Gary says... the world is filled with pressure to simply survive in our current financial economy and this is sadly affecting our health and wellbeing
Financial pressures have a profound impact on the mental health and overall wellbeing of individuals, particularly those from lower socio-economic groups. In New Zealand, where income inequality is a persistent issue, understanding the relationship between financial pressures and mental health outcomes is crucial. Levin Family Health aims to explore the impact of financial pressures on anxiety, depression, and the overall health and wellbeing of lower socio-economic groups in our community.
Financial Pressures and Mental Health: Lower socio-economic groups often face limited financial resources, unstable employment, and inadequate access to essential services. These factors contribute to chronic stress, which can increase the risk of anxiety and depression. Financial pressures can also lead to limited access to healthcare, nutritious food, and safe housing, further impacting mental health and overall wellbeing.
Prevalence in New Zealand: Studies show a clear link between financial pressures and mental health issues among lower socio-economic groups in New Zealand. According to the New Zealand Health Survey 2018/19, adults from households below the poverty line were more likely to experience psychological distress (20.4%) compared to those above the poverty line (8.7%). This disparity highlights the vulnerability of lower socio-economic groups to mental health challenges.
Implications for Health and Wellbeing: Financial pressures can have wide-ranging implications for the health and wellbeing of individuals. Anxiety and depression, often resulting from financial stress, can lead to a decline in overall mental and physical health. Lower socio-economic groups may also face barriers in accessing healthcare, leading to delayed or inadequate treatment for mental health issues and other medical conditions.
Recommendations: To address the impact of financial pressures on anxiety, depression, and health and wellbeing in lower socio-economic groups, the following strategies should be considered:
Income support: Strengthening social welfare systems and income support programs to ensure individuals have sufficient resources to meet their basic needs.
Affordable housing: Increasing the availability of affordable housing options to reduce housing-related financial stress.
Mental healthcare accessibility: Enhancing access to affordable and culturally appropriate mental healthcare services, including counseling, therapy, and community-based support programs.
Financial literacy programs: Providing financial literacy education to empower individuals with the knowledge and skills to manage their finances effectively.
Education and skills development: Investing in education and skills training programs to enhance employability and create pathways for economic advancement.
The impact of financial pressures on lower socio-economic groups in our community is undeniable, affecting mental health, overall wellbeing, and access to healthcare. To improve the lives of individuals in these communities, it is crucial to address the underlying financial challenges through targeted interventions, income support, affordable housing, accessible mental healthcare, financial literacy programs, and education and skills development opportunities. By implementing these strategies, our community can work towards reducing inequalities, improving mental health outcomes, and promoting the overall health and wellbeing of lower socio-economic groups.
Levin Family Health wants to be part of the solution toward better health outcomes for our wider community and we a currently working on strategies that will influence change of our healthcare delivery for all sectors of our community. Keep your eyes and ears open.
