Cognitive behavioral therapist discusses how to overcome anxiety from money & Covid-19

Today we’re going to be talking about money and mental health.

2020 was a year no one expected. Many people have been affected negatively by COVID-19. But it’s not only your bank balance that may be suffering — your mental health may also be impacted.

In this episode, we’ll discuss the relationship between mental health and money, and share some positive money mindset tips with the help of a cognitive behavioral therapist.

Introduction

Hello and welcome back to our channel and podcast!

My name is Gemma, and here at WIS, we talk about all things relating to money, mortgages, and positive money mindset.

If that interests you, make sure to subscribe and hit the thumbs up — it really helps with our YouTube algorithm so you won’t miss out on any of our videos.

On today’s podcast of Let’s Talk Money & Mortgages, we have Natalie with us.

Natalie is a trained, BABCP-accredited Cognitive Behavioral Therapist and Clinical Director.

She has been working in the industry for over 13 years.

Q&A with Natalie

Q1: Have more people experienced mental health problems due to COVID?

Natalie:

Definitely. Referrals within both the NHS and private practice have increased.

This is not surprising — our lifestyles completely changed because of COVID.

Everyone has been affected in some way, on different levels.

There’s a difference between mental health stress/problems and mental illness, but lifestyle changes affect how we think, feel, and behave.

Q2: Do people find it hard to talk about mental health problems?

Natalie:

Yes, confiding in family or friends is already a huge step.

Speaking to a therapist — a complete stranger — about personal experiences can feel very challenging.

But once people make that first step, it often feels like a huge relief and a weight lifted.

Q3: How can someone find the courage to get help?

Natalie:

It’s important that the person feels ready to engage in help.

Family and friends may see someone struggling, but if the person isn’t ready, it’s tough.

The best thing loved ones can do is:

• Provide a safe, open space without judgment.
• Understand if the person just wants to be heard or if they are looking for practical advice.

Q4: Should family and friends always give advice?

Natalie:

Not necessarily. Sometimes people just need to offload.

Constantly giving advice without helping them implement it can impact their self-esteem and motivation.

Listening can often be more valuable than advising.

Q5: What relationship does money have with mental health struggles?

Natalie:

Money issues come up a lot in therapy sessions.

A common behavior is avoidance — e.g., not opening bills or letters.

Avoidance provides temporary relief but ultimately builds anxiety, worry, and stress.

Q6: What can people do to face money problems?

Natalie:

In therapy, I sometimes ask clients to bring unopened bills to sessions.

We go through them together, starting with the less scary ones.

Even if debts are higher than expected, clients often feel relieved just knowing the full picture.

I recommend StepChange, a free debt charity, which helps people create tailored repayment plans.

Q7: Where else can people get help?

Natalie:

The first step should be contacting your GP.

Despite COVID restrictions, mental health services are still active and free.

Most areas also offer self-referrals through the IAPT service (Improving Access to Psychological Therapies).

Q8: What tips do you have for those afraid to get help?

Natalie:

Try time tasks instead of goal tasks.

Example: Instead of saying, “I’ll sort all my bills on Monday”, say “I’ll spend 20 minutes on bills”.

This reduces overwhelm and helps build progress in small steps.

Q9: Can people do anything else to regain control of their finances?

Natalie:

Yes, I recommend using a 7-step problem-solving method:

1. Define the problem.
2. List possible solutions (realistic or not).
3. Weigh up pros and cons.
4. Pick one solution.
5. Plan when and how to do it, and who can help.
6. Implement the solution.
7. Evaluate the outcome — did it work, or do you need to try another?

Closing

Thank you, Natalie, for joining us today and sharing your insights.

We’ll leave:

• The 7 problem-solving steps in the comments.
• Links to StepChange and other support services.
• Contact details for Natalie’s clinical practice, The Health Lounge (currently offering sessions via video or phone).

We’ll be back next week with another episode of Let’s Talk Money & Mortgages.

Have a great day and stay safe!