{"id":23324,"date":"2022-06-15T08:00:18","date_gmt":"2022-06-15T12:00:18","guid":{"rendered":"https:\/\/www.afcpe.org\/?p=23324"},"modified":"2022-06-09T18:57:27","modified_gmt":"2022-06-09T22:57:27","slug":"researchwednesday-financial-stress-adults","status":"publish","type":"post","link":"https:\/\/www.afcpe.org\/news-and-publications\/blog\/researchwednesday-financial-stress-adults\/","title":{"rendered":"#ResearchWednesday: Financial stress and depression in adults: A systematic review"},"content":{"rendered":"<p><img fetchpriority=\"high\" decoding=\"async\" class=\"wp-image-16377 size-medium alignleft\" src=\"https:\/\/www.afcpe.org\/wp-content\/uploads\/2021\/06\/AdobeStock_166747221-300x200.jpeg\" alt=\"Group of people in a casual business meeting\" width=\"300\" height=\"200\" srcset=\"https:\/\/www.afcpe.org\/wp-content\/uploads\/2021\/06\/AdobeStock_166747221-300x200.jpeg 300w, https:\/\/www.afcpe.org\/wp-content\/uploads\/2021\/06\/AdobeStock_166747221-1024x683.jpeg 1024w, https:\/\/www.afcpe.org\/wp-content\/uploads\/2021\/06\/AdobeStock_166747221-768x512.jpeg 768w, https:\/\/www.afcpe.org\/wp-content\/uploads\/2021\/06\/AdobeStock_166747221-1536x1025.jpeg 1536w, https:\/\/www.afcpe.org\/wp-content\/uploads\/2021\/06\/AdobeStock_166747221-2048x1366.jpeg 2048w\" sizes=\"(max-width: 300px) 100vw, 300px\" \/><\/p>\n<h2><span style=\"font-weight: 400;\">Can financial counseling be used as a tool to help alleviate financial-related depression symptoms in adults?<\/span><\/h2>\n<p><b>Quick Summary<\/b><\/p>\n<p><span style=\"font-weight: 400;\">The literature examined by the authors considered the relationship between financial stressors and mood disorders\u2013specifically, depression. They found that generally financial stress is positively related to depression symptoms.\u00a0 In addition, three key factors affect the relationship:\u00a0<\/span><\/p>\n<ul>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">Having a lower income leads to more economic uncertainty, unhealthy lifestyles, etc. (social causation)<\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">How the financial stress is viewed by the person-how manageable or unmanageable is the current financial situation (does it cause psychological stress)<\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">Already having a mental health disorder (social selection).<\/span><\/li>\n<\/ul>\n<p><b>Key Insights<\/b><\/p>\n<p><span style=\"font-weight: 400;\">The authors noted the following key findings:<\/span><\/p>\n<ul>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">Lower level of household income is related to a higher risk of depression symptoms<\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">A decrease in household income is related to an increased risk of depression symptoms\u00a0<\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">Small numbers of household assets (cars, furniture, etc.) are related to an increased risk of depression<\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">An increase in household wealth is related to a decrease in risk of depression symptoms<\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">Debt is positively related to depression symptoms but varies based on the type of debt<\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">Current financial hardships matter most in terms of depressive symptoms<\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">Financial strain (current or in childhood) may affect depression symptoms<\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">The correlation between financial stress and depression symptoms is more pronounced in lower-income groups<\/span><\/li>\n<\/ul>\n<p><b>My A-HA Moment<\/b><\/p>\n<p><span style=\"font-weight: 400;\">My client&#8217;s mental health can be affected by their financial health and this is an important consideration, especially for those clients who may come from a lower socioeconomic status. In particular, recognizing that some of my clients dealing with unsecured debt could be affecting their mental health, I will focus on improving their situation through financial counseling, focusing especially on debt management\u2013hoping to foster a positive effect on their mental health.\u00a0<\/span><\/p>\n<p><b>Continuing the Discussion:<\/b><\/p>\n<p><span style=\"font-weight: 400;\">As mental health issues have increasingly been part of the national dialogue, I am interested in learning more about changes to your best practices.\u00a0<\/span><\/p>\n<ul>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">How are you considering a client\u2019s mental well-being in tangent with their financial well-being?<\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">Have you changed your client conversations around financial-wellbeing and mental health?<\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">Could financial counseling community outreach in lower socio-economic areas decrease depression symptoms?<\/span><\/li>\n<\/ul>\n<p><em><span style=\"font-weight: 400;\">Written by: Jennifer Witkowski, AFC\u00ae Candidate<\/span><\/em><\/p>\n<p><em><span style=\"font-weight: 400;\">Read the <a href=\"https:\/\/journals.plos.org\/plosone\/article?id=10.1371\/journal.pone.0264041\">full research paper here.<\/a><\/span><a href=\"https:\/\/journals.plos.org\/plosone\/article?id=10.1371\/journal.pone.0264041\">\u00a0<\/a><\/em><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Can financial counseling be used as a tool to help alleviate financial-related depression symptoms in adults? Quick Summary The literature examined by the authors considered the relationship between financial stressors and mood disorders\u2013specifically, depression. They found that generally financial stress is positively related to depression symptoms.\u00a0 In addition, three key factors affect the relationship:\u00a0 Having a lower income leads to [&hellip;]<\/p>\n","protected":false},"author":4,"featured_media":18594,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_cbd_carousel_blocks":"[]","_relevanssi_hide_post":"","_relevanssi_hide_content":"","_relevanssi_pin_for_all":"","_relevanssi_pin_keywords":"","_relevanssi_unpin_keywords":"","_relevanssi_related_keywords":"","_relevanssi_related_include_ids":"","_relevanssi_related_exclude_ids":"","_relevanssi_related_no_append":"","_relevanssi_related_not_related":"","_relevanssi_related_posts":"","_relevanssi_noindex_reason":"","footnotes":""},"categories":[16,1],"tags":[121],"class_list":["post-23324","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-researchwednesday","category-uncategorized","tag-researchwednesday"],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v25.9 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ 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