Impact of COVID-19 on Finances and Mental Health
Author Information
Author(s): Simon Lena, Allan Alexa, Tian Junyan, Buxton Orfeu, Zonderman Alan, Evans Michele, Gamaldo Alyssa
Primary Institution: Institute of Engaged Aging, Snellville, Georgia, United States
Hypothesis
The study investigates the relationship between personal finances during the COVID-19 pandemic and depressive symptoms, and how this relationship varies by sociodemographic characteristics.
Conclusion
The study found that unstable or declining finances during the COVID-19 pandemic were linked to increased depressive symptoms, particularly among White adults.
Supporting Evidence
- The sample included 158 aging adults.
- Participants reported financial changes on a scale from 0 to 2.
- Linear regression models were used to analyze the data.
- Significant associations were found between finances and depressive symptoms.
Takeaway
If people had less money during COVID-19, they felt sadder, especially if they were White.
Methodology
Participants self-reported changes in finances and depressive symptoms were measured using the PHQ-9.
Potential Biases
Potential bias in self-reported financial changes and depressive symptoms.
Limitations
The study's findings may not apply to all racial groups as significant associations were only found among White adults.
Participant Demographics
60% African Americans, 72% Female, ages 46-83.
Statistical Information
P-Value
p = .034
Statistical Significance
p<0.05
Digital Object Identifier (DOI)
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