Money problems: Why it's good to talk

Humans are social creatures and so running away from their financial problems is not going to benefit them, a Chartered Psychologist has noted. Kim Stephenson, creator of Taming the Pound - a resource encouraging people to think about their money matters - said people cannot bury their head in the sand when it comes to debt.

Mr Stephenson advised those with cash flow problems to talk to others about their concerns, be they counsellors, friends or creditors.

He explained: "Fighting on alone is OK for John Wayne, he read the script, there are no prizes for toughing it out in real life."

The body is not designed to cope with relentless stress, meaning people can often become physically ill and develop mental health problems as they struggle to make sense of their situation, Mr Stephenson went on to point out.

His comments came after recent correspondence in the Lancet revealed suicide rates in Europe increased between 2007 and 2009 - when the recession began to bite.