Increasing costs have driven the most vulnerable into even greater despair. According to a YouGov study, in 2022, 62% of people with mental health issues will feel more anxious than they did the year before.

Our research, which was published in a new as well as a recent study, found that the COVID epidemic had disproportionately adverse effects on the mental health of adults who have long-term psychological problems.

Our findings highlight the importance of targeting these services at this group.

The data collected from the 1958 National Child Development Study as well as the British Birth Cohort Study, which spans more than 30 years, was used.

We identified five distinct mental health pathways in each group. These ranged from adolescents to middle-aged respondents. The majority of participants, for example, followed a path with no or few symptoms. Another group of participants had persistent symptoms. A third group experienced mental health issues in their early 30s.

We compared the emotional and financial outcomes of people who had different histories of mental illness in adulthood between March 2020 and March 2021. They were 50 years old (participants from the British Birth Cohort Study 1970) and 62 years old (1958 National Child Development Study).

Read more: Girls’ mental health has been affected more than boys’ during the pandemic – new research.

Our findings

Different mental health paths were associated with distinct risks for poor cognitive outcomes during the pandemic. Participants who experienced poor mental health in adulthood before the COVID-19 pandemic were more likely than those without mental illness to experience psychological distress, loneliness, and a reduction in life satisfaction.

A history of mental problems can double or quadruple the risk of poor mental health in the face of the pandemic.

While those who had experienced psychological problems in the past were at higher risk, those who have suffered from chronic or more recent mental difficulties are more likely to suffer poor mental health when the pandemic strikes.

Read more: We studied how COVID affects mental health and brain disorders up to two years after infection – here’s what we found.

Further, poor mental health doubled the likelihood of experiencing financial hardship during the pandemic. Up to one in five adults with a history of poor mental health reported they were “much worse off” financially a year into the pandemic, compared with one in ten who had never had psychological problems in adulthood.

Adults who haven’t had mental health issues in years are up to 1.5 times more likely than their peers to report worsening financial conditions.

People who experienced psychological distress at various times in their lives prior to the COVID-19 pandemic are more likely than others to borrow money from banks, take a payment holiday from their mortgages, and increase their debt.

Why is mental health and finances linked?

It’s not clear if financial problems cause poor mental health, or if poor mental illness causes financial problems. It’s more than likely both.

It is well known that people with poor mental wellbeing are more likely than others to face financial difficulties. These include poverty, unemployment and underemployment. They may also be dependent on government benefits. This can, in turn, trigger or exacerbate psychological health problems.

It can also increase the risk of mental illness due to social and economic disadvantages.

Our research found that a history of mental illness is linked to financial problems during the pandemic. Monkey Business Images/Shutterstock

Mental health: A long-term perspective

Our research highlights how important it is to examine mental health throughout life. It also helps us better understand the impact that adverse events and economic shocks have on mental health. Our studies reveal that mental health can be a lifelong journey, with peaks and troughs that may have lasting effects.

We were able to use detailed data that we collected over a number of decades to examine the impact of the pandemic in terms of mental health and finances.

As with any observational study, there are some limitations. In all cases, we cannot assume that the results we have observed are directly related to the pandemic. Interviews were also conducted online during the pandemic, and all measures of mental health were self-reported.