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Best of the Spectator

Women With Balls: Coping with financial worries

Best of the Spectator

The Spectator

News Commentary, News, Daily News, Society & Culture

4.4785 Ratings

🗓️ 16 December 2022

⏱️ 29 minutes

🧾️ Download transcript

Summary

Many are already feeling the pinch of the cost-of-living crisis. Choices between ‘heating and eating’ have become routine for some households, as bills and food costs rise. With money at the forefront of everyone’s minds, feelings of stress, shame, and embarrassment are causing a decline in mental health. Research has shown that the cost-of-living crisis is having a significant impact on people’s mental health, disproportionately affecting women and those from low-income households. Combatting mental health can come from peer support, professional help and public policy, but is the issue ever taken seriously enough? What can be done to address the shame and guilt linked to money worries?
 
For this episode, Katy Balls is joined by Maria Caulfield, who is the Minister for Mental Health where her department also oversees Women’s Health. Catherine Rutter, the Director for Customer Inclusion at Lloyds Banking Group. And Kim Leadbeater, Labour MP for Batley and Spen, who received an MBE for her services to social cohesion and combatting loneliness.
 
This podcast is kindly sponsored by Lloyds Banking Group.

Transcript

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0:00.0

Hello and welcome to a special episode of Women of Balls.

0:07.0

Many are feeling the pinch from the cost of living crisis.

0:11.0

Choices between heating and eating have become routine for some households as bills and food costs rise.

0:17.0

Data shows that the number of people searching ways to reduce stress online has increased by 216% in the past month alone.

0:24.6

And mounting evidence suggests that when it comes to money worries, women are the most likely to be the ones cutting back on spending,

0:31.6

working harder and taking on the mental load for household finances.

0:35.6

The science of poor mental health can vary and are difficult to

0:38.4

spot, but getting help early can be essential to a fast and effective recovery. Are there preventative

0:45.3

measures that can be implemented? At a time and cost cutting can be essential, what are some of the

0:49.7

practical ways we can take care of ourselves? For this episode, I'm joined by a panel of experts on

0:54.9

this topic, Maria Colfield, who is the Minister for Mental Health, where her department also oversees

0:59.8

women's health, Catherine Rutter, who is the director for customer inclusion at Lloyd's Banking Group,

1:05.6

and Kim Ledbeter, Labour MP for Batley and Spen, who received an MBE for her services to social cohesion and

1:12.4

combating loneliness. This podcast is kindly sponsored by Lloyd's Banking Group.

1:17.7

Maria, to begin, I suppose with your ministerial hat on, we know during the COVID crisis,

1:23.8

during the pandemic, mental health problems worsened, along with weight times.

1:28.1

How have you seen the cost of living crisis affect the problem?

1:31.5

Well, I think it's exacerbating, and we are really focused on not just improving services

1:35.2

for people with mental illness, so people who may be bipolar or schizophrenic or have eating

1:39.9

disorders, but actually in the same way, we promote health promotion in physical health we want to make

1:44.4

sure that people are mentally their mental health is well and that we're supporting that and what we're

1:49.2

seeing at the moment is yes mental health struggled during COVID and very quickly we've gone into

...

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