Almost two-thirds (64%) of employees said their finances have made them feel stressed, anxious, or depressed, according to new research from Metlife UK.
The research, conducted by Opinium on behalf of Metlife UK with 1,428 UK part-time and full-time workers, highlighted that as the rising cost-of-living crisis continues to impact people’s finances, UK adults have seen their worries take an effect both on their own and their loved ones’ mental health.
Almost two-fifths (38%) reported that their finances were making them stressed or anxious, and 26% reported feeling depressed. More than three in 10 (31%) had experienced a loss of sleep due to worry, 21% felt mentally or physically exhausted, and 15% said that it had led to strain on their relationships.
Almost three-quarters (70%) did have someone to turn to, with 21% turning to a spouse for support, and 16% asking their parents for financial aid. However, 30% admitted that there is not anyone they would turn to for advice about money matters, causing feelings of worry and anxiety.
Rich Horner, head of individual protection at Metlife, said: “This latest research clearly shows that the ongoing cost-of-living crisis is putting extreme levels of pressure on UK adults’ mental health. After struggling through the Covid-19 pandemic, adults have been dealt another blow to their mental wellbeing, with now almost 40% of the adult population feeling stressed or anxious about their current financial situation.
“Strikingly, 30% of those surveyed said that they don’t have anywhere, or anyone, to turn to for support, and only 2% admitted to turning to professional help in the form of their doctor or employer.”