• Renters, women and the self-employed are more likely to have been affected
• People struggling to pay bills had 20% higher anxiety
• Those who’d had an income fall had a 16% rise in anxiousness
Laura Suter, personal finance analyst at investment platform AJ Bell, comments on the latest ONS figures on wellbeing in Coronavirus:
“Lockdown was bound to cause a spike in anxiety as people dealt with isolation and fears about the future, but we’re already seeing the impact that financial worries in particular are having on people’s mental health. The Government figures show that there is a direct link between a loss in income or worries about money and a spike in anxiety.
“Those who had seen their income fall reported 16% higher anxiety than those who hadn’t, while those struggling to pay bills had the highest levels of anxiety – at 20% higher than the general population. The worst affected are people who are renting, women and the self-employed as they are more likely to have seen a fall in income and be unable to save money, and so feel unhappy and anxious.
“As more people feel the financial impact of the current crisis hit, it’s likely we’ll see further spikes in anxiety among more of the population. But no one should suffer alone and anyone who has money worries should go to one of many sources of help out there, from the Government’s own financial support schemes to services like Citizens Advice, who can help direct you to claim benefits, get help from your bank or get debt support.”
