mental health ,debt and money

[mirry]

I just read this on the money saving forums, so thought I would post a link on here if thats ok, for people to discuss.

http://blog.moneysavingexpert.com/20...guide-to-come/

[jacq]

Hi Mirry, A very interesting topic, i have just been on Martins blog and read through the messags boards and there are some terrible stories on there, lots of them from people just like me with anxiety. I supose i class myself as lucky as rather than get the urge to spend, the thought of being in debt and maybe losing my house makes me wary of spending. But i can see how out of control it can become with it being so easy to borrow, and i do think there should be wider checks on peoples income and outgoings over a longer period. That said a lot of relatives were quick to blame shops|lenders for the problem even though they themselves are aware of their relatives problems. One man says his sister with depression goes on a spending spree every 12 weeks or so and spends thousands, and a lady whos mother has althzeimers says that they give her a debit card with her pin on a piece of paper so she doesnt forget it as they dont want her to lose all of her independence. In cases like this i think you cant blame banks if you are enabling a loved one to keep on spending. I think the majority of famillies are aware of there relatives problems and would always do the best for them. My main concern would be who decides who should be classed as incapacitated to handle their own affairs, should the banks set their criteria or get a doctors opinion. When i first went to the doctors with my panic attacks he was horrified and told me never to mention it again and he would leave it off my notes, as i would never get a mortgage or insurance if i was classed as mental, and i have recently been asked by the dvla if i am being treated for a mental health problem. Some mental conditions are very clear cut and you know that there is no basic knowledge of accounts and money values, but i am educated and sensible 90% of the time, i would be devastated if in that 10% time i was told i am not able to look after my own affairs. I think the benefits system should be updated to take into account lesser mental health problems as worrying about money makes it that much harder to concentrate on coping and getting back to your old life.

Jacq x

[mirry]

It does make really interesting reading , and also its something people tend not to think about . I find with myself lately I am too afraid to go to the bank , and also like you I am afraid of debt.
But for some people with mental health problems they use money as a buffer against depression.
I am so pleased Martin is addressing this very important issue
and look forward to the report thats out in November or December ?

[Gordon]

Martin and his site (and Nigel from here) have helped me save almost 50 pounds a month! I just wish I had got this advice a couple of years ago!!

I tried to claim on my payment protection insurance on my credit card and was told I couldn't as mental health problems aren't covered so I was paying out money every month for something I could never cash in on if needed.

I look forward to this guide, it's going to save people money and even some lives.....

Gordon