Your mental health can have a big impact on your financial situation and constantly worrying about money can also cause your mental health to deteriorate. It’s often a vicious cycle but there’s always a way out.

Sometimes people feel embarrassed about discussing their financial situation or their mental health but there’s nothing to be ashamed about. Talking to someone will help you feel more in control of the situation.

There are many places you can go for free debt advice. Whether you feel more comfortable talking to someone in person, over the phone or through an online chat, there’s something for everyone. Your friends and family can also be a vital source of support.

If you find yourself falling behind with financial commitments, there are some easy steps you can follow to improve your situation.

Put measures in place to limit your spending capacity if you know you often spend impulsively when you’re unwell. One way of doing this is to open a basic bank account, which doesn’t have an overdraft facility. You could also hand over your credit cards to someone you trust until you feel better again. Although make sure you leave yourself with enough to get by on so you’re not tempted to borrow more.

You may feel anxious about talking on the phone or opening your post, particularly if it’s about money you owe, but it’s important not to ignore these things. You may start incurring more charges for non-payment, especially if they’re not aware of your situation. Ask a trusted friend or family member to help you out if you feel like you need extra support with opening post and emails.

Letting your creditors (this is anyone you owe money to) know about your mental health issues will help them to better understand your situation and could make them more sympathetic when following up on your debt.

Some of the ways creditors may agree to help you are by:

You may be asked for a Debt and Mental Health Evidence form (DMHEF) as evidence of your condition. Ask your GP or a mental health professional, like your psychiatrist, to fill one out for you. You can then photocopy it and send a copy to each creditor.

Some debts have more serious consequences than others if you don’t pay them.

These are your priority debts. They aren’t necessarily the largest or the ones with the most expensive interest rates but not paying them could mean you receive a court summons, you’re visited by the bailiffs or you even lose your home.

Priority debts include things like:

Non-priority debts are things like:

Make a list of all your debts and categorise them into priority and non-priority. Once you’ve done this you’ll have a better idea of what you need to pay attention to first.

It may sound obvious, but if you’re already struggling to pay day-to-day bills or to keep up with loan repayments, you need to make sure you’re not borrowing more money. It may be tempting to take out another loan to pay back what you already owe but the more you borrow the more you will need to pay back.

Taking control of your finances means knowing exactly what you have coming in and going out of your account each month. It will help you identify if there are any outgoings you can reduce to improve your finances.

If you’re struggling with your mental health you could be entitled to certain benefits. You'll need to be assessed to find out whether you qualify but if you’re working these include.

Find out more about the benefits available to people with mental health issues at Turn2Us.

You might also be able to get help with certain bills. There are council tax exemptions available for people whose mental health affects their everyday life, for example.

Find out more at gov.uk.