Lifeline for Bipolar and Financial Stability

by Bipolar UK in United Kingdom

Lifeline for Bipolar and Financial Stability

Total raised £500

£5,000 target 36 days left
10% 1 supporters

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Keep what you raise – this project will receive all pledges made by 11th December 2024 at 12:39pm

Empowering individuals affected by bipolar and facing financial struggles to stay well through specialist support services.

by Bipolar UK in United Kingdom

 donated match funding
Aviva Community Fund is providing live match funding

Project Overview 

Help us make double the impact in supporting our work to provide crucial financial and mental health support through the festive period - a time of heightened stress for many people affected by bipolar. Through seasonal webinars, resources, and referrals to our partners PayPlan for money and debt-management advice, this project aims to support financial resilience as a key component of staying well through the holidays.

As a thank you for your support, we will invite you to join our session, ‘Understanding the Link Between Bipolar and Finances’ where you'll gain insights into the unique challenges surrounding bipolar and financial health.

Thank you for helping us make a difference.


Background

Bipolar is a severe mental health condition affecting 1 in 50 people, characterised by extreme mood and energy swings far beyond typical experiences. While it can be managed with medication, self-management strategies, and specialist support, 56% of those affected remain undiagnosed, facing a 9.5-year delay in diagnosis, leaving up to half a million people without the treatment they need.

This puts them at risk of losing jobs, relationships, homes, and even lives. It is estimated that 1 in 5 people with the condition will take their own life.

Living with bipolar can have devastating financial consequences, as impulsive spending is a key symptom of mania, and many struggle to stay in work or manage their finances, leading to unmanageable debt.

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Bipolar UK, the only national charity dedicated to supporting those affected, helps 100,000 people each year through peer support, online resources, and partnerships like PayPlan to provide practical financial support, aiming to break the cycle of financial stress and worsening symptoms.

The Bipolar Minds Matter (2022) and Bipolar in the Workplace (2024) reports reveal the significant financial impact of bipolar:

Impact on Individuals:

  • £10,000 average debt due to delayed diagnosis
  • 39% experienced episodes triggered by money worries
  • Incomes are typically £10k-£20k, below the UK average of £29,900
  • Even with higher education, individuals face over £100k in lost earnings

Impact on Families:

  • 40% of families report reduced earning potential
  • Job loss and promotion barriers affect family stability
  • Family members lose 11 sick days annually

Impact on Society:

  • Bipolar costs the UK £20 billion annually due to employment instability
  • Mental health issues among youth rose from 24% (2000) to 34% (2021-22)

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Help Fund Our Financial Wellbeing Project

Bipolar UK is seeking funding for project activities that address the critical link between financial stress and mental health for individuals living with bipolar. Financial instability, often exacerbated by symptoms such as impulsive spending, can significantly impact those with the condition. Our project will provide essential resources to help individuals manage both their finances and mental health through the following initiatives:

Seasonal Online Tools and Support for Financial Wellbeing

In December, we will host a Christmas Webinar for the bipolar community, focusing on holiday-related stresses, including money management during a time of heightened financial pressure. We will also launch a Seasonal Self-care thread on our eCommunity platform (available 24/7, 365 days a year), featuring practical self-care tips and advice on financial wellbeing from our community members. Additionally, a seasonal peer support group session will be held to help individuals cope with social, emotional, and financial pressures during the holiday period.

Collaboration with PayPlan

In partnership with PayPlan, we will refer individuals for specialist debt-management support. PayPlan advisors, trained by Bipolar UK, understand the unique financial challenges faced by people with bipolar. We will also organise a live Q&A session with PayPlan around Black Friday, providing tips on managing spending and finances during the festive season.

Impact of Funding

Funding will enable us to provide additional support throughout the festive period, helping individuals navigate the increased financial difficulties of Christmas and other stressors, ensuring they remain as well as possible. Our recent services evaluation revealed significant reductions in suicidal thoughts (36%), self-harm (39%), and hospitalisations (43%) among those we support.

This project will enhance financial resilience by raising awareness of the link between finances and bipolar, benefiting both individuals and the financial industry. It will direct people to specialist bipolar support services and tailored money and debt-management resources through our partner, PayPlan. The project will also allow us to reach out with information specific to the financial needs of people affected by bipolar and provide pathways to further resources and training.

We ask for your support in raising awareness of the crucial link between financial wellbeing and bipolar, providing a vital lifeline to those in need.

Rewards

This project offers rewards in return for your donation. Please select a reward below.

£100 or more

0 of 10 claimed

£100 Reward

Digital bipolar workplace information pack with resources and links to support your team.

£250 or more

£250 Reward

£100 voucher towards any of Bipolar UK's specialist workplace training sessions.

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