Brits fear for their health as credit crunch bites

Three in every four people fear the credit crunch will damage their wellbeing and not just their wallets, according to a survey of 10 of the UK's biggest cities, by health and care company Bupa.

Of those people worried by the financial downturn and the effects upon health, around nine out of ten expect it to cause increased worry and stress, while around four in every five are concerned about a rise in stress-related illnesses, like depression.

Job worries and financial concerns lie at the heart of people's credit crunch fears. More than half of respondents say they are worrying about their finances, while over a third fears for their jobs as the credit crunch bites. Of those people worried about job security, over two in every five say their levels of stress have increased at work since the financial crisis began and almost one in four claims they are working longer hours to ward off the risk of losing their job.

Looking across the nation, Bristol and Birmingham represent the job insecurity hotspots, where fears about employment are five percentage points higher than the national average. In Newcastle, more than two in every five respondents are feeling increasingly stressed because of the credit crunch, while London has one of the highest proportions of people working longer hours due to concerns about job security. Manchester tops the table for money worries, where some 61 percent of respondents saying they are concerned for their personal finances, nine percentage points higher than the nation as a whole.

As credit crunch fears escalate, the impact on the health of the nation could be wide ranging. According to Bupa's survey, of those concerned about the effects upon the health of the credit crunch almost eight out of 10 expect more sleepless nights, more than half anticipate a less frequent sex life due to worry and stress and 60 percent say they will exercise less. This is potentially because of longer working hours.

Increased sickness absence from work can also be anticipated. Stress is already the number one cause of long-term sickness absence in the UK for non-manual workers, according to the Chartered Institute of Personnel and Development, a situation which is likely to intensify as over a third of respondents say their stress levels are increasing because of the credit crunch.

Dr Paula Franklin, deputy medical director for Bupa UK Health Insurance, said: "The credit crunch is just as much about a person's health as it is their wealth. As the country's financial health coughs and splutters, the reality is that so do we - our survey shows that more than a third of people are already feeling their stress levels increase.

"It is imperative to spot the warning signs early - so if you are experiencing frequent sleepless nights, loss of appetite, reduced interest in sex, or you feel you are turning to alcohol to forget your concerns, your worrying about the credit crunch could be becoming a serious health issue. Small steps such as confiding in friends and family, reducing your alcohol intake, eating a balanced diet and exercising regularly, can make a lot of difference. Your GP will also be able to help, plus Bupa has a free health fact sheet on how to stop worrying and cope with stress. Just visit bupa.co.uk/health for your copy."