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The two variables selected are changes in financial situation and condition of health.
The research topic will be how changes in individual financial situations affect their condition of health.
Individual’s health condition is directly related to their wealth (financial status) in multiple ways. This research paper will be based on addressing the effects of financial fluctuations and how they affect an individual’s health conditions. Past research has shown that there are many ways in which financial stress affects individual health conditions. Generally, there is a direct link between financial situations and psychological stresses. Having a better understanding of these links will provide better methods for monitoring the state of mental health. The research will revolve around the major effects that financial stress cause on one’s health. Through the accumulation of existing evidence on the impacts of financial status, there are fundamental factors that determine health status (Adams, et al., 2014).
Researches have figured out the socioeconomic factors that affect individual health outcomes such as wealth, education, and income. These factors shape individual health status. The research will explore how each of these factors affects individual financial status which determines their ability to acquire essential health outcomes. There are factors such as the acquisition of medical insurance covers which improves individual health conditions. The acquisition of these essential aspects for maintaining health standards depends on individual financial status. Thus people with financial stability can afford Medicare covers as opposed to people suffering from financial stress. This research paper will explore these links and how they affect each other (Richardson et al., 2012).
Financial stability is important to an individual’s health. A random change in financial situations impacts significantly on one’s health status. Financial insecurity can cause chronic stress. This impacts heavily on individuals’ physical and mental health. Income level doesn’t necessarily determine whether one experiences stress or not. According to researches, it is favorable to feel in control of your spending habits and having the freedom to meet life objectives. Being stressed due to finances leads to advanced health conditions (Chen, & Pan, 2019). These health conditions in turn lead to expensive medical bills impacts on your financial health hence more stress.
Research indicates that the rise in the unemployment rate leads to a decline in physical health among the middle-aged population. Individuals faced with financial strain are more likely to be diagnosed with chronic health infections. individuals in low-earning neighborhoods are faced with more risk of battling chronic health conditions. On the contrary, researchers indicate that economic recession leads to lower mortality than in economic booming. This is explained by living more healthier lifestyles due to reduced income thus reduced alcohol and cigarettes consumption (Richardson et al., 2012).
The research found that mental illness and suicide incidents deteriorate in recessions. In the long run financial strain leads to health problems in advancing ages. Higher levels of psychological stress contribute to deteriorated physical health results both in the short and long term; such as higher rates of cardiovascular disease, poor immune response, and higher mortality rate risk (Petersen, et al., 2013). Financial situations that lead to stress affect an individual’s health and relationship with others, lack of sleep, untamed anger, losing appetite, and muscle pain.
Continued reactions due to stress develop depression. Depression may tempt people to consume drugs to cope with despair. Financial strain is responsible for many health conditions such being; weight gaining or loss, anxiety, insomnia, social withdrawal, and relationship wrangles. Financial distress leads to poor mental health problems due to financial worries. The decline in an individual’s mental health later affects the ability to manage money or often withdrawal from work duties and poor concentration. These difficulties worsen an individual’s mental strength leading to mental downfall (Piotr et al. 2021).
The positive impacts of financial situations are that savings promote the emotional health and well-being of an individual by being. This helps to make viable financial decisions. researchers found that financial control habits reduce mortality risk and promote psychological behaviors. further empirical arguments on positive health impacts suggest that excellent financial precautions promote better health conditions. Unfortunately, the financial strain may worsen mental and physical health. Individuals who get sick may be trapped by debts associated with medical bills. Higher-income earners have profound medical insurance products thus experience favorable health outcomes compared to lower-income earners. Financial strain adversely affects an individual’s financial safety and capability thus develops worry about debts. Debt is indicated as a correlate of depression (Lawrence & Melinda, 2021). The paper will also address the effect of financial stress on individual psychological wellness.
Multiple aspects determine individual financial stability such as employment. The research will also address some of these aspects that are determinative for individual financial stability. This will involve the selection of sample data from employed adults and explore trends for the past decade. According to these researches the valid remedy to financial worsening situations is based on individual actions; provision of an emergency fund, seeking employers’ help and emphasizing financial well-being habits. Promoting financial literacy programs in schools and providing credit management counseling may as well shape positive health conditions (Adams, et al., 2014). Through a prospective study on these trends, the research will be in a position to provide information on how the two variables are related.
References
Adams, J., Giles, E. L., McColl, E., & Sniehotta, F. F. (2014). Carrots, sticks and health behaviors: a framework for documenting the complexity of financial incentive interventions to change health behaviors. Health psychology review, 8(3), 286-295.
Chen, C., & Pan, J. (2019). The effect of the health poverty alleviation project on financial risk protection for rural residents: evidence from Chishui City, China. International journal for equity in health, 18(1), 1-16.
Karanikolos, M., Mladovsky, P., Cylus, J., Thomson, S., Basu, S., Stuckler, D., … & McKee, M. (2013). The financial crisis, austerity, and health in Europe. The Lancet, 381(9874), 1323-1331.
Lawrence R & Melinda S, M.A. (2021). Coping with Financial Stress. https://www.helpguide.org/articles/coping-with-financial-stress.htm
Petersen, L. A., Simpson, K., Pietz, K., Urech, T. H., Hysong, S. J., Profit, J., … & Woodard, L. D. (2013). Effects of individual physician-level and practice-level financial incentives on hypertension care: a randomized trial. Jama, 310(10), 1042-1050.
Piotr B, Dorota W, Matthew T. L, Ying C, Tyler J. VanderWeele & Eileen M. (2021). The role of financial conditions for physical and mental health.
Richardson S, Shaffer JA, Falzon L, et al. Meta-analysis of perceived stress and its association with incident coronary heart disease. American Journal of Cardiology. 2012;110(12):1711–1716. doi: 10.1016/j.amj-card.2012.08.004. [PMC free article] [PubMed] [CrossRef] [Google Scholar]
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