Cost of living under strain

The survey found that one in two people were experiencing anxiety around paying their bills. YouGov surveyed 2006 adults in early September and discovered that 21 per cent of people without a previously diagnosed mental health condition, said that worrying about money was making them feel depressed, while 27 per cent of the respondents said they felt confident they could get by financially this winter.

The BPS has said the cost of living crisis could have a knock-on impact on already-struggling mental health services. The Society said that while government energy bill support was welcome, there was not enough support targeted towards those on the lowest incomes. 52 per cent of those surveyed were concerned about being able to afford food over the next year, and 50 per cent were concerned over affording fuel over the next year.

As well as the practicalities of being able to heat homes and put food on the table, people are also carrying the mental health load of living under this strain.

The survey also highlighted a disproportionate impact on women – with 61 per cent of women reporting they were more anxious about being able to pay their bills than this time last year compared to 47 per cent of men. Women were also more likely than men to report that worries over money were making them feel more depressed.

Julia Faulconbridge, chartered psychologist and member of the BPS' Division of Clinical Psychology, said there was no doubt that the current cost of living crisis would increase stress, anxiety and worry for millions across the country, and would hit women particularly hard. 'We know women often shoulder more of the childcare and home responsibilities and are more likely to be in low-paid and insecure work, increasing their chances of being hit by rising prices, and subsequently experiencing greater anxiety, stress, and worry. There is a clear causal link between living in poverty and mental health difficulties. We know that the stress of raising a family in poverty can have a huge impact on parents' mental health, and poverty is one of the major risk factors for developing mental and physical health problems in children.'

Among those respondents with a mental health condition, 62 per cent reported feeling more anxious about being able to pay their bills than this time last year. Among this group 44 per cent said worries over money were making them feel depressed. Concerns also differed by age. Those aged 35 to 44 were more likely than other age groups to say they felt more anxious about being able to pay their bills than this time last year – 63 per cent compared with 55 per cent of all respondents. People from lower socio-economic status groups were also concerned about being able to afford food and groceries – 61 per cent compared with 52 per cent overall.

Chief Executive of the BPS, Sarb Bajwa, said the cost of living crisis was critical, immediate, severe, and impacted those that need support the most. 'As well as the practicalities of being able to heat homes and put food on the table, people are also carrying the mental health load of living under this strain. We are incredibly concerned that many simply will be unable to cope, with nowhere to turn to get help as services are already stretched and struggling to cope with soaring demand. We urge the government to target support to those on the lowest incomes, and ensure benefits rise in line with inflation. They must also make sure that there is the necessary funding in place for mental health services so they can try and cope with the inevitable surge in demand we will see this winter.'