Financial health as a measurable social determinant of health

Financial 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 defin...

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Veröffentlicht in:PloS one 2020-05, Vol.15 (5), p.e0233359-e0233359
Hauptverfasser: Weida, Emily Brown, Phojanakong, Pam, Patel, Falguni, Chilton, Mariana
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Patel, Falguni
Chilton, Mariana
description Financial 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. In 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. Components aligned with other measures of financial health in the literature, and there were strong associations between financial health and health outcomes. Financial health can be conceived of and measured as a key social determinant of health.
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subjects Adult
Banks (Finance)
Canon (Literature)
Caregivers
Caregivers - economics
Caregivers - psychology
Children
Credit scoring
Determinants
Earth Sciences
Economic aspects
Economic conditions
Employment
Empowerment
Entrepreneurship
Feature extraction
Female
Finance
Financial management
Financial services
Food
Hardship
Health - classification
Health - economics
Health aspects
Housing
Housing - economics
Humans
Income
Income - statistics & numerical data
Low income groups
Male
Medical research
Medicine and Health Sciences
Mental health
Mental Health - economics
Mental Health - trends
Middle Aged
Peer tutoring
People and Places
Planning
Population studies
Poverty - psychology
Principal components analysis
Public assistance
Public Assistance - economics
Public health
Public health movements
Regression analysis
Savings accounts
Social aspects
Social capital
Social Determinants of Health - classification
Social Determinants of Health - economics
Social Sciences
Studies
Surveys and Questionnaires
Utilities
Well being
title Financial health as a measurable social determinant of health
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