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105 Financial Hardship, Financial Advice Seeking and Mental Health During COVID -19
Short Description
According to the PULSE survey conducted in October 2021, approximately 12 million experienced severe debt due to stalled economic growth characterized by expiring unemployment benefits and supply chain problems that added to soaring prices of goods (Center On Budget and Policy Priorities, 2021). The impacts of the pandemic have been widespread; however, they particularly remain prevalent among Black people, Latino people, and other people of color. These disproportionate impacts are reflective of long-standing inequities largely stemming from structural racism (Center On Budget and Policy Priorities, 2021). While the link between financial hardship and health has long been recognized (Adler et al., 1994; Adler & Stewart, 2010; Sweet et al., 2013), there is little evidence on the role of financial advice on financial difficulty and mental health during COVID- 19. With the rise in economic burden during COVID- 19, it becomes crucial to understand the financial advice-seeking role. In examining this relationship, this study explores the moderating role of financial advice-seeking between financial difficulty and mental health during COVID-19.
Type of presentation
Accepted Poster Presentation