Studies suggest that an individual's financial situation is one factor that influences their mental health, although such studies tend to rely on objective markers of financial situation (e.g., debt levels) or general outlook (e.g., stress levels).  Using longitudinal survey data from 1,263 Australian adults, we examined the relationship between financial well-being and mental health as well as the moderating role of social support. We found that people with lower levels of financial well-being (i.e., higher current money management stress and lower expected future financial security) tended to have worse mental health. Perceived social support buffered this relationship for expected future financial security but not for current money management stress. Our findings suggest that efforts to improve mental health should consider the individual’s sense of financial well-being and explore opportunities to build social support.

Accepted Oral Presentation