The Daily Telegraph | Middle Class Mental Health | Smart TMS

Does being middle class increase likelihood of mental health conditions?

The Daily Telegraph recently reported on Smart TMS’ all new research project, “Class, Money and Mental Health”. Journalist Adam Williams reports;

“Financial worries and ‘status anxiety’ are leaving middle and higher earners overstretched and unable to talk about it.”

Financial pressure

The article recognises the pressure put on people on the breadline, but goes further to explore those on middle incomes. Although the financial pressures are different, the ability to impact on mental health is very much the same. As reported by the Telegraph, in theory, increased earnings should mean fewer money worries. However, this isn’t always the case.

Smart TMS’ exclusive research into class, money and how it impacts on mental health revealed that around 15% of people of the middle class had an increased pressure on their mental health. Social pressure also plays a part, as people were reportedly made to feel like they should spend beyond their means. For example, the middle class are more likely to have taken out large mortgages and credit/financing agreements, paid school fees and taken on other debts which quickly build up.

Addressing the problem

Even with outgoings and debts ever increasing, mental health and money struggles are often still taboo in the UK. Although it’s not clear why the stigma around discussing money and mental health still exists, it’s clear that it impacts many people.

As a part of our exclusive research, we asked self employed people and company directors whether they are comfortable stepping away from work. As a result, 22% said that they feel unable to step away to deal with mental health or personal financial matters.

Other reasons people feel unable to talk about how their financial situation impacts their mental health include:

  • Not knowing who to ask
  • Being ashamed of the spiraling situation
  • Not wishing to worry family or friends
  • Hoping the problem will just go away
  • The belief that money matters are private

The impact

The Daily Telegraph spoke to Nick, a 29 year old financial professional living in London. He described how he had suffered with money related mental health issues, like depression and anxiety, for many years. He believes that many “middle and high earners” like him become trapped in a “money cycle” because they stretch themselves financially. Subsequently, stress, depression and anxiety increases as the lifestyle becomes unsustainable financially.

Nick said;

“It’s the one thing that nobody ever seems to talk about. You’re walking away with a good pay packet at the end of each month ad everyone just presumes life is hunky dory. But I’ve never felt worse in my life”

For many middle-income earners, debt and the desire to keep up with certain trends is crippling. Spending more than they can afford, “status anxiety” is a growing problem.

The solution

Quite simply, there is no easy solution; after all both mental health and money matters are very individual. It may be that if you are struggling financially, your mental health is unlikely to improve until you have made a plan to simplify your situation.

Stepchange, as suggested by the Daily Telegraph, can help with money worries.

Mental health treatment can be sought in a number of ways. At Smart TMS, we recommend speaking to your GP in the first instance, who is likely to offer counselling or talking therapy. If this doesn’t work, you may be offered anti-depressants. However, these aren’t for everyone.

Patients don’t need a doctor’s referral to be treated at Smart TMS. Our friendly, knowledgeable patient advisors can give you all of the information needed to help you make the best decision for you.

Contact us

To learn more about how TMS can treat various mental health conditions, including depression, anxiety, OCD and various addictions, contact the team.

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