IDEAS home Printed from https://ideas.repec.org/a/sae/socpsy/v59y2013i3p239-246.html
   My bibliography  Save this article

Financial satisfaction and its relationship to depressive symptoms in middle-aged and older adults: Results from the FIN-D2D survey

Author

Listed:
  • Nina Rautio
  • Hannu Kautiainen
  • Hannu Koponen
  • Pekka Mäntyselkä
  • Markku Timonen
  • Leo Niskanen
  • Timo Saaristo
  • Heikki Oksa
  • Markku Peltonen
  • Hannu Puolijoki
  • Mauno Vanhala
  • Sirkka Keinänen-Kiukaanniemi

Abstract

Background: Studies using traditional measures of socio-economic position, such as education, income and occupation, have found inequalities in depressive symptoms, but less is known about the association between financial satisfaction and depressive symptoms. Aims: To examine the association of depressive symptoms with financial satisfaction in Finnish adults in a population-based cross-sectional FIN-D2D survey. Methods: Four thousand, five hundred randomly selected individuals aged 45–74 years were invited to the study. Participation rate for health examinations was 64%. Complete information on depressive symptoms and financial satisfaction was available for 2,819 individuals. Financial satisfaction was asked using a questionnaire. Depressive symptoms were measured by Beck Depression Inventory (≥ 10) and/or use of antidepressants. Results: Altogether 11.6% of individuals who were satisfied with their financial situation had depressive symptoms. Corresponding figures for individuals who were somewhat satisfied or dissatisfied were 20.6% and 42.6%, respectively. Individuals who were less satisfied with their financial situation were more likely to suffer from depressive symptoms even after adjusting for gender, age, marital status, number of chronic diseases, smoking, binge drinking, physical activity, education and household income. Conclusions: Instead of more traditional measures of socio-economic position, financial dissatisfaction seems to be associated with depressive symptoms in Finnish adults.

Suggested Citation

  • Nina Rautio & Hannu Kautiainen & Hannu Koponen & Pekka Mäntyselkä & Markku Timonen & Leo Niskanen & Timo Saaristo & Heikki Oksa & Markku Peltonen & Hannu Puolijoki & Mauno Vanhala & Sirkka Keinänen, 2013. "Financial satisfaction and its relationship to depressive symptoms in middle-aged and older adults: Results from the FIN-D2D survey," International Journal of Social Psychiatry, , vol. 59(3), pages 239-246, May.
    • Handle: RePEc:sae:socpsy:v:59:y:2013:i:3:p:239-246
    DOI: 10.1177/0020764011433635
    as

    Download full text from publisher

    File URL: https://journals.sagepub.com/doi/10.1177/0020764011433635
    Download Restriction: no
    File URL: https://libkey.io/10.1177/0020764011433635?utm_source=ideas
    LibKey link: if access is restricted and if your library uses this service, LibKey will redirect you to where you can use your library subscription to access this item
    ---><---

    References listed on IDEAS

    as
    1. Bridges, Sarah & Disney, Richard, 2010. "Debt and depression," Journal of Health Economics, Elsevier, vol. 29(3), pages 388-403, May.
    2. Ada Ferrer-i-Carbonell & Bernard Van Praag, 2003. "Income Satisfaction Inequality and its Causes," The Journal of Economic Inequality, Springer;Society for the Study of Economic Inequality, vol. 1(2), pages 107-127, August.
    3. Butterworth, Peter & Rodgers, Bryan & Windsor, Tim D., 2009. "Financial hardship, socio-economic position and depression: Results from the PATH Through Life Survey," Social Science & Medicine, Elsevier, vol. 69(2), pages 229-237, July.
    4. Lahelma, Eero & Laaksonen, Mikko & Martikainen, Pekka & Rahkonen, Ossi & Sarlio-Lähteenkorva, Sirpa, 2006. "Multiple measures of socioeconomic circumstances and common mental disorders," Social Science & Medicine, Elsevier, vol. 63(5), pages 1383-1399, September.
    5. Szanton, Sarah L. & Thorpe, Roland J. & Whitfield, Keith, 2010. "Life-course financial strain and health in African-Americans," Social Science & Medicine, Elsevier, vol. 71(2), pages 259-265, July.
    6. Hay, David Ian, 1988. "Socioeconomic status and health status: A study of males in the Canada health survey," Social Science & Medicine, Elsevier, vol. 27(12), pages 1317-1325, January.
    7. Macintyre, Sally, 1997. "The black report and beyond what are the issues?," Social Science & Medicine, Elsevier, vol. 44(6), pages 723-745, March.
    8. Geraldine Olson & Brigitte Schober, 1993. "The satisfied poor," Social Indicators Research: An International and Interdisciplinary Journal for Quality-of-Life Measurement, Springer, vol. 28(2), pages 173-193, February.
    9. repec:dau:papers:123456789/10510 is not listed on IDEAS
    10. Chang-ming Hsieh, 2004. "Income and Financial Satisfaction among Older Adults in the United States," Social Indicators Research: An International and Interdisciplinary Journal for Quality-of-Life Measurement, Springer, vol. 66(3), pages 249-266, May.
    Full references (including those not matched with items on IDEAS)

    Most related items

    These are the items that most often cite the same works as this one and are cited by the same works as this one.
    1. Shinae Choi & Melissa J. Wilmarth, 2019. "The Moderating Role of Depressive Symptoms Between Financial Assets and Bequests Expectation," Journal of Family and Economic Issues, Springer, vol. 40(3), pages 498-510, September.
    2. Zachary Zimmer & Heidi Hanson & Ken Smith, 2016. "Childhood socioeconomic status, adult socioeconomic status, and old-age health trajectories," Demographic Research, Max Planck Institute for Demographic Research, Rostock, Germany, vol. 34(10), pages 285-320.
    3. Susan Harkness, 2016. "The Effect of Employment on the Mental Health of Lone Mothers in the UK Before and After New Labour’s Welfare Reforms," Social Indicators Research: An International and Interdisciplinary Journal for Quality-of-Life Measurement, Springer, vol. 128(2), pages 763-791, September.
    4. Mervin, Merehau Cindy & Frijters, Paul, 2014. "Is shared misery double misery?," Social Science & Medicine, Elsevier, vol. 107(C), pages 68-77.
    5. M. Joseph Sirgy, 2018. "The Psychology of Material Well-Being," Applied Research in Quality of Life, Springer;International Society for Quality-of-Life Studies, vol. 13(2), pages 273-301, June.
    6. 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.
    7. Veenstra, Gerry & Vanzella-Yang, Adam, 2022. "Interactions between parental and personal socioeconomic resources and self-rated health: Adjudicating between the resource substitution and resource multiplication theories," Social Science & Medicine, Elsevier, vol. 292(C).
    8. Hanna Dudek & Joanna Landmesser, 2012. "Income satisfaction and relative deprivation," Statistics in Transition new series, Główny Urząd Statystyczny (Polska), vol. 13(2), pages 321-334, June.
    9. Soo Tan & Siok Tambyah & Ah Kau, 2006. "The Influence of Value Orientations and Demographics on Quality-of-Life Perceptions: Evidence from a National Survey of Singaporeans," Social Indicators Research: An International and Interdisciplinary Journal for Quality-of-Life Measurement, Springer, vol. 78(1), pages 33-59, August.
    10. Sarah Brown & Pulak Ghosh & Bhuvanesh Pareek & Karl Taylor, 2017. "Financial Hardship and Saving Behaviour: Bayesian Analysis of British Panel Data," Working Papers 2017011, The University of Sheffield, Department of Economics.
    11. Jinhee Kim & Swarn Chatterjee, 2019. "Student Loans, Health, and Life Satisfaction of US Households: Evidence from a Panel Study," Journal of Family and Economic Issues, Springer, vol. 40(1), pages 36-50, March.
    12. Garthwaite, Kayleigh & Bambra, Clare, 2017. "“How the other half live”: Lay perspectives on health inequalities in an age of austerity," Social Science & Medicine, Elsevier, vol. 187(C), pages 268-275.
    13. Kirsi Talala & Taina Huurre & Hillevi Aro & Tuija Martelin & Ritva Prättälä, 2008. "Socio-demographic Differences in Self-reported Psychological Distress Among 25- to 64-Year-Old Finns," Social Indicators Research: An International and Interdisciplinary Journal for Quality-of-Life Measurement, Springer, vol. 86(2), pages 323-335, April.
    14. Chen, Fuzhong & Hsu, Chien-Lung & Lin, Arthur J. & Li, Haifeng, 2020. "Holding risky financial assets and subjective wellbeing: Empirical evidence from China," The North American Journal of Economics and Finance, Elsevier, vol. 54(C).
    15. Sargent-Cox, Kerry & Butterworth, Peter & Anstey, Kaarin J., 2011. "The global financial crisis and psychological health in a sample of Australian older adults: A longitudinal study," Social Science & Medicine, Elsevier, vol. 73(7), pages 1105-1112.
    16. Felice N Jacka & Nicolas Cherbuin & Kaarin J Anstey & Peter Butterworth, 2014. "Dietary Patterns and Depressive Symptoms over Time: Examining the Relationships with Socioeconomic Position, Health Behaviours and Cardiovascular Risk," PLOS ONE, Public Library of Science, vol. 9(1), pages 1-9, January.
    17. Deanna L. Williamson & Janet E. Fast, 1998. "Poverty Status, Health Behaviours, and Health: Implications for Social Assistance and Health Care Policy," Canadian Public Policy, University of Toronto Press, vol. 24(1), pages 1-25, March.
    18. Yanhong Gong & Xiulan Zhang & Hong Zou & Donghua Tian & Zhiyong Qu & Weijun Zhang & Yongqiang Chu, 2014. "Debt and depression among the Dibao population in northwestern China," International Journal of Social Psychiatry, , vol. 60(7), pages 637-645, November.
    19. Jae Min Lee & Jonghee Lee & Kyoung Tae Kim, 2020. "Consumer Financial Well-Being: Knowledge is Not Enough," Journal of Family and Economic Issues, Springer, vol. 41(2), pages 218-228, June.
    20. Mukhopadhyay, Sankar, 2022. "The Effects of Medicaid Expansion on Job Loss Induced Mental Distress during the COVID-19 Pandemic in the US," IZA Discussion Papers 15150, Institute of Labor Economics (IZA).

    Corrections

    All material on this site has been provided by the respective publishers and authors. You can help correct errors and omissions. When requesting a correction, please mention this item's handle: RePEc:sae:socpsy:v:59:y:2013:i:3:p:239-246. See general information about how to correct material in RePEc.

    If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.

    If CitEc recognized a bibliographic reference but did not link an item in RePEc to it, you can help with this form .

    If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your RePEc Author Service profile, as there may be some citations waiting for confirmation.

    For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: SAGE Publications (email available below). General contact details of provider: .

    Please note that corrections may take a couple of weeks to filter through the various RePEc services.

    IDEAS is a RePEc service. RePEc uses bibliographic data supplied by the respective publishers.