The Children’s Society has recently stated that nearly 2.5m children in England and Wales live in households with problem debt and financial worries.

The consequence of living in such an environment is that these children are at greater risk of having poor mental health than children being raised in debt free homes. Stress, depression and poor mental health problems are extenuated by living in an environment of problem debt and the stress that it causes.

There is often a cycle of debt/mental health problems which means that financial difficulties can exert pressure on the entire family, including children. Parents and carers can often be preoccupied by dealing with the fallout from problem debt and as a consequence not being an optimum state of mind to care for and look after their children. Because parents and carers are dealing with problem debt and the stress this imparts these anxieties can be transferred to their children.

Consequently, to offer assistance the Children’s Society has suggested that families with problem debt should be given breathing space to repay their debts and have stated that this would assist the good mental health of these households.

More should also be done to assist and help households deal with financial difficulties. This is why the government, via the state sponsored Money Advice Service spends £45m a year to help people with free debt advice and help deliver 380,000.00 face-to-face sessions.

This is supported by the government’s historic £1.4bn investment into improving children’s mental health services. The Children’s Society are supporting schools to teach children about mental health and well-being.

This illustrates a clear link between problem debt and poor mental health. Hopefully, as this link becomes more established and recognised, more help will be offered by the government and partner agencies to assist with the difficulties.

If you’re struggling with debt please don’t hesitate to contact me on 0845 287 0939. Alternatively please complete the online enquiry form.