Despite the saying that “money isn’t everything”, financial worries can strongly influence many areas of our lives.

They shape our moods, our outlook, our sense of security, and, critically, our mental wellbeing. The impact can be subtle, creeping in quietly over time, or it can be overwhelming, taking over our thoughts and daily choices.

Many of us have experienced this in our everyday lives. Perhaps it’s deciding to grab a drink with friends instead of dinner because it just doesn’t fit the budget, or the disappointment of postponing a family holiday that was meant to be a highlight of the year.

For some, it’s those late nights spent staring at the ceiling, wondering whether we’ll ever have enough to retire comfortably.

These moments, although they may seem ordinary and are, reveal how deeply financial stress can impact our lives.

And right now, for a significant number of UK savers, that anxiety is very real.

Recent research from the MFS Global Retirement Survey shows that only 27 per cent of people feel confident they’ll be able to retire at the age they hope.

This figure has remained worryingly low for years, signalling a gap between goals and reality.

The survey also highlighted the financial pressures contributing to this uncertainty.

Half of respondents identified inflation’s impact on purchasing power as their top financial concern, while 46 per cent pointed to the rising costs of housing.

In a world where the cost of living continues to climb, it’s little wonder that many people’s focus is on simply making ends meet today, rather than contributing to a retirement fund decades down the line.

This difference in perspective is particularly interesting from an industry perspective. For pension professionals, financial planning often revolves around the future: projecting retirement income, assessing scheme performance, analysing policy changes, or predicting upcoming Autumn Budget announcements.

But for many people, the reality is far more immediate. Their daily concerns are about putting food on the table, paying bills, or taking a short break away.

It’s easy to see statistics about inadequate retirement savings or doubts over the state pension and dismiss them as statistics.

But behind each figure are real people facing real stress. Financial uncertainty doesn’t simply affect our wallets; it affects our minds.

The worry of “will I have enough?” or “what happens if my car or washing machine breaks down?” can manifest as anxiety, sleepless nights, and even depressive symptoms.

Over time, the mental strain can affect every aspect of life, from relationships to overall quality of life.

World Mental Health Day serves as a reminder that our well-being is made up of many aspects, and that financial security is an important part of it.

Acknowledging the link between money and mental health doesn’t mean obsessing over every penny, but it does mean recognising the stress that financial uncertainty can create and taking steps to manage it.

Taking steps such as getting professional advice, planning ahead, or simply talking about these worries can make a real difference.

Money might never be free of stress entirely, but acknowledging its impact on our mental health is the first step towards feeling more secure, both financially and emotionally.

If you or someone you care about is facing challenges with mental health, support and resources are always available. Learn more here.

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