Tips for Managing Your Wellbeing During the Cost-of-Living Crisis

Over the last year we’ve seen huge hikes in petrol, energy and food prices and it’s likely you’ll be experiencing the backlash from these sudden increases in the cost of living. For many people across the UK, the rises in inflation have had an impact on their finances and ultimately their mental health.

According to the TELUS Health’s Mental Health Index, more than a third of the British workforce have said that inflation is their main cause of stress and that their mental health has declined.

How is mental health impacted by financial stress?

Financial stress can seriously affect our mental wellbeing and can cause anxiety, stress, depression and relationship issues, especially when you’re experiencing the following:

• You can’t manage to pay all your bills.
• You find yourself having to make difficult decisions about your spending.
• You face job insecurity, or you have to take on additional work to make ends meet.

Worrying about how you’re going to pay your bills each month, afford enough food for the family or even having to sell your home so you can afford the basics can take its toll on your wellbeing as you’re stripped of your sense of security.

If you’ve found yourself suffering from financial stress, there are a few ways you can help ease the worry.

Make a budget plan

This might seem like a daunting task and one you don’t want to face, but by putting a budgeting plan down on paper, you will have a clearer idea of how to manage your finances more effectively. And you never know, things might not be quite as bad as you first thought. This will give you a better understanding of your incomings and outgoings and where you can save on anything that isn’t essential, and being more prepared can help relieve some of the worry.

Take up more outdoor activities

Although this won’t resolve your money problems, enjoying outdoor activities can help you deal with any anxiety and stress you might be feeling. There are plenty of activities, like walking, cycling or running, that don’t cost anything (as long as you have the equipment already) but will put you in a more positive mindset. Perhaps replace one of your usual leisure activities such as dining out or going to the pub with a picnic in the park and that way you’ll save money as well as reaping the benefits of exercise and nature.

Talk with friends and family

You’ll be surprised at how many other people are experiencing the same financial worries as yourself during the cost-of-living crisis and although this won’t solve your money issues, it can make you feel less alone knowing that others are going through the same thing.

Practise relaxation techniques

When suffering from symptoms of stress, relaxation is one of the best ways to take time out and get a clearer perspective on your situation. Activities such as meditation, yoga, Tai Chi and even just switching off from your devices and listening to your favourite music can help to reduce stress and anxiety.