NHS Trusts are linking financial wellbeing, mental health and suicide prevention with FinWELL Champions…
NHS Trusts are linking financial wellbeing, mental health and suicide prevention with FinWELL Champions…
Elizabeth Silva is the MHFA Instructor and Site Lead for over 30,000 employees at St Barts NHS Trust in London.
We caught up with her to find out why and how they are linking financial education and wellbeing support with mental health and suicide prevention training…
Why do you think it’s so important to offer employees financial education and wellbeing support?
“Financial wellbeing training came about for us at Barts because we were having so many conversations around finances, and we already offered Mental Health First Aid and Suicide First Aid training for our staff but we didn’t have anything that gave us a little bit more information or literacy around financial wellbeing. Many of us were never taught the basics of managing money at school, and with the current cost-of-living challenges, it’s something that’s affecting people every day.
What we know from suicide prevention is that money worries are one of the leading causes of anxiety and depression, and they tend to be present when we look at suicides generally. The ability to have some degree of financial literacy is really important, not just when it comes to looking after people’s mental health, but also as part of suicide prevention.
Organizations that offer this kind of support are much better positioned, they’re truly at the forefront of wellbeing if they’re already offering these types of things. I’m really happy that at Barts we now offer FinWELL Champion®️Training, because it gives staff that extra bit of understanding when it comes to financial wellbeing, how to spot the signs of financial distress, how to signpost effectively, and how to have those conversations that can really make a difference.”
How does this link to mental health training and suicide prevention?
Money and mental health are deeply connected. When people are struggling financially, it can create a huge amount of stress, anxiety, and even feelings of hopelessness. Through my work delivering Mental Health First Aid and Suicide First Aid training, I see just how closely these things are linked. By building financial literacy and awareness into our wellbeing approach, we’re not only helping people to manage money better we’re helping them to protect their mental health and to reach out for support sooner.
The FinWELL Champion®️ element adds that missing piece. It complements our mental health and suicide prevention training by equipping staff with the tools and confidence to understand financial stress as a wellbeing issue, not just a practical one.
What training and support are you offering to employees at St Barts NHS Trust?
We offer a range of training and support at Barts focused on prevention and wellbeing. This includes Mental Health First Aid (MHFA), Suicide First Aid (SFA), and now FinWELL Champion®️ Training. Together, these create a network of trained staff who can offer peer support across the Trust whether someone is struggling emotionally, mentally, or financially.
What I particularly like about the FinWELL programme is that staff not only gain that extra layer of financial literacy through the FinWELL Champion®️ training, but everyone across the Trust also has access to the FinWELL Learning Academy, which is open to anyone who wants to learn more about improving their financial wellbeing. Those who train as champions then have an extended version of this so the learning doesn’t stop with the training.
Alongside this, the Trust has initiatives that give staff more control over their earnings and financial planning. We’re very lucky at Barts that our Trust is always looking at new ways to support staff wellbeing and financial wellbeing has now become a part of that bigger picture.
Contact the FinWELL Team if you’re considering offering financial education and wellbeing support to your teams.
You can also click here to view our specific offer as part of Talk Money Week.