Mental health

The introduction of the universal credit benefit is "a terrible move for financial inclusion" for those who struggle to manage their monthly budgets, according to MoneySavingExpert.com founder Martin Lewis, who has told Parliament that ring-fencing should be introduced to protect vulnerable people.

Charities have united in a new campaign from the Money and Mental Health Policy Institute, chaired by MoneySavingExpert.com founder Martin Lewis, to stop NHS doctors charging people with mental health problems up to £150 to fill in a form crucial for them to get debt help.

A consulation to find ways of supporting shoppers who financially overstretch themselves due to mental health conditions has been launched by a charity set up by MoneySavingExpert.com founder Martin Lewis.

A major study by the new Money and Mental Health Policy Institute has found more than 70% of those with mental health problems believe their condition has hit their finances – and almost 60% have taken on additional borrowing as a result.

A major new policy institute dedicated to researching and finding solutions to the devastating link between mental illness and money problems was launched today, funded by a donation of at least £2 million from MoneySavingExpert.com founder Martin Lewis.

"My other half deals with the finances. I don't know anything about it." I've lost count of the times I've heard this.

The Financial Conduct Authority (FCA) has today launched a challenge to the industry to ensure it better protects vulnerable customers after research found that in some cases their treatment can lead to further stress and harm.

Bank staff are adding to the distress of people registering power of attorney by misunderstanding what rights are involved, making administrative blunders or losing important documents, according to the Financial Ombudsman Service.

More financially vulnerable people will be able to avoid the most drastic formal debt solution after the Government announced plans to increase the minimum level of debt that can force people into bankruptcy to £5,000 later this year.