Cost of Living Crisis: Surviving the Challenging Times | by Bethany Livermore

Published on October 25, 2022

Recently, it has felt like we are all stuck in a stream of mounting pressure. With the cost of living on the rise, many of us will be worried about the immediate future. It goes without saying that this is going to have an impact on your mental health, as financial well-being and mental health are strongly connected. It is so important to be realistic about what is ahead of you, and the ways you may have to adjust. 

After months of lockdowns, uncertainty, and the stress of the pandemic, the UK’s collective mental health wasn’t in a great state. Then the cost of living crisis came in to make things even harder. Unfortunately, this has already sharply impacted people’s mental health and well-being. The increasing price of energy bills, housing prices, and everyday expenses like food and petrol has already left 4 in 10 people worried about their finances and 51% feeling less control over their mental health. The ideal solution to this is to fix the cost of living crisis, but while we wait for this to be sorted, the best approach is to recognise the impact of stress and how to better manage it. 

The UK is due to hit a recession at the end of the year but, how can you survive this period?

A recession is a prolonged period of economic decline during which trade and industrial activity are reduced. The prospect of a recession can be daunting, however, in reality, it is a natural part of the economic cycle. There are some tips which can help you during this challenging time:

  • Create a financial plan now 
  • Build an emergency fund 
  • Identify support systems/network

How to protect your mental health during these challenging circumstances?

  • Practical Steps -  Switching off from the news about the financial crisis, managing monthly spending efficiently, or cutting out the things you can live without. 
  • Reframe your negative thoughts - Life is too short, so try and stop worrying about what hasn’t happened yet or what the future holds because you cannot predict it or control it. Try to remain focused on the present and be more mindful of your surroundings which will take a load off your mind when it comes to worrying. 
  • Mindful breathing - This is a simple concept, it is about taking some time to breathe and paying attention to what is happening in the present moment. Breathing exercises can help manage anxiety and stress. Below are some free apps and websites to help you!
  • Connect with others: Speaking to someone about how you are feeling can help strong feelings of loneliness and improve your well-being.

Although none of these will solve the cost of living crisis, they can create a supportive space for you and allow any problems to be discussed before they reach boiling point.

Where to receive help online?

Some ideas for those days you need a boost, that won’t cost too much money:

  • Climb to the top of Greenwich Park for stunning views of the city skyline
  • Go deer spotting in the beautiful Richmond Park
  • Find some of the best views from the heights of the Sky Garden or The Garden at 120
  • Chill out in the Barbican Conservatory 

Just remember that looking after your mental health always remains the most important thing ever. Multiverse are here to talk and support you in any way!

Bethany Livermore is a Digital Marketing Apprentice at Mindshare and is writing for the Apprentice Lens.
'I want to inspire others, lead the Multiverse Community, and create engaging and relevant content to lead you to success as you embark on your apprenticeship journey! I aim to write articles and blogs that equip you with the essentials to ace your apprenticeship programme. I’d like to take this opportunity to share my tips based on my own experiences.'

 

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