Financial Stress and Subjective Wellbeing among Children -Evidence from Finland
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lindberg2021 - p. 799
This article focuses on one aspect of this nexus, namely how financial stress – defined as worries about one’s economic situation – is related to two dimensions of subjective wellbeing among children, that is, affective wellbeing (AWB) as well as cognitive wellbeing (CWB)
lindberg2021 - p. 802
Financial stress has been defined as subjective experiences of financial concerns and worries about money, as well as a weakening of the financial situation and difficulty to respond to family obligations (Hilton and Devall 1997; see also Crous 2017).
lindberg2021 - p. 802
According to a Nordic study, children face higher risks of ill health and low wellbeing in families where parents are unemployed (Pedersen and Madsen 2002).
lindberg2021 - p. 803
We used the data from the international survey of children’s lives and wellbeing conducted by the Children’s Worlds project (CWP) during the years 2013–2014 (see Ben-Arieh et al. 2017). The CWP is a cross-sectional survey on the wellbeing of school-aged children, and it is based on a sample of 5400 8—12 year-old children from 18 countries around the world. The purpose of this survey is to understand children’s own sense of wellbeing as well as the factors related to it.
lindberg2021 - p. 804
The affective component of subjective wellbeing (AWB) was measured by using Russell’s Core Affect (short version) (Russell 1980), which is a six-item measure relating to affective subjective wellbeing. Children were asked to report how often they had felt satisfied, happy, relaxed, active, calm and full of energy during the last two weeks.
lindberg2021 - p. 804
The cognitive component of subjective wellbeing (CWB) was assessed by using Ryff’s (1989) scale for psychological wellbeing. This scale contains the statements “I like being the way I am (Self-acceptance); I am good at managing my daily responsibilities (Environmental mastery); People are generally pretty friendly towards me (Positive relations with others); I have enough choice about how I spend my time (Autonomy); I feel that I’m learning a lot at the moment (Personal growth); and I feel positive about my future (Purpose in life)”.
lindberg2021 - p. 805
The main independent variable was financial stress, which relates to whether or not children were worried about money. The measurement of worrying about money was assessed with the question: How often do you worry about how much money your family has? The responses were dichotomized to not worrying (never) and worrying (sometimes, often, always).1
lindberg2021 - p. 806
logistic regression