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Psychological factors associated with financial hardship and mental health: a systematic review

Psychological factors associated with financial hardship and mental health: a systematic review
Psychological factors associated with financial hardship and mental health: a systematic review
A review of the literature investigating the role of psychological factors in the relationship between financial hardship and mental health was completed. The review sought to identify which factors have been most consistently and reliably indicated, and the mechanisms by which these factors are proposed to contribute to the association between hardship and mental health. Although the review identified that a broad variety of factors have been investigated, skills related to personal agency and coping were most frequently and reliably associated with the relationship between financial hardship and mental health outcomes. Just over half of the studies reviewed concluded that the psychological factor investigated was either eroded by financial hardship, increasing vulnerability to mental health difficulties, or protected mental health by remaining intact despite the effects of financial hardship. The remaining studies found no such effect or did not analyse their data in a manner in which a mechanism of action could be identified. The methodological quality of the research included in the review was variable. The valid and reliable measurement of financial hardship, and conclusions regarding causation due to the use of predominantly cross-sectional design were areas of particular weakness.
0272-7358
1-24
Frankham, Charlotte
8a7cd76e-0902-461c-98c9-299427b03350
Richardson, Thomas
f8d84122-b061-4322-a594-5ef2eb5cad0d
Maguire, Nicholas
ebc88e0a-3c1e-4b3a-88ac-e1dad740011b
Frankham, Charlotte
8a7cd76e-0902-461c-98c9-299427b03350
Richardson, Thomas
f8d84122-b061-4322-a594-5ef2eb5cad0d
Maguire, Nicholas
ebc88e0a-3c1e-4b3a-88ac-e1dad740011b

Frankham, Charlotte, Richardson, Thomas and Maguire, Nicholas (2020) Psychological factors associated with financial hardship and mental health: a systematic review. Clinical Psychology Review, 77, 1-24, [101832]. (doi:10.1016/j.cpr.2020.101832).

Record type: Article

Abstract

A review of the literature investigating the role of psychological factors in the relationship between financial hardship and mental health was completed. The review sought to identify which factors have been most consistently and reliably indicated, and the mechanisms by which these factors are proposed to contribute to the association between hardship and mental health. Although the review identified that a broad variety of factors have been investigated, skills related to personal agency and coping were most frequently and reliably associated with the relationship between financial hardship and mental health outcomes. Just over half of the studies reviewed concluded that the psychological factor investigated was either eroded by financial hardship, increasing vulnerability to mental health difficulties, or protected mental health by remaining intact despite the effects of financial hardship. The remaining studies found no such effect or did not analyse their data in a manner in which a mechanism of action could be identified. The methodological quality of the research included in the review was variable. The valid and reliable measurement of financial hardship, and conclusions regarding causation due to the use of predominantly cross-sectional design were areas of particular weakness.

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Accepted/In Press date: 17 January 2020
e-pub ahead of print date: 11 February 2020
Published date: April 2020

Identifiers

Local EPrints ID: 439285
URI: http://eprints.soton.ac.uk/id/eprint/439285
ISSN: 0272-7358
PURE UUID: f3c38952-cee1-41ec-9570-8750fa6db3ee
ORCID for Nicholas Maguire: ORCID iD orcid.org/0000-0003-4295-8068

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Date deposited: 07 Apr 2020 16:36
Last modified: 08 Apr 2020 00:27

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Contributors

Author: Charlotte Frankham

University divisions

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