concept

financial hardship

Also known as: financial hardship, economic hardship

Facts (10)

Sources

Financial Decision-Making: Psychology, Behavior & Risk Insights climbproject.org.uk CLIMB Project Aug 11, 2025 2 facts

claimUnique personal experiences, such as past financial hardship or stability, shape attitudes toward risk and decision-making, often leading to distinct behavioral patterns.

claimIndividuals who have faced financial hardship may develop a conservative approach to finance, prioritizing savings over investments, whereas those with a background of financial stability may exhibit a greater willingness to engage in high-risk investments.

The Relationship Between Parenting Style, Child Behaviour and ... gavinpublishers.com Tommy Kwan Hin Fong, Heidi Ka Ying Lo, Calvin Pak Wing Cheng, Hoi Sin Tong, Wai Yan Vivian Lui, Phyllis Kwok Ling Chan · Gavin Publishers 1 fact

claimSome research indicates that children from families with lower economic status demonstrate more behavioral problems than children from families with higher economic status, as economic hardship may limit family resources, experience, and support.

Bankruptcy vs. Debt Consolidation: Which Is Better for You? - Experian experian.com Ben Luthi · Experian Feb 13, 2025 1 fact

claimExperian suggests considering bankruptcy if an individual's credit score is fair or poor (generally a FICO® Score below 670), if they have pursued other debt relief options without success, if they are experiencing financial hardship, or if they are facing foreclosure or repossession.

The Impact of Financial Stress on Mental Health and Immunity immunizenevada.org Immunize Nevada Sep 30, 2024 1 fact

claimLong-term economic hardship increases the risk of mental health disorders and chronic illnesses such as heart disease.

Ethnobotanical study of wild edible plants in Goba District Southwest ... nature.com Nature Jul 29, 2025 1 fact

claimIn rural Ethiopia, a large proportion of the population relies on wild edible plants for sustenance during seasonal food shortages and economic hardship.

Where Does Debt Fit in the Stress Process Model? - PubMed - NIH pubmed.ncbi.nlm.nih.gov PubMed 1 fact

referencePeter Butterworth, Bryan Rodgers, and Tim D. Windsor authored the 2009 article 'Financial Hardship, Socio-Economic Position and Depression: Results from the PATH through Life Survey', published in Social Science & Medicine 69(2): 229–237.

The Importance of Insurance Protection in Financial Planning merceradvisors.com Mercer Advisors Mar 5, 2025 1 fact

measurementMore than one-third (38%) of Americans would face financial hardship within six months of the unexpected death of a wage earner.

Stress and its Connection to Mental Health Disorders real.spcrd.org Review of Education, Administration and Law Nov 30, 2024 1 fact

referenceSujan, M. S. H., Tasnim, R., Islam, M. S., Ferdous, M. Z., Haghighathoseini, A., Koly, K. N., & Pardhan, S. (2022) authored 'Financial hardship and mental health conditions in people with underlying health conditions during the COVID-19 pandemic in Bangladesh', published in Heliyon, 8(9), which studies the impact of financial hardship on mental health during the COVID-19 pandemic.

The impact of childhood trauma on children's wellbeing and adult ... ouci.dntb.gov.ua Cheyenne Downey, Aoife Crummy · Elsevier BV 1 fact

claimSarah K. Tracy, Alyssa Allen, Chaz Ruiz, and Brian Schurter (2025) assert that single-parent households and financial hardship often result in limited access to essential resources, such as technology and nutritious food, which negatively impacts both academic performance and overall well-being.