Financial Distress and Psychological Well-Being During the COVID-19 Pandemic.

ABSTRACT: Objective: We examine the impact of financial distress caused by the COVID-19 pandemic on mental health and psychological well-being. Methods: We analyze cross-sectional survey data (n = 2,545) from the Life during Pandemic study in Chile. We estimate linear probability models to analyze the relationship between economic fragility, financial distress, and psychological well-being. Results: Our findings show unemployment and income loss are highly predictive of experiencing a range of financial problems, such as a lack of savings, as well as difficulties paying bills, consumer debt, and mortgage loans. In turn, financial distress leads to a higher prevalence of poor well-being and mental health deterioration, and sleep problems. Conclusion: Expansion of me

SUBMITTER: Borrescio-Higa F 

PROVIDER: S-EPMC9453756 | biostudies-literature | 2022

REPOSITORIES: biostudies-literature