Men, Money and Mental Health: The Silent Struggle

Have you ever felt your sense of self-worth rise and fall with your bank balance? You're not alone. Many men link their value to their financial status, quietly shouldering immense pressure to provide - often at the cost of their mental health and feeling isolated by expectations that they should have it all together.

Why Money Hits Men’s Mental Health Hard

From an early age, men are taught that financial success is a marker of their value. The idea of being the ‘provider’ is deeply ingrained in society, and when finances become unstable - whether its the result of job loss, debt, or rising living costs - so does a man’s sense of security and self-esteem.

Financial struggles can trigger anxiety, shame, and lead to depression. Studies show that men experiencing financial difficulties are at a significantly higher risk of mental health challenges. Furthermore, a report from the Mental Health Foundation found that 73% of men have felt overwhelmed or unable to cope due to financial pressures at some point in their lives.

Money pressures don't just affect your personal life - they ripple into your professional world too. Anxiety about money can lower your confidence; cloud your judgment and undermine your relationships at work. Here on LinkedIn, we often highlight career achievements, making it easy to feel isolated when finances aren’t matching our professional image. This dissonance intensifies stress and can trap men in a cycle of pretending everything is fine, even when it’s not

Photo by Tim Gouw on Unsplash

The Link Between Financial Stress and Suicidality

Research from the Money and Mental Health Policy Institute, consistently shows a strong correlation between financial distress and suicidal ideation and highlights that people with problem debt are three times more likely to contemplate suicide. Last year, the Samaritans released a report highlighting that economic hardship is a key factor in male suicide rates, with men in the lowest income bracket being ten times more likely to die by suicide than those in the highest bracket. Financial stress creates a sense of entrapment, where men may feel powerless and unable to see a way forward. The stigma around asking for help only compounds this issue, reinforcing isolation and despair.

Impulsivity Spending and Mental Health 

Financial distress can also lead to impulsive spending, often as a coping mechanism to temporarily relieve stress. Mind UK notes that mental health struggles can contribute to poor financial decisions, such as gambling, excessive shopping, or accumulating debt to maintain an illusion of stability. This cycle can deepen financial difficulties, increasing stress and perpetuating feelings of failure and self-blame. Addressing underlying emotional triggers is crucial in breaking this cycle and beginning to develop healthier financial habits. It’s why Mettle recently launched a 7 Day Beat Financial Stress Challenge to support men in shifting their mindset and taking control of their finances as part of their App - a Toolkit for Men’s Minds.

Breaking the Cycle: What Helps?

Sometimes, it helps to see other men speak openly about their struggles. Sky Sports Presenter Simon Thomas and former Special Forces soldier, adventurer and TV personality Jason Fox have openly shared their personal battles with mental health and financial stress. Their honesty breaks down stigmas, paving the way for others to recognise that vulnerability isn’t weakness - it’s leadership. As professionals, here’s how we can follow their example and normalise these crucial conversations.

1. Challenge the Shame: Financial difficulties are common, and struggling with money doesn’t make you a failure. The first step is recognising that self-worth isn’t tied to your bank balance.

2. Talk About It: Whether with a trusted friend, partner, or support group, opening up about financial stress can reduce the burden and help you start to find solutions.

3. Seek Professional Support: Organisations like StepChange, The National Debt Line and Samaritans offer financial and emotional support for those struggling with debt and mental health concerns.

4. Take Small Steps: It’s easy to get overwhelmed, so focus on small, manageable actions - creating a basic budget; reaching out for financial advice; or setting realistic goals.

5. Prioritise Mental Wellbeing: Money stress doesn’t just affect your finances - it affects your body and mind. Practices like mindfulness, exercise, and connecting with others can help regulate stress and prevent financial anxiety from taking over.

Redefining Success

 Success isn’t just financial -  it’s about living in alignment with your values and finding meaning in your life. While money is an important factor, your worth as a man isn’t measured by your income - it’s measured by who you are, how you show up, and the connections you build.

If financial stress is weighing you down, remember: 

• You're not alone

• It's okay to talk about it

• Support is available

Have you faced financial stress in your professional journey? Share your experiences below - your story could support others. Let's start this important conversation. Comment below and support each other.👇