Financial threat

Definitions

• The appraisal of a real or perceived danger to one’s standard of living/finances (@marjanovic2013, @rosso2024)
• A mixture of fear, uncertainty, and cognitive preoccupation about the security and stability of their personal finance (@debruijn2020, @viseu2021)

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Theoretical frameworks

• Cognitive-transactional stress theory:
  • @viseu2021: explain the reactive role in which the coping action begins only after emersion of stressors
• Proactive Coping Theory:
  • @viseu2021: emphasize its proactive nature, in which individuals accumulate resources over time to help coping

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Outcomes

General mental health

• @marjanovic2013: increased financial threat lead to increased psychological distress
  • β=-0.32, after controlling for economic hardships, financial well-being and income
  • β=-0.18, after controlling for worry and rumination and self-efficacy
• @viseu2021 reported that:
  • Financial threat led to increased psychological stress (β=0.35)
  • This relationship was moderated by age group: <37 years (β=0.42); >=37 years (β=0.32)

Depression

• @marjanovic2013: increased financial threat lead to increased depression
  • β=0.30, after controlling for economic hardships, financial well-being and income
  • β=0.22, after controlling for worry and rumination and self-efficacy
• @viseu2021 found that:
  • Financial threat led to increased depression symptoms (β=0.33)
  • Proactive coping moderated (weakened) this relationship (β=-0.06)

Anxiety

• @marjanovic2013: increased financial threat lead to increased anxiety
  • β=0.30, after controlling for economic hardships, financial well-being and income
  • β=0.24, after controlling for worry and rumination and self-efficacy