Peer-supported economic empowerment: A financial wellness intervention framework for people with psychiatric disabilities.

Jiménez-Solomon, Oscar; Méndez-Bustos, Pablo; Swarbrick, Margaret; Díaz, Samantha; Silva, Sissy; Kelley, Maura; Duke, Steve R.; Lewis‐Fernández, Roberto

doi:10.1037/prj0000210

Cited by 25 publications

(19 citation statements)

References 79 publications

(124 reference statements)

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“…Moreover, compared to baseline, participants were more likely to be employed, saving money, and avoiding debt six-months after the intervention (Elbogen et al , 2013). An alternative model reported in the literature is a peer-provider economic empowerment program (Jiménez-Solomon et al , 2016). This model includes the identification of financial goals, the development of a financial wellness action plan and coaching to foster financial skills and engage with support services.…”

Section: Discussionmentioning

confidence: 99%

Financial concerns and symptom distress among psychiatric outpatients

Kealy

Spidel

Sandhu

et al. 2018

JPMH

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Purpose While epidemiological studies have linked economic hardship and financial difficulties with psychological distress and suicide, investigation of financial concerns among users of public mental health services has been limited. Moreover, empirical data regarding a relationship between financial difficulties and mental health symptoms are lacking. The purpose of this paper is to examine the prevalence of financial difficulties among patients attending community mental health clinics, and to examine the relationship between such difficulties and psychological distress and suicidality. Design/methodology/approach Participants attending three community mental health clinics in British Columbia, Canada provided demographic information, including annual income, and completed brief measures of personal financial management, psychological distress and suicidal behavior. Findings Although more than half of participants reported good-to-excellent ability to pay their bills on time, nearly half indicated poor long-range saving and financial planning. Lower annual income was directly related to suicidality. Financial management difficulties were associated with psychological distress, and were significantly related to suicidality after controlling for the effects of income and psychological distress. Originality/value The findings highlight the need for attention to distress and suicidality as potential sequelae of financial management difficulties, and carry implications for further research, clinical intervention and social policy. The findings confirm the need to address financial needs and money management abilities among users of public mental health services.

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Section: Discussionmentioning

confidence: 99%

Financial concerns and symptom distress among psychiatric outpatients

Kealy

Spidel

Sandhu

et al. 2018

JPMH

View full text Add to dashboard Cite

show abstract

“…Additionally, several studies have examined links between health and financial literacy [26], as well as financial stress and mental and physical health outcomes. However, the majority of these studies lie outside of public health journals, and definitions or measurements of 'financial health' [27][28][29], 'financial well-being' [25,30,31], 'financial well-ness' [32], or 'financial fitness' [33] are inconsistent across studies. This poses challenges, such that the domains where most of the financial health studies are located (i.e.…”

Section: Financial Health In the Literaturementioning

confidence: 99%

Financial health as a measurable social determinant of health

et al. 2020

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ObjectivesFinancial health, understood as one's ability to manage expenses, prepare for and recover from financial shocks, have minimal debt, and ability to build wealth, underlies all facets of daily living such as securing food and paying for housing, yet there is inconsistency in measurement and definition of this critical concept. Most social determinants research and interventions focus on siloed solutions (housing, food, utilities) rather than on a root solution such as financial health. In light of the paucity of public health research on financial health, particularly among low-income populations, this study seeks to: 1) introduce the construct of financial health into the domain of public health as a useful root term that underlies other individual measures of economic hardship and 2) demonstrate through outcomes on financial, physical and mental health among low-income caregivers of young children that the construct of financial health belongs in the canon of social determinants of health. Materials and methodsIn order to extract features of financial health relevant to overall well-being, principal components analysis were used to assess survey data on banking and personal finances among caregivers of young children who participate in public assistance. Then, a series of logistic regressions were utilized to examine the relationship between components of financial health, depression and self-rated health. ResultsComponents aligned with other measures of financial health in the literature, and there were strong associations between financial health and health outcomes. Practice implicationsFinancial health can be conceived of and measured as a key social determinant of health.

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“…As long as it may mean caution before entering into risky obligations, it may act as a specific protective factor. Nevertheless, extending the duration of the indebtedness and remaining alone with unsolved problems can cause growing financial and health problems, both somatic and mental [39,40,41,42,43].…”

Section: Discussionmentioning

confidence: 99%