A survey has found that one in three people (33%) feel their current money situation is negatively affecting their mental health.

Similarly, 31% said their finances are having a bad impact on their emotional wellbeing, according to research for HSBC UK. The findings were released during Debt Awareness Week (March 18-24).

Almost one in four (24%) people who have taken out non-mortgage credit said they did so to cover everyday living costs. A fifth (19%) said an unexpected expense was the reason for their most recent loan.

Credit cards were the most common way people borrowed money, followed by personal loans, overdrafts and buy now pay later schemes. Some people also borrowed money from friends or family. Only about half (51%) of borrowers knew the interest rates on their current debts.

One in nine (11%) had put all their debts in one place to make them easier to manage. Six in 10 (60%) people surveyed felt confident they could handle unexpected financial expenses in the next year. Just over half (52%) felt sure they could achieve their financial goals for the next year.

The survey found that getting rid of debt was the number one long-term money goal, with saving for a big buy (not a house), retiring early, paying off the mortgage, and saving for a home following after. Censuswide asked 2,000 UK people in March.

Madhu Kejriwal from HSBC UK said: "If you feel your financial situation is impacting your mental or emotional wellbeing, you're not alone. Reaching out to your bank is a good place to start from free 'always on' webinars to one-to-one financial health checks for customers and non-customers alike we are here to help. And if you have debts from multiple providers, free, impartial advice from organisations like StepChange Debt Charity can also help."

Haydn Williams from NatWest Group said: "Big changes, whether that's physical or mental illness, a death in the family or separation can have significant direct impact on people's financial wellbeing. And often, those life events make it hard to think about or tackle financial problems that can build up. This can then compound the emotional stigma, which makes people feel like they're not doing the right thing, making it all the harder to get back on track.

"The best thing to do if you're struggling with debt is to talk to your lender or a free independent debt advice firm early. All lenders should provide a range of tailored options suitable for your circumstances which may include options to make your payments more affordable, refinancing your debts, deferring repayments for a short period and providing you time and space to seek free independent debt advice."

"The sooner that you contact your lender the more likely you are to feel back in control and on top of your financial situation."

The government-supported MoneyHelper website has tools to help folks manage their money and the website helpforhouseholds. campaign.gov.uk provides helpful information about getting support with living costs.