Financial Anxiety: a Multidimensional Model for a Multifaceted Phenomenon

Authors: Orfei MD

DOI: 10.23880/mhrij-16000220

Volume 7, Issue 1

Abstract

The latest years, characterized by the Covid-19 pandemic and major geopolitical crises, have brought several abrupt social changes, which in turn heavily affected mental health. One of the most spread consequences of worldwide upset is financial anxiety or the sense of unsafety about one’s economic condition. Despite the evidence of its weight in individual and societal lives, it is commonly regarded merely as a subtype of anxiety state. Accordingly, so far, objective factors and a few subjective characteristics related to financial anxiety have been considered. However, a multidimensional model of this phenomenon including cognitive, personality, and physiological traits is strongly required. The impact of financial anxiety on mental health and dysfunctional economic behavior compels the adoption of a multifaceted research approach to develop clinical, economic, and political measures to support the individual and society.

Keywords: Financial Anxiety; Stress; Economic Crisis; Pandemic

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