The Money and Mental Health Policy Institute is a new organisation backed by Money Saving Expert Martin Lewis. Launching in Spring 2016, the Institute will conduct research and develop policy proposals to improve the lives of those with mental health conditions and financial problems.
Surveys have shown that a quarter of people with a mental health problem have problem debts, too. And half of those in debt crisis have a mental health problem. Problem debt can make it harder to recover from mental illness, and three times as many adults with mental health problems report debt or arrears, compared to those without mental health problems. As our founder, Martin Lewis says:
"Debt isn’t just a financial problem, it causes relationships to break up, people to lose their homes and families to break down. Debt is a common problem for people living with mental health problems, and it can make those problems worse."