Financial stress, Financial stressors, Financial strain, Mental health, Depression
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.
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Asebedo, S. D., & Wilmarth, M. J. (2017). Does How We Feel About Financial Strain Matter for Mental Health?. Journal of Financial Therapy, 8 (1) 5. https://doi.org/10.4148/1944-9771.1130