Definitions
- Accumulation of financial stress, as an inverse perspective of financial well-being (@mahdzan2019)
- The negative response due to insufficient resources to deal with a real or perceived threat to one’s standard of living/finances (@rosso2024)
- A unique indicator of socioeconomic position that captures financial trouble (@assari2019)
Theoretical frameworks
- Fundamental cause theory:
- @assari2019: socioeconomic position is an upstream determinant of health, and financial distress is an important subjective indicator
How it’s measured
- @assari2019 used two items:
- ‘How difficult is it for you/your family to meet the monthly payments on your bills?’
- ‘How much do you worry that your total (family) income will not be enough to mee your expenses and bills?’
- @muggleton2021 checked if units are:
- ‘Using an unplanned overdraft’
- ‘Missing a credit card payment’
- ‘Taking a payday loan’
- ‘Missing a loan repayment’
- ‘Missing a mortgage repayment’
Determinants
Gender
- @assari2019: female gender was associated with increased financial distress (OR=1.37)
Age
- @assari2019: age in years was inversely related to financial distress (OR=0.98)
Education
- @assari2019: having >12y of education led to considerable decreased in financial stress (OR=0.59)
Physical health
-oneill2005: health affected by money problems was related to increased financial distress (β=0.36), controlling for age, gender, employment, household size and marital status
Employment status
- @assari2019: being unemployed or not in the job market (vs. employed) was related with increased financial distress (OR=1.83)
Income
- @assari2019: household income was inversely related with financial distress (OR=0.86)
Social network
- @drummo2022: in patients with cancer, social network support lead to decreased financial distress (β=0.99), controlling for age, savings and household income
Depressive symptoms
- @assari2019: 12-month major depressive episode was related with financial distress (OR=1.66), being moderated by ethnicity (OR=1.84)
Gambling behavior
- @muggleton2021 showed the % of economies spend gambled in the previous month predicts the following financial distress measures after:
- Usage of unplanned overdraft (b=0.09)
- Missed credit card payment (b=0.10)
- Took a payday loan (b=0.06)
- Missed loan payment (b=0.08)
- Missed mortgage payment (b=0.12)
Outcomes
Depressive symptoms
- @assari2019: financial distress also predicted 12-month depressive episode (OR=1.65), being moderated by ethnicity (OR=1.85)