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Financial stress and its physical effects on individuals and communities

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  • Laura Choi

Abstract

Everywhere you look, the symptoms of the current recession are clear: homes lost to foreclosure, job losses across almost every sector of the economy, dwindling retirement portfolios, and frozen credit markets. But the recession has also led to a number of other symptoms that haven?t been getting enough attention: headaches, backaches, ulcers, increased blood pressure, depression and anxiety, just to name a few. Extended periods of stress can take their toll on physical, mental, and emotional health, compounding the difficulties that many low- and moderate-income communities face during troubled economic times. As we think about ways to strengthen health and community development finance at the institutional level, we need to remember the impact that financial instability can have on health outcomes at the individual level.

Suggested Citation

  • Laura Choi, 2009. "Financial stress and its physical effects on individuals and communities," Community Development Innovation Review, Federal Reserve Bank of San Francisco, issue 3, pages 120-122.
  • Handle: RePEc:fip:fedfcr:y:2009:p:120-122:n:v.5no.3
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    Citations

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    Cited by:

    1. Theodos, Brett & Stacy, Christina Plerhoples & Daniels, Rebecca, 2018. "Client led coaching: A random assignment evaluation of the impacts of financial coaching programs," Journal of Economic Behavior & Organization, Elsevier, vol. 155(C), pages 140-158.
    2. Mudrazija, Stipica & Butrica, Barbara A., 2023. "How does debt shape health outcomes for older Americans?," Social Science & Medicine, Elsevier, vol. 329(C).
    3. Kenneth White & Kimberly Watkins & Megan McCoy & Bertranna Muruthi & Jamie Lynn Byram, 2021. "How Financial Socialization Messages Relate to Financial Management, Optimism and Stress: Variations by Race," Journal of Family and Economic Issues, Springer, vol. 42(2), pages 237-250, June.
    4. Soomin Ryu & Lu Fan, 2023. "The Relationship Between Financial Worries and Psychological Distress Among U.S. Adults," Journal of Family and Economic Issues, Springer, vol. 44(1), pages 16-33, March.
    5. Clayton, Maya & Liñares-Zegarra, José & Wilson, John O.S., 2015. "Does debt affect health? Cross country evidence on the debt-health nexus," Social Science & Medicine, Elsevier, vol. 130(C), pages 51-58.

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