Money & Mental Health

General Chat
1

https://www.moneyandmentalhealth.org/

What do you guys think about this?

Personally I’m all for this - I’ve struggle in the past to feel comfortable with my finances (and I still do).

I would go as far as saying we should regulate to help people with mental health problems at least have a little bit less to worry about. They can’t take advantage of better deals if they can’t access the correct channels to do this.

I’d be all for mandatory 24/7 phone lines and live chats.

To clarify I’ve never had money troubles - but I do struggle with extreme anxiety with talking to people. I’m also energy-less and as such I can never go to a branch or call up due to a messed up sleeping schedule. (:joy: I’m writing this at 08:37 and I haven’t slept yet, bollocks)

As such I love being able to access it in ways that I find more accessible:

  • Live chat
  • E-mail

As opposed to:

  • Phone calls
  • Branch visits

This is why I still have a Metro account open… I don’t want to call them but I can’t get down to the branch anymore due to my college hours not having me up for their opening times.

I’m very excited that Lloyd’s Banking Group PLC are dedicating themselves to these standards in a partnership with the organization.

I hope HSBC/Nationwide/Barclays/RBS follows shortly to get the most coverage possible of account holders.

I also personally think that Fintech’s are helping people with mental health problems actually - having an instant view of my finances and merchant enrichment definitely helps when I just randomly forget where I’ve spent money and also helps me remember what I’ve bought.

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This is definitely interesting what does this platform do exactly? Does it offer advice?

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From my understanding it just campaigns to make it easier for those with mental health issues access financial services easier.

It does this with the backing of Martin Lewis and his large following - to put pressure onto the banks.

It’s currently partnering with Lloyd’s Banking Group PLC to bring a set of ‘accessible’ standards that Martin and his colleagues believe will help people with mental health problems be less bollocked out of money - as these people typically don’t go searching for the best deal, have tendencies to splurge more than they can afford and may find it difficult to even get in touch with someone to adequately have a shot with another bank (for instance may feel uncomfortable with PingIt style ‘walk-in to your local Barclays verification’)

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4

This is really cool! It’s good for people with mental health issues to be able to get the support they need to manage their finances. It must be really hard.

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It would be very good - even if it’s just with a small team of people so that the mental health team can actually get to know the clients personally (this personally reduces any anxiety for me)

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Yes this is certainly quite important. I work in a supmarket where some of our colleagues have issues and are on limited wages. So careful budgeting is important and they do need support for saving and money planning.
Xx

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