Why talking about money matters for your mental health in 2025

‘Money talks’, so the song by Adventures of Stevie V goes; and yet we Brits struggle to talk about our money problems.

Whether it’s fear of judgement, relationship strain or job insecurity, financial worries are often kept behind closed doors – and that silence can take a toll on our mental health.

According to the Money and Mind Report 2025, more than half of UK adults surveyed say financial concerns are impacting their mental wellbeing.

And with 43% of people worried about their finances, the issue is far from going away.

“Financial difficulties are often seen as personal failure which can lead to guilt and shame”

Silvia Cordoba, Mental Health & Wellbeing Coach, Vitality

“There’s still a lot of stigma around debt and money worries,” says Rob Harvey, Vitality’s Adviser Editor.

“Men in particular are affected, with financial anxiety being one of the leading mental health issues.”

Silvia Cordoba, Vitality’s Mental Health & Wellbeing Coach, adds: “Money plays a crucial role in providing many of our basic needs: food, shelter, clothing, to name just a few,”

“These are essential not only for survival, but also for helping us feel safe and secure,” she adds.

“When we feel secure, it helps set the foundations for a healthy level of mental wellbeing.

“The uncertainty around finances may cause us to feel vulnerable and perhaps less able to manage that stress in healthy ways.”

Why we struggle to talk about money

Research shows that 20% of Brits surveyed would rather talk about their relationship problems than their money woes.

That’s a powerful indicator of how deeply uncomfortable the topic can be.

Cordoba explains: “Financial difficulties are often seen as personal failures, which can lead to guilt and shame.

“But these struggles are common and are nothing to be ashamed of.”

This stigma can cause people to withdraw, isolate themselves and avoid seeking help – even from those closest to them.

And when financial stress is left unspoken, it can spiral into more serious mental health challenges, including anxiety, depression and burnout.

The link between money and mental health

Vitality’s own data from the 10 Years of Britain’s Healthiest Workplace report shows that financial stress is one of the top drivers of poor mental health among UK employees.

The report highlights that younger generations are disproportionately affected, showing higher rates of depression, burnout and stress linked to money worries.

But the rise in mental health concerns is not just a workplace issue. It’s a societal one.

“Being honest about money worries is a strength not a weakness”

Silvia Cordoba, Mental Health & Wellbeing expert, Vitality

Vitality’s Health Claims Insights Report 2025 shows a 167% rise in claims for Talking Therapies from 2019 to 2024.

Meanwhile, everyday care services – such as virtual GP consultations and mental health support – are now widely used, with virtual GP usage increasing sixfold since 2019.

Starting the conversation

Opening up about money isn’t easy, but it can be transformative.

Whether it’s a partner, friend or financial adviser, talking to someone can help relieve stress and offer practical support.

Try starting with:

• “There’s something I’d like to talk to you about and I’d really value your advice.”
• “I wanted to ask some advice – do you have time to chat?”

“It’s best to be open and honest about these things and the chances are they’ll have experienced similar things in many cases,” adds Harvey.

He does, however, warn to be “careful taking ‘financial advice’ from friends and family, as their circumstances could be quite different, but definitely don’t shy away from discussing money and having open conversations with a loved one.”

Meanwhile, Cordoba adds: “There’s no need to apologise. Being honest about money worries is a strength, not a weakness.”

Offering your help

If someone comes to you for help with a financial problem, it’s important to know how to help and support them.

First and foremost, being judgmental won’t help either party, even if it is a difficult conversation to have.

Being level-headed and not getting angry or upset can help both of you to think clearly about a situation and to move forward.

“Money is a sensitive topic and a good way to approach it, like anything, is with kindness,” advises Cordoba. “If you suggest any source of support, do it in a kind and caring way.”

She adds: “People who are struggling with any worries may not have the capacity to see it from an outside perspective and sharing any ideas of support or solutions can be helpful.”

Spotting the signs

As we’ve discussed, money worries can be a very personal thing and something people fear they will be judged on.

So, it’s not always the case that someone will want to reach out about their money worries.

“Make sure to practice listening without judgement”

Silvia Cordoba, Mental Health & Wellbeing expert, Vitality

Identifying that someone might be in financial trouble is the first way to help.

• Has anything happened recently in their personal life?
• Have they lost their job, or recently been made redundant?
• Perhaps they’ve split from their partner, or have they had to move out of their house?

If you do think someone is struggling with money worries, Cordoba suggests: “Check if they want to be helped. Secondly, approach this with kindness and empathy.

“Asking someone how they are doing in general might be a good start and showing genuine willingness to listen,” she says.

“Allow a person to share what they are going through and be heard, letting go of the need for ‘saying the right thing’.

“Make sure to practice listening without judgement so that they feel comfortable, this will help them more than you know.”

Want to know more about life insurance and whether or not you should take out a plan, visit our guide here: Is life insurance worth it? | Guide

Make it a positive

Talking about money doesn’t have to be negative. It can help you reach goals – whether it’s budgeting, saving, or protecting your income.

Most of us share similar outgoings, from groceries to rent.

By sharing experiences, we can learn new ways to manage money and explore options like Income Protection or other forms of life insurance.

If you’d like to talk to a professional about your money, whether you want to save more or budget, there are a number of helplines that you can call, including free debt advice from the UK government, or you can speak to a financial adviser.

Find out more about how Income Protection works with Vitality below.

If you want to read more about Income Protection and how it could work for you, read our guide here: Income Protection insurance explained | Guide

Practical steps to take

If you’re struggling with money worries, here are some steps you can take today:

• Talk to someone you trust – a friend, family member or professional.
• Use free resources – such as government-backed debt advice services.
• Explore protection options – like Income Protection or life insurance.
• Set small goals – whether it’s tracking spending or saving a little each week.
• Engage with wellbeing support – through your employer or health insurer.

And if someone comes to you for help, remember: listen without judgement, offer kindness, and guide them towards professional support if needed.

Related: Money can’t buy you happiness but it’s good to be financially fit