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Financial Stress Among Latino Adults in California During COVID-19

Author

Listed:
  • Luisa Blanco

    (Pepperdine University)

  • Vanessa Cruz

    (Pepperdine University)

  • Deja Frederick

    (Pepperdine University)

  • Susie Herrera

    (Pepperdine University)

Abstract

We study the impact of COVID-19 on stress, and especially on financial stress, among Latino adults in California. We take a mixed methods approach and rely on quantitative and qualitative data for our analysis. We recruited 84 low- and moderate-income (LMI) Latino adults in California through the Understanding America Study (UAS) Internet Panel who also participated in the Mobile Financial Diary (MFD) project, which took place during 2018 − 2019. We analyze data about personal experiences during COVID-19 in October 2020 and compare this to data collected during the period from August to October 2018. Our study portrays the experiences of California Latino adults who were predominantly born in the USA and are likely to be working and speak English. We also observe that a large percentage of our participants had health insurance and relatively high levels of educational attainment. We find contradictory results from our quantitative measures, where one of our indicators of financial behavior and well-being showed a significant increase (Financial Health Score), and the other (Financial Well-Being Scale) showed a significant decrease during COVID-19. Anxiety (GAD-7) and depression (PHQ) measures show no significant changes during COVID-19 in comparison to 2018. Nonetheless, our qualitative data analysis shows that many of our participants were experiencing major stressors during the pandemic associated with labor market experiences and family circumstances. In our qualitative data analysis, we also observe that women seemed to have been affected the most by the pandemic.

Suggested Citation

  • Luisa Blanco & Vanessa Cruz & Deja Frederick & Susie Herrera, 2022. "Financial Stress Among Latino Adults in California During COVID-19," Journal of Economics, Race, and Policy, Springer, vol. 5(2), pages 134-148, June.
    • Handle: RePEc:spr:joerap:v:5:y:2022:i:2:d:10.1007_s41996-021-00087-0
    DOI: 10.1007/s41996-021-00087-0
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    References listed on IDEAS

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    1. Gema Zamarro & María J. Prados, 2021. "Gender differences in couples’ division of childcare, work and mental health during COVID-19," Review of Economics of the Household, Springer, vol. 19(1), pages 11-40, March.
    2. Donnelly, Rachel & Farina, Mateo P., 2021. "How do state policies shape experiences of household income shocks and mental health during the COVID-19 pandemic?," Social Science & Medicine, Elsevier, vol. 269(C).
    3. Edward D. Vargas & Gabriel R. Sanchez, 2020. "COVID-19 Is Having a Devastating Impact on the Economic Well-being of Latino Families," Journal of Economics, Race, and Policy, Springer, vol. 3(4), pages 262-269, December.
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    Cited by:

    1. Paulina Lin & Kathryn Hillstrom & Kimberly Gottesman & Yuane Jia & Tony Kuo & Brenda Robles, 2023. "Financial and Other Life Stressors, Psychological Distress, and Food and Beverage Consumption among Students Attending a Large California State University during the COVID-19 Pandemic," IJERPH, MDPI, vol. 20(4), pages 1-18, February.

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