TY - JOUR
T1 - Does how we feel about financial strain matter for mental health?
AU - Asebedo, Sarah D.
AU - Wilmarth, Melissa J.
PY - 2017
Y1 - 2017
N2 - This study investigated how stress responses to financial strain are related to mental health (i.e., depression) to answer the question: Does how we feel about financial strain matter? Informed by the ABC-X model of family stress and analyzed with data from the Health and Retirement Study (HRS), results reveal that financial strain is significantly related to increased depression; however, financial stress was found to moderate this relationship. Financially strained respondents without a stress response did not have significantly different depression scores than those who were not experiencing financial strain; however, depression scores increased as the stress response to financial strain increased. Consistent with the ABC-X model, results suggest that financial strain is a neutral event until it is processed and interpreted by an individual, with subjective perceptions a more powerful predictor of mental health than objective financial circumstances. These results emphasize an area of synergy for financial and mental health researchers and professionals.
AB - This study investigated how stress responses to financial strain are related to mental health (i.e., depression) to answer the question: Does how we feel about financial strain matter? Informed by the ABC-X model of family stress and analyzed with data from the Health and Retirement Study (HRS), results reveal that financial strain is significantly related to increased depression; however, financial stress was found to moderate this relationship. Financially strained respondents without a stress response did not have significantly different depression scores than those who were not experiencing financial strain; however, depression scores increased as the stress response to financial strain increased. Consistent with the ABC-X model, results suggest that financial strain is a neutral event until it is processed and interpreted by an individual, with subjective perceptions a more powerful predictor of mental health than objective financial circumstances. These results emphasize an area of synergy for financial and mental health researchers and professionals.
KW - Depression
KW - Financial strain
KW - Financial stress
KW - Financial stressors
KW - Mental health
UR - http://www.scopus.com/inward/record.url?scp=85028513891&partnerID=8YFLogxK
U2 - 10.4148/1944-9771.1130
DO - 10.4148/1944-9771.1130
M3 - Article
AN - SCOPUS:85028513891
SN - 1945-7774
VL - 8
SP - 63
EP - 78
JO - Journal of Financial Therapy
JF - Journal of Financial Therapy
IS - 1
ER -