Clare Francis, director of savings and investments at Barclays, is leading an initiative to bridge the gap between financial health and mental well-being in the United Kingdom. Her work, which includes her role as a trustee of the Money and Mental Health Policy Institute, has taken on new urgency as the nation grapples with a growing mental health crisis, compounded by economic uncertainty.

The Personal Drive Behind the Work

Francis’s passion for this cause stems from a deeply personal tragedy. In 2011, she lost her husband to suicide. This event has shaped her professional focus, leading her to advocate for better financial systems that support mental health, particularly for those struggling with debt or financial instability.

“The connection between money and mental health is profound,” Francis said in a recent interview with MoneyWeek Talks. “When people are stressed about finances, it can exacerbate mental health conditions. We need to build systems that help people feel more in control of their financial future.”

Financial Resilience as a Public Health Issue

According to the Money and Mental Health Policy Institute, nearly 40% of people with mental health issues in the UK face financial problems, with 20% in debt. These numbers underscore the intersection of mental health and economic stability, a topic that has gained traction in policy circles and financial institutions alike.

Francis argues that financial resilience is not just about saving for retirement or investing in the stock market. It is about building a safety net that can withstand unexpected shocks, such as job loss, medical expenses, or sudden life changes. “We need to help people create a financial buffer so that they are not constantly living on the edge,” she said.

Encouraging Investment Among the Public

Francis also emphasizes the importance of investing, particularly for younger generations. She points out that with the UK’s low interest rates and the rising cost of living, many people are hesitant to put their money into the stock market. However, she believes that long-term investing is essential for building wealth and securing financial stability.

“Investing is not just for the wealthy,” Francis said. “It’s about understanding how to grow your money over time. Even small contributions can compound into significant savings, especially with the right strategy.”

In her role at Barclays, Francis has worked to make investing more accessible to the general public, including through digital platforms and educational resources. The bank has launched several initiatives aimed at helping customers understand the basics of investing and how to build a diversified portfolio.

According to a 2023 report by the UK’s Financial Conduct Authority, only 16% of adults in the UK have invested in stocks or shares, compared to 45% in the United States. This disparity highlights the need for greater financial education and confidence among British investors.

Policy and Public Awareness

Francis’s work extends beyond the corporate sector. As a trustee of the Money and Mental Health Policy Institute, she is involved in shaping policies that protect vulnerable individuals from financial exploitation and help them manage debt.

The charity has called for greater collaboration between mental health professionals and financial advisors to create integrated support systems. “We need to break down the stigma around mental health and financial difficulties,” said Francis. “People should not feel ashamed to seek help for either.”

Her efforts have also led to public awareness campaigns aimed at reducing the stigma surrounding mental health and financial distress. These initiatives include partnerships with local organizations and national charities to provide resources and support to those in need.

Francis’s message is clear: financial health and mental well-being are deeply intertwined. “If we can help people feel more secure financially, we can help them feel more secure mentally,” she said. “That’s the goal.”

As the UK continues to face economic challenges, including inflation and uncertainty in the job market, the need for financial resilience has never been more pressing. Experts suggest that a complete approach—combining mental health support with financial education—is essential to addressing the growing crisis.

The Money and Mental Health Policy Institute is set to release a new report in early 2025 that will outline specific policy recommendations for improving financial and mental health outcomes. The report is expected to include case studies from across the UK and recommendations for both public and private sectors.