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Money and Mental Health

An evaluation of a mental health and money advice service

Research shows that people who experience mental health problems are more likely to struggle with money. The reverse is also true, people who experience money problems have a higher chance of struggling with their mental health. Despite this, there is a lack of services offering support to individuals struggling to cope with these two topics combined.

Mental Health UK has launched the first ever UK wide mental health and money advice service delivered by telephone advisors covering England, Wales, Northern Ireland and Scotland. The specially trained advisors provide advice and 1:1 casework or signposting for further support. There will also be a website which provides information regarding mental health and money. The service hopes to engage 12,500 people through the telephone advice line and many more via the website.

It is hoped that the presence of the mental health and money service will provide clients with the tools and confidence to be able to manage and access support for their long-term mental health and money needs. The link between mental health and money allows for support and information to be tailored to address both these issues and their correlation, resulting in a more positive outcome.

 

How are McPin involved?

McPin have been commissioned to evaluate the Mental Health and Money Advice Service by assessing the impact of both the telephone advice line and the website on the money, mental health and wellbeing of those using the service. An evaluation of the service will be able to measure the effect of the service on both the mental health and money of the individuals using the service as well as provide key information and to influence future public policy work on mental health and money.

 

How is experiential knowledge being used in this research?

A project-specific steering group has been set up which includes people with experience of mental health and money problems. The steering group will provide input and advice on project decisions. Researchers from McPin will use and draw on the experiences of the telephone advisors, as well as their own lived experience of mental health problems to design and deliver the evaluation.

 

What is the current status of the project?

The evaluation will end in March 2019, although the Mental Health and Money Advice Service will continue beyond the timeline of the evaluation.

 

Where can I find more information?

More information on the project can be found on the Rethink website.

Find out about how the Mental Health and Money Advice Service can support you.

To speak to a researcher about the evaluation please contact Dan Robotham: danrobotham@mcpin.org