Debt has been identified by many women as a major cause of ill health, research released today has revealed.

A study conducted by the Women’s Health Council (WHC) and Money Advice and Budgeting Service (Mabs) discovered more than 70 per cent of women in Ireland report a link between debt and ill health.

The survey of Mabs clients showed 81 per cent described the negative effects of debt on their mental or emotional health, reporting anxiety, stress and depression.

Furthermore, 40 per cent described physical problems resulting from debt and 27 per cent reported an impact on their family’s health.

WHC director Geraldine Luddy said: "We already know that women in less well-off socio-economic groups are at the greatest disadvantage with regard to health and have been found to be at greater risk of developing poor health."

Figures released by the Samaritans revealed the biggest cause of stress for 51 per cent of people is money.