Although the number of people reporting mental health conditions is not increasing by any great degree, what is most troubling seems to be that there is a huge rise in the way people cope with problems such as anxiety or depression.
When it comes to managing finances, a direct link has been established between the state of a patient’s finances and their physical or mental health. It is important to understand this relationship because one problem feeds the next and before you know it, your life has spun out of control.
The Interwoven Relationship between Mental, Physical and Financial Health
In England, a government survey conducted in 2016 shows that almost 6 of every 100 people suffer from some form of generalized anxiety disorder. Many times, this is directly proportionate to their money worries and was especially prevalent during the Great Recession when many workers were unemployed. Emotional instability caused by anxiety can lead to missed time on the job which, in turn, can create a situation where the worker is let go.
Sometimes, anxiety is so severe that it can lead to such things as eating disorders. Some people overeat whilst others cannot get a bite down to save their lives – literally! All of this contributes to an inability to work a steady job, which then leads to insolvency.
It is hard to feed your family if you are unemployed unless you are claiming welfare benefits. But how do you do that? One option would be to seek help from your bank – Lloyds banking group for example have charity partners such as Mental Health & Money Advice, who provide guidance on their website.
Living with anxiety and other mental health conditions is not easy. While you can often survive with mild to moderate mental health issues, you cannot survive for any length of time without financial support! Understand the relationship in time to get help.
Some Troubling Statistics in England
If you are trying to figure out how to help someone with anxiety at work issues, there are some statistics you should be aware of. As of the abovementioned survey, here are the latest statistics on sufferers of mental illness in England. These figures are, of course, based on survey respondents in descending order:
- 9 percent report Generalised Anxiety Disorder
- 3 percent report Depression
- 4 percent report Phobias of one sort or another
- 3 percent report Obsessive Compulsive Disorder (OCD)
- 6 percent report Panic Disorder
Then there are other disorders also prevalent in workers and those which can often prevent them from holding a job or managing their finances.
- 4 percent report Post Traumatic Stress Disorder (PTSD)
- 8 percent are found to have mixed Anxiety and Depression
So, you can see how these numbers could take a bite out of the workforce and government funding for welfare assistance of one form or another.
What Benefits Can I Claim for Depression and Anxiety?
Unfortunately, when you or a loved one suffers from some form of mental health issue, it’s difficult to know where to turn for financial help. There are a number of government benefits, which could apply to you, but knowing which will cover your particular circumstances could be more than a little challenging. Some forms of assistance are dependent on your work history, but most are linked to your income, right now, and also what you’ve been able to earn in the past.
One of the programmes available to UK workers is the Employment and Support Allowance (ESA). This will help financially if you are unable to work or only able to work a limited number of hours due to mental illness. However, as with anything government does, it can be difficult to understand all the legal jargon. This is why it helps to get professional financial counselling so that you know what to apply for, help applying and advice on how to handle your finances once financial aid is forthcoming.
Never Be Afraid to Ask for Help
In the end, you should never be afraid or embarrassed to ask for help with your financial affairs if mental health issues keep you from earning a living or managing your affairs when you do have a few resources. There is no secret to the fact that depression and anxiety can cause you to act rashly, or not at all, as the case may be.
Professional advisers can help you manage your money so that financial woes don’t exacerbate your issues. Mental, physical, and financial health are intertwined to such an extent that if one suffers, you suffer all the way around. With help out there, there is no reason to suffer alone. Get help now before your problems are so severe that they are truly unmanageable.
If you are asking what benefits can I claim for anxiety and depression, the answer may be complex, but there is an answer. Talk to an adviser today so that you have an answer tomorrow. It really can be just that easy.
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