on their mental health, with 31 per cent citing personal debt problems as a major concern.

The research was carried out by the Royal College of Psychiatrists in Scotland and found that worries about rising energy bills and increasing food prices are now enormously widespread throughout the country.

Just over a quarter (27 per cent) of the people polled by researchers said they had experienced poor mental health over the course of the past 12 months.

The Royal College of Psychiatrists has said its findings highlight the importance of making sure that mental health budgets are increased or at least maintained heading into the new financial year.

“We cannot provide medical solutions to society’s economic problems, but we do need to support people with mental disorders to cope with the extra challenges,” explained Dr Jane Morris, vice chair of the Royal College of Psychiatrists in Scotland.

“This is why it’s very important that whoever becomes the new first minister continues to prioritise mental health and look at reversing the freeze on mental health budgets for 2023/24.”

Dr Morris also pointed out that the connections between financial difficulties and mental health problems are well established from a medical perspective.

She noted that the reverse is also true in that many people who experience poor mental health often find it tough then to manage their money and keep on top of their personal debt situations.

Explaining in simple terms how the cost of living crisis is impacting people, Dr Morris said: “From relationship breakdowns to worries about crippling debt and wondering how you’ll pay for the next energy bill or feed your children - these situations are tough and can have an enormous effect on anybody’s mental health.”

If you live anywhere in Scotland and you are worried about your personal debt situation then Scotland Debt Solutions can help. Contact us directly to arrange a FREE and confidential consultation.