News
Debt Awareness Week: Supporting colleagues facing financial stress
Debt Awareness Week highlights the importance of breaking down the stigma and shame often associated with financial difficulty and encouraging open conversations about seeking help.
At The Solicitors’ Charity, we know that financial challenges can have a significant impact not only on financial stability but also on emotional wellbeing. That’s why we work closely with Onebright, our emotional wellbeing partner, who provide professional therapeutic support for individuals referred through the charity.
Insights from Dr Julia Lyons, Principal Clinical Lead at Onebright, help highlight how financial stress can affect individuals and what organisations can do to support their people.
Financial pressure and emotional wellbeing
It is perhaps not surprising to hear that the number of individuals in debt has increased in recent years. In 2024, 22% of the UK population – nearly 12 million people – were at risk, struggling with bills and credit commitments or using high-cost credit to cover essential expenses.
Debt can be a significant challenge for many people. Worrying about personal finances can contribute to mental health difficulties such as anxiety, depression, and stress. Research shows that over 1.5 million people in the UK are experiencing both problematic debt and mental health challenges, yet only around a third of people in financial debt receive help.
The workplace impact
While financial strain is rarely the only factor affecting someone’s wellbeing, it frequently contributes to cognitive overload, rumination and worry, sleep disruption and emotional exhaustion.
Many employees continue to show up for work but feel mentally preoccupied or depleted. This quiet strain often goes unnoticed until it begins to affect wellbeing, relationships or performance more visibly. Some common signs that financial stress may be affecting someone at work include:
- Absence: taking an unusual amount of time off work
- Reduced tolerance: overreacting to situations in the workplace
- Pessimism: focusing on the negative aspects of the job
- Performance issues: struggling to concentrate or complete tasks
- Isolation: withdrawing from colleagues or worrying about what others think
- Low confidence: turning down opportunities for development or promotion
Mental health and financial worry
The relationship between financial difficulty and mental health is well established. People who are behind on household bills or struggling with debt are more than twice as likely to report very poor mental health compared with those without financial difficulties.
In therapeutic settings, financial stress is rarely just about money. It can affect people’s sense of safety, control and self-worth. When worry feels relentless, or shame prevents people from speaking up, anxiety and depression may follow. If someone already experiences mental health challenges, financial pressure can exacerbate existing symptoms. This is why financial wellbeing should be understood as part of mental health prevention, rather than a separate or secondary issue.
How employers can respond
There are several ways organisations can support colleagues who may be experiencing financial stress:
- Create an open culture where employees feel safe speaking openly with their line manager or HR team, they are more likely to share concerns and seek support early.
- Managers are often the first to notice when someone is struggling. They do not need to solve financial problems, but listening without judgement and signposting appropriate support can make a significant difference.
- When stress levels are high, people are less likely to seek out help that feels complex or hidden. Organisations should remind employees about the support available to them, including Employee Assistance Programmes, independent financial advice and access to psychological support.
- Financial stress is often accompanied by poor sleep and emotional fatigue. Where possible, short-term flexibility around hours or workload can help employees manage a difficult period.
Supporting the solicitor community
Years of economic uncertainty have left many households with limited financial resilience. For many people, money worries are ongoing rather than temporary.
At The Solicitors’ Charity, we recognise the close link between financial wellbeing and emotional wellbeing. Through our partnership with Onebright, individuals referred through the charity can access professional therapeutic support alongside other forms of assistance.
