Perspectives on Finances and Mental Health Among Low-Income Latinas

Department(s)

School of Public Policy

Document Type

Article

Publication Date

1-1-2020

Keywords

financial stress, formal financial services, household financial decision-making, immigrants, savings

Abstract

Research has established a link between financial challenges and mental health outcomes. Understanding this linkage among low-income Latinas who face unique experiences and challenges in relation to managing their household finances is important. This study utilized a community-based participatory qualitative research method to explore perspectives on financial and mental health among Latinas residing in Los Angeles County. Three focus groups were conducted with mainly immigrant, Spanish-speaking, low-income Latinas (n = 37). The study found that, though participants face financial stressors tied to managing finances, they were eager to learn new skills and tools for improved financial practices and mental health therapies. For financial education interventions targeted to Latinas, it is best to use interventions that incorporate peer support groups, improve knowledge about financial management tools and financial products available in the community, and therapeutic interventions to address financial stress.

Publication Title

Journal of Financial Therapy

ISSN

19457774

E-ISSN

19449771

Volume

11

Issue

2

First Page

52

Last Page

78

DOI

10.4148/1944-9771.1221

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