Debt, Shame, and Silence: Mental Health Crisis Among Men Revealed in Survey

Half of men hide financial behaviors as shame reshapes emotional well-being and relationships, according to a study by Beyond Finance.

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The secrecy, shame and isolation associated with financial distress is fueling a silent mental health crisis among men, a new national survey has revealed.

The troubling trend was reported by Beyond Finance, which said its survey is one of the first of its kind. June is Men’s Mental Health Month, a time to fight stigma and foster more honest conversations around the emotional burdens men carry, Beyond Finance said in a news release.

Men’s Financial Stress and Mental Health Are Linked

There is a strong link between financial strain and emotional well-being, the survey of 2,000 U.S. men found. Among respondents, only 27% rated their mental health as “excellent,” and only 15% said rated their financial health that way. More than a quarter rated their finances as “poor” or “not very good,”  while 10% assigned those low ratings to their mental health. The correlation between financial hardship and emotional distress indicates that money isn’t just a numbers issue; it’s a mental health issue for many men, according to Beyond Finance.

Among survey participants 57% said they are carrying debt, with the most common types being credit card debt (62%), mortgages (34%), and auto loans (30%). Men reported feelings of frustration (38%), anxiety (29%), being overwhelmed (28%), and embarrassment (19%) because of their financial difficulties. However, 22% said they don’t feel comfortable asking for financial advice.

“This survey confirms what we’ve long known — men are suffering in silence when it comes to money,” Lou Antonelli, chief operating officer of Beyond Finance, said in the news release. “Financial anxiety is isolating, and many men don’t feel safe opening up. At Beyond Finance, we’re encouraging men to stop gambling with their well-being and start building both financial and emotional resilience. That’s why we support men every day through weekly sessions with certified financial therapists who help them navigate not just debt, but the emotional weight behind it.”

Other key findings include:

  • Financial infidelity is common and often driven by shame
  • Half of men admitted to keeping financial secrets from a spouse or partner. Among those in committed relationships, the most common money secrets included:
    • A savings account (14%)
    • Spending habits (13%)
    • A credit card or line of credit (12%)
    • Cash reserves (12%)
    • An amount of debt (10%)
    • Investment(s) (9%)

The top reasons for hiding these behaviors were:

  • Having different views and values when it comes to finance (31%)
  • Feeling embarrassed (28%)
  • Feeling ashamed (26%)

The Mental Health Cost of Online Sports Betting

The mental health situation for men has been worsened by the rise of online sports betting.  The survey revealed that 19% of men have placed a sports bet online in the past year. And of those, 74% have placed an online sports bet in the last week, while 23% said they’ve gambled online in the last 24 hours.

Among respondents who have bet on sports 40% expect to win a large amount of money, although only 16% said their financial situation improved because of it. Among those in relationships, 13% revealed that they have kept their sports betting activities a secret from their partner, while 33% withhold from their partner how much they win or lose.

A Call for Empathy and Action

When seeking help, 41% of men are comfortable confiding in their partners, but only 25% would ask for financial advice from their partner. More than 20% prefer to go it alone rather than seek advice. And 19% would confide in friends while 16% would seek their financial advice. Almost 40% of survey participants said their financial situation makes them feel disconnected from friends, and 37% avoid friendships that would make them feel financially insecure.

“Beyond Finance’s research findings point to a broader cultural issue: Men are emotionally overwhelmed by money, yet afraid to seek help,” Nathan Astle, a Certified Financial Therapist at Beyond Finance, said in the release. “Shame, secrecy and silence are driving real harm, not only to personal finances, but to relationships, careers, and mental health.”

Astle offered tips to help change this:

  • First, Talk to someone. A friend, a partner, or a professional. Bottling it up doesn’t help—but opening up does.
  • Next, Make a budget or plan that works for you. Studies show that having a clear plan for your finances can significantly reduce stress and anxiety. It’s not about restriction—it’s about control.
  • Third, Set small goals. Even saving a few dollars can boost your confidence and motivation.
  • Finally, Remember: you’re not your paycheck. Money struggles do not define you. You are not your paycheck. You are not your debt.

“This isn’t about being perfect,” added Astle, who shared his advice to men in a recent video. “It’s about giving men permission to be honest about where they’re at and then helping them build a healthier, more hopeful path forward.”

The survey was commissioned by Beyond Finance and conducted by Talker Research, a third-party research company, from May 20  to May 27.

For more information on Beyond Finance’s go here.

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