Promoting emotional wellbeing during the cost-of-living crisis: Jenny Ryatt

As we all face into a cost-of-living crisis, many people will be feeling anxious about rising costs and meeting payments.

And while anxiety is a normal emotional response, when it gets out of control it can impact our wellbeing.

This is why the Mental Health Foundation have chosen to focus on anxiety for this year’s awareness week.

At the start of this week, Mark Rowland, Chief Executive of the Mental Health Foundation, explained: “Across the UK millions of people are experiencing levels of anxiety that is stopping them from living their lives, with many not speaking out and struggling to cope. More can and must be done to protect our mental health. A big focus of our Mental Health Awareness Week is to encourage people to share their experiences on anxiety and increase understanding of the steps we can take. However, the scale of the problems requires change that goes beyond individual action.

“We need governments across the UK to recognise and be honest about their roles in the causes of and solutions to high levels of anxiety.

“We can’t treat our way out of a mental health crisis; we need action which tackles the root causes of poor mental health including poverty, financial strain, bullying and discrimination.”

As he notes, financial matters are one of the factors that can affect mental health and it is important for businesses to do everything they can to support customers who might be suffering with ill mental health as a result of their financial worries.

A recent survey by the Mental Health Foundation found that anxiety is one of the most common mental illnesses and a quarter of adults said they felt so anxious that it stopped them from doing the things they want to do.

At Leeds Building Society, we are know that many mortgage holders will be feeling some degree of anxiousness regarding their repayments during the current economic instability.

Our team of specialist advisors are here to support the growing number of customers who need help navigating the cost-of-living crisis and we have recently delivered additional training for colleagues to support members facing financial difficulty.

We don’t want anyone to struggle in silence and would urge anyone who is worried that they can’t make mortgage repayments to get in touch as soon as possible to discuss the range of options available to them.

We can help our members by creating tailored plans to manage their repayments, and where appropriate we can support them in accessing specialist debt advice.

We understand that life events such as bereavement or illness can make it harder to keep on top of finances, and there is lots of support available for people facing these concerns.

Whatever the situation, our friendly team work closely with members to find a tailored solution.

Just talking to us won’t affect credit scoring, but could make a huge impact on members lives and mental wellness.

Jenny Ryatt is Director of Mortgage Services at Leeds Building Society