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Monday, 15 April 2019 16:02

32% have mental health issues from money worries

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Close to a third of UK workers (32 per cent) have revealed they have suffered mental health issues due to money worries.

The findings, unearthed in a new poll from GettaSub, the short-term employee finance provider, shed light on the extent of financial fears in the UK.

The survey, which quizzed 2,000 workers across the country about their financial well-being, highlighted on the pressures facing employees in terms of what the surveyors called “soaring living costs, transport fares and heating bills”.
 
More than one in ten (13 per cent) said they were planning to skip a day of work in the next month to avoid paying for train fares.

Meanwhile 59 per cent said that personal financial concerns were the biggest causes of stress and anxiety in the workplace.

  

Additionally, 34 per cent said money worries have kept them awake at night at least three times a week.
 
Nearly half (44 per cent) said they were not getting enough support from their employer for financial advice.

When questioned about what support is currently offered to them, over a third (37 per cent) believed that their HR department does not provide the right standard of support for employees with financial problems.
 
The research found that 57% of employees believed employers should do more as an organisation to financially support workers.
 
Ann Marie Bell, director, GettaSub, said: “It’s clear that rising living costs and economic uncertainty is taking a heavy toll on workers and employers need to get a grip on this crisis.

“Sitting back and doing nothing is no longer an option - bosses must recognise that they have a duty of care beyond the traditional pay cycle, offering practical advice and options of financial support for those who need it most.

“It’s shocking that so many people in fulltime work find themselves cash-poor when so much can be done to ease the burden.”

 

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