Ahead of Debt Awareness Week, 16 to 22 March, Money Wellness has published research showing that the emotional and personal cost of debt is rising, even as the overall proportion of people affected across all areas of life has fallen slightly.
The findings come from a survey of 5,000 customers. Of those, 81% say money is their biggest source of stress, compared with 72% in 2024. The proportion saying they feel stressed most of the time stands at 87%, and 85% say poor mental health has had a direct impact on their financial situation.
Despite a small drop in the share of people saying debt affects every aspect of their life, from 55% to 50%, certain pressures are clearly worsening. Relationship damage attributed to debt has risen from 23% in 2024 to 35% in 2026, and the share of people experiencing sleep disruption has moved from 24% to 26% over the same timeframe. People describe worrying about payment deadlines, falling behind on minimum repayments, and avoiding unfamiliar phone numbers to reduce the chance of speaking to creditors. For many, financial stress has become a daily presence rather than an occasional concern.
Sebrina McCullough, Director of External Relations at Money Wellness, said: “Financial stress is often discussed as though it’s a steady background pressure. What our latest data shows is that for many people, it’s becoming more intense and more focused. While slightly fewer customers say debt affects every area of their lives, we’re seeing sharper impacts on mental health, relationships, and sleep. That tells us the pressure isn’t disappearing, it’s concentrating.
“We are also seeing a clear cycle develop. Money worries damage mental health, and poor mental health can make it harder to manage bills, respond to creditors, or seek support. Without help, that cycle can escalate quickly.”
The survey points to the value of seeking help. More than two-thirds of customers who received advice from Money Wellness reported feeling that a weight had been lifted. More than half said they felt less anxious, and 43% said their sleep had improved.
“The earlier people seek advice the better, but it’s never too late. No one should feel they have to cope with debt and money worries alone. There is free, confidential support available, and taking that first step can provide immediate relief,” added McCullough.
Money Wellness is encouraging people who are struggling with debt to seek support early, ahead of Debt Awareness Week.