cost of living crisis is taking a toll on mental health

The cost of living crisis is causing a significant amount of emotional distress in the accounting community. Over a third (34%) of working accountants told us that they are concerned about their future, with a third, respectively, feeling more anxious (33%) and stressed (32%).

More than two-in-five (42%) working accountants and students are already struggling financially. Of those...

Of ICAEW’s members specifically, over a third (34%) are already struggling financially. Again, of those...

A third (32%) of chartered accountants are also worried about their friends and family.

accountants say career progression is being hindered by the cost of living crisis

As well as the heavy emotional toll that the crisis is taking, many within our community are also worrying about the more practical impacts. One-in-five (20%) working accountants say their career progression is suffering as a result of the crisis. Of those...

Over a quarter (27%) of working accountants say there are fewer opportunities available in the workplace because of the crisis, and one in five (19%) are either considering or have already moved to another organisation or industry.

Two in five (40%) working accountants are working from home more often to avoid higher commuting costs, which, in turn, they feel has a knock-on effect on their progression.

As well as career progression, however, there are real concerns about job security. One-in-five (22%) working accountants told us that they’re worried about losing their jobs as a direct result of the cost of living crisis. 16% have either started working or are considering taking up an additional job to keep themselves afloat.