Financially Distressed Consumers: Their Financial Practices, Financial Well-being, and Health

This study examined relationships among the financial practices, financial well-being, and health of a sample of 3,121 financially distressed consumers who were new clients participating in the debt management program of a large national non-profit credit counseling organization. Respondents who rep...

Full description

Saved in:
Bibliographic Details
Published in:Financial counseling and planning 2005-01, Vol.16 (1), p.73
Main Authors: O'Neill, Barbara, Sorhaindo, Benoit, Xiao, Jing Jian, Garman, E Thomas
Format: Article
Language:English
Subjects:
Compound interest
Consumers
Cost control
Debt (Financial)
Debt management
Economic Status
Expenditures
Family Problems
Family Relationship
Financial counseling
Financial planning
Financial Problems
Health Behavior
Health care expenditures
Health care policy
Health insurance
Households
Illnesses
Injuries
Medical debt
Medical Services
Middle class
Nonprofit organizations
Obesity
Overweight
Personal bankruptcy
Personal finance
Personal health
Smoking
Studies
Teachers
Weight control
Well being
Online Access:Get full text
Tags: Add Tag
No Tags, Be the first to tag this record!
Description
Summary:This study examined relationships among the financial practices, financial well-being, and health of a sample of 3,121 financially distressed consumers who were new clients participating in the debt management program of a large national non-profit credit counseling organization. Respondents who reported having improved health since participating in credit counseling were more likely than others to engage in positive financial behaviors. For six out of ten financial behaviors, respondents who reported improved health were more likely to report that their finances improved. Implications are provided for financial counselors and educators. [PUBLICATION ABSTRACT]
ISSN:1052-3073