In control: a consultation on regulating spending during periods of poor mental health
- Authors:
- MURRAY Nic, HOLKAR Merlyn, MACKENZIE Polly
- Publisher:
- Money and Mental Health Policy Institute
- Publication year:
- 2016
- Pagination:
- 34
- Place of publication:
- London
One of many reasons people with mental health problems often end up in financial difficulty is because they struggle to control their spending when unwell. This paper sets out the psychological drivers of increased spending in people with mental health problems in periods of poor mental health and explores a range of possible solutions to prevent or limit this ‘crisis spending'. This includes solutions that could be put in place during a period of good mental health by the individual or those that aim to prevent or reduce the incidence of financially harmful behaviour during a period of poor mental health. It also considers the importance of therapeutic support. Section four looks at developing a more protective financial services environment and ways to enable people to limit their own access to credit, improve control of their day-to-day spending, and insulate themselves from potentially damaging or risky products and marketing they may not be able to resist when unwell. Section five looks at what can be done to make retailing strategies and environments, such as online retail, subscriptions and services on premium telephone numbers to be less risky in periods of mental health. The paper draws on the findings two surveys, including a survey completed by 257 people with experience of higher spending during a period of poor mental health, and focus groups. The paper then provides a series of questions for consultation aimed at those with expertise in financial services, retail and mental health. The consultation runs until 10 October 2016. (Edited publisher abstract)
- Subject terms:
- mental health problems, debt, personal finance, mental health services, policy, prevention, intervention;
- Content type:
- consultation document
- Location(s):
- United Kingdom
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