Money on my mind: over half say money worries are affecting their mental health
With energy bills and groceries causing the most financial stress
With Mental Health Awareness Week taking place from 12th May, new research* released by Go.Compare has found that money is a common source of mental upset, with more than half of Brits (54%) saying their financial situation has affected their mental health.**
The survey of over 2,000 Brits found that money is a significant cause of stress, with nearly 4 in 10 people (38%) saying they sometimes feel stressed by their finances, 17% saying they often feel ‘stressed and negatively impacted’, and 8% admitting they feel ‘constantly stressed’ about their financial situation.
Matt Sanders, Go.Compare money spokesperson, said: “With the cost-of-living still high and bills continuing to rise across the board, it’s not surprising many are feeling stressed and worried about their finances.
“Our latest research shows that the majority of Brits have felt some level of stress due to their financial situation, which shows that the effect of these rising costs isn’t small or isolated.”
The survey, which quizzed over 2,000 UK residents about their money worries, found that nearly a third of people (32%) are more worried about their finances now than they were this time last year.
The research also asked those dealing with financial stress which bills are giving them the biggest headaches, and energy bills are at the top of the list.
|
Bill / Expense |
% who feel this causes them the most stress** |
|
Energy bills |
44% |
|
Groceries |
29% |
|
Council tax |
27% |
|
Paying back debt/overdrafts |
21% |
|
Mortgage payments |
17% |
|
Cost of fuel (petrol / diesel) |
17% |
Matt Sanders continued, “Many of the rising costs households are facing are outside of our control, such as the cost of our weekly shop, or how much we spend filling up the tank. However, there are ways to help trim down our expenses.
“When it comes to something like our energy bills, being as energy efficient as possible can help - lower the temperature of your clothes wash, batch-cook where possible to cut down energy use in the kitchen, and if you have a lower off-peak energy cost, make sure you are making the most of it. It’s also important to remember that your energy supplier is obligated to help you if you’re struggling to pay the bills, so reach out to them in the first instance and discuss any issues you are having.
“There are also a number of charities that help if you’re in financial hardship, including National Energy Action, Citizens Advice and National Debt Line. Financial stress is made worse if it is something you are struggling with alone - so we urge anyone who is struggling to make use of resources like these.”
For more advice on saving money, visit: https://www.gocompare.com/savings/money-saving-tips/ .
-ENDS-
Contact Information
Rosie Johns
Notes to editors
*These findings were from research conducted by Censuswide, among a sample of 2,001 nationally representative UK consumers (aged 16+). The data was collected between 25.04.2025 - 28.04.2025. Censuswide abides by and employs members of the Market Research Society and follows the MRS code of conduct and ESOMAR principles. Censuswide is also a member of the British Polling Council.
**1,085 respondents said their financial situation has negatively impacted their mental health.
For further information please contact:
Lynsey Walden or Kath Chadwick at Go.Compare on lynsey.walden@gocompare.com or kathryn.chadwick@gocompare.com.
Keep up-to-date with Go.Compare on X (Twitter); @GoCompare
About Go.Compare
Go.Compare is a comparison website that enables people to compare the costs and features of a wide variety of insurance policies, financial products and energy tariffs.
It does not charge people to use its services and does not accept advertising or sponsored listings, so all product comparisons are unbiased. Go.Compare makes its money through fees paid by the providers of products that appear on its various comparison services when a customer buys through the site.
When it launched in 2006, it was the first comparison site to focus on displaying policy details rather than just listing prices, with the aim of helping people to make better-informed decisions when buying their insurance. It is this approach to comparing products that secured the company an invitation to join the British Insurance Brokers’ Association (BIBA) in 2008, and it is still the only comparison site to be a member of this organisation.
Go.Compare has remained dedicated to helping people choose the most appropriate products rather than just the cheapest and works with Defaqto, the independent financial researcher, to integrate additional policy information into a number of its insurance comparison services. This allows people to compare up to an extra 30 features of cover.
Go.Compare is part of Future Plc and is authorised and regulated by the Financial Conduct Authority (FCA).
More information can be found here www.gocompare.com