The rising costs of living are driving elevated levels of mental distress across the nation and may be driving up the risk of suicide, especially in already financially disadvantaged communities say mental health experts. 

Christopher Stone, Policy and Government Relations Manager from Suicide Prevention Australia, has told a Senate Committee, "We've seen that distress remains high, with now 74 percent of people recording elevated levels of distress compared to how they felt at the same time last year".  

"The cost of living and personal debt remains the No. 1 issue behind these elevated levels of distress in the community". 

Speaking at a public hearing on the Select Committee on the Cost of Living, he said he was "deeply concerned" with the number of Australian families and households struggling with the rising costs of living. 

"Suicide Prevention Australia and the sector we represent are deeply concerned about the potential impacts of the increased cost of living on suicide. We're at a critical juncture for suicide prevention, with both the Victorian and the New South Wales suicide registers respectively showing a nine percent and five percent increase in suicides in 2022," Mr. Stone said. 

PHOTO: Christopher Stone. Image: Supplied. 

"The evidence shows that people who have experienced severe financial strain may have a 20-fold higher risk of suicide. Unfortunately, suicide rates are between two and eight times greater in disadvantaged areas," he added. 

Beyond Blue told the Committee in its submission that "Between 2021-2022, financial stress was the third most common reason for people contacting the Beyond Blue Support Service phoneline."  

Beyond Blue's Clinical Lead, Dr. Grant Blashki, told the Western Plains App, "As a GP, when I see people with financial troubles, they are sometimes not forthcoming about it and often come in with general symptoms such as poor sleep, anxiety, depression or drinking too much alcohol, as we discuss their situation it emerges that they are experiencing financial distress." 

"There is a strong stigma when it comes to money woes," Dr Blashki said. 

"People can feel shame and fear about financial problems and become overly worried about the perception they can't handle money. There is often a strong sense of self-blame or that they have failed, and our society has a strong undercurrent about being self-reliant and successful with financial matters". 

Meanwhile speaking at the public hearing held in Warwick, Queensland said that the high rate of suicide and disadvantaged of Aboriginal and Torres Strait Islander peoples suggests there is a potential link between suicide and deprivation whilst also suggesting that his organization had identified 21 different determinants of suicide. He said housing insecurity was one of the clear factors. 

His colleague Anne Leslie, Policy Advisor with Suicide Prevention Australia explained further to the Senate the link between housing insecurity and mental health, noting that people were suffering because in her view housing had become less about providing a basic need of shelter and more about investment opportunities. 

Image: NSW Government. 

"Regional and rural areas of houses are turning into Airbnb or holiday lets, so people can't afford housing. The costs are just really increasing, and people can't afford it. As a peer worker, this person with lived experience is saying it's really, really distressing for him because he can't help these people". 

"They don't have the money to afford these rentals, which are just through the roof. There needs to be a lot more support in these regional and remote areas, and also support for the peer workers who are working with these people because they are feeling really burnt out, and there's a lot of despair out there" she told the Committee. 

Suicide Prevention Australia has produced a number of detailed reports looking at the links between social inequality, social injustice and suicide. In its submission to this inquiry it specifically called on the Government to better regulate buy-now-pay-later schemes and insecure work and make a significant increase to Australia's income support system. 

Where there is help there is hope 

Beyond Blue's Dr. Blashki told the Western Plains App that financial challenges are so stressful that sometimes someone "struggling to keep their head afloat may be more inclined to avoid dealing with a problem, ignoring bills and payments, and make poor choices when it comes to money as they don't have the mental bandwidth to deal with the issue". 

"The earlier people get support, the sooner they will be able to get on top of the problem and get back on track," but he said the bind with that is "Existing support can be complex, time-limited, expensive and can take time to access. Beyond Blue advocates for access to appropriate and timely mental health support regardless of people's financial situation". 

PHOTO: Dr. Grant Blashki. Image Supplied. 

When asked what the best approach is when facing financial distress, he said, "Be extra kind to yourself and keep in mind that many Australians are feeling the pinch of cost of living, and your financial situation may well be nothing to do with your decision-making." 

"Take the first step and put your hand out for help. Maybe you have a friend or family member who is experienced with money, and sit down with them to take stock of your financial situation". 

He said that the National Debt Hotline might be a good place to start and also said, "Beyond Blue currently works with Financial Counselling Australia to encourage people to access information and support to improve their overall well-being, and I would encourage anyone to reach out to Beyond Blue on 1300 22 46 36 to chat to a counselor about any worries they have. Free services, such as New Access and New Access to Small Business, are also available".