Families’ Financial Stress & Well-Being: The Importance of the Economy and Economic Environments
Thoughts
Connects with: @baker2019 @serido2014
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friedline2021 - p. 35
The literature we reviewed that broadly focused on financial stress and well-being can be grouped into four categories: income, wealth, and debt; economic hardship; financial stress; and coping strategies. We attempted to create a temporal ordering of families’ financial stress by grouping the literature into these categories.
friedline2021 - p. 42
conomic hardship, also referred to as material hardship, refers to families’ inability to meet their needs such as food, clothing, and health care (Mimura 2008; Rios and Zautra 2011). Closely related to poverty, economic hardship is a multidimensional construct and has been assesssed by a host of measures that go beyond traditional poverty measures that are based primarily on income thresholds.
friedline2021 - p. 43
Examples of economic hardship reviewed in the literature include food, housing, health care, education, and bankruptcy, which together reflect families’ difficulty in meeting their needs (Heflin 2016).
friedline2021 - p. 43
Economic hardship inevitably places stress on family relationships (Masarik and Conger 2017; McCubbin et al. 1980), which can make some more vulnerable to abuse and violence (Lucero et al. 2016; Showalter 2016). Lucero, Lim, and Santiago (2016) examined the link between economic hardship and intimate partner violence with a sample of 941 women in committed relationships.
friedline2021 - p. 43
Families experience financial-related psychological stress or distress when they do not have adequate income, wealth, or debt to afford economic hardship (Lai 2011; Park and Kim 2018; Thorne 2010; Sweet et al. 2013).
friedline2021 - p. 44
The current focus of JFEI’s published literature aligns with a neoliberal perspective of financial stress, which locates the responsibility for experiencing financial stress with individuals and families as opposed to the economy and economic environments
friedline2021 - p. 45
Families’ financial stress and well-being are influenced by the economy and associated policy decisions (Baradaran 2017; Mian and Sufi 2014)—the national and increasingly global macroeconomic sites of labor and production, trade, and consumption of goods and services.
friedline2021 - p. 46
Therefore, a critical analysis of capitalism is important for understanding families’ financial stress and well-being, particularly for identifying evidence of discrimination in observed the differences by race, class, and gender (
friedline2021 - p. 47
Therefore, a focus on theories that do not consider the economy and economic environments can obscure the role they have in explaining families’ financial stress and well-being.
Note: Importante para a teorização de um cosntruto mais completo