Role of Self-Compassion in Financial Difficulties and Mental Health
Low socio-economic status increases mental health risks. Research explores self-compassion as a link between financial struggles and mental well-being, offering insights into mediating factors like fears of compassion and self-criticism. Findings suggest approaches like compassion-focused therapy may help mitigate financial stress on mental health over time.
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Self-compassion as a link between financial difficulties and mental health Thomas Richardson, Sam Ashworth, Nick Maguire School of Psychology, University of Southampton
BACKGROUND Those of low socio-economic status have an increased risk of mental health problems (Kivim ki et al., 2020). Recessions lead to an increase in common mental disorders, substance use problems and suicidal behaviour (Frasquilho et al., 2015). Those in debt more than 3 times as likely to have a mental health problem (Richardson et al., 2013).
BACKGROUND Research has shown a role for following in linking money problems to mental health problems: Hopelessness Shame Self-esteem Activity coping Personal agency (Frankham et al., 2020a,b). Lots of research on self-compassion and a range of mental health problems. Nothing on if this links money and mental health.
METHODS Longitudinal survey: 2 time points 3 months apart. General population: Online and student recruitment: n=222. Measures: Economic hardship questionnaire GAD-7 PHQ-9 Perceived Stress Scale Suicidal cognitions inventory Fears of compassion scale Forms of self-criticising and self-reassuring scale
RESULTS: SUMMARY OF MEDIATIONS OVER TIME Self- reassurance Anxiety Self-criticism Fears of compassion for others Objective financial hardship Depression Stress Suicidal cognitions Fears of compassion to self
CONCLUSIONS Fears of compassion to others and self and self- criticism partially mediated link between financial difficulties and mental health and suicidality over time. Approaches such as compassion focused therapy and compassionate mind training may to help mitigate the impact of financial difficulties on mental health.
REFERENCES Frankham, C., Richardson, T. & Maguire, N (2020). Do locus of control, self- esteem, hope and shame mediate the relationship between financial hardship and mental health? Community Mental Health Journal, 56(3), 404- 415. Frankham, C., Richardson, T. & Maguire, N. Psychological Factors associated with Financial Hardship and Mental Health: A Systematic Review. (2020). Clinical Psychology Review, 77, April, 101832. Frasquilho, D., Matos, M. G., Salonna, F., Guerreiro, D., Storti, C. C., Gaspar, T., & C aldas-de-Almeida, J. M. (2015). Mental health outcomes in times of economic recession: a systematic literature review. BMC public health, 16(1), 1-40. Kivim ki, M., Batty, G. D., Pentti, J., Shipley, M. J., Sipil , P. N., Nyberg, S. T., Suominen, S. B., Oksanen, T., Stenholm, S., & Virtanen, M. (2020). Association between socioeconomic status and the development of mental and physical health conditions in adulthood: a multi-cohort study. The Lancet Public Health, 5(3), e140-e149 Richardson, T., Elliott, P.A. & Roberts, R. (2013). The Relationship between Debt and Mental and Physical Health: A Systematic Review and Meta-Analysis. Clinical Psychology Review, 33, 1148-1162.
