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Subjective financial well-being, income and health inequalities in mid and later life in Britain

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  • Arber, Sara
  • Fenn, Kirsty
  • Meadows, Robert

Abstract

The relationship between health and income is well established, but the link between subjective financial well-being and self-reported health has been relatively ignored. This study investigates the relationship between income, subjective financial well-being and health in mid-life and later life in Britain. Analysis of the General Household Survey for 2006 examined these relationships at ages 45–64 (n = 4639) and 65 and over (n = 3104). Logistic regression analysis was used to adjust for income and other socio-economic factors associated with self-reported health. Both income and subjective financial well-being are independently associated with health in mid-life; those with lower incomes and greater subjective financial difficulties had higher risk of reporting ‘less than good’ health. In contrast in later life, subjective financial well-being was associated with health, but the effect of income on health was mediated entirely through subjective financial well-being. The poorer health of the divorced/separated was also entirely mediated by differences in subjective financial well-being. Research on health inequalities should pay greater attention to the link between subjective financial hardship and ill-health, especially during periods of greater economic difficulties and financial austerity.

Suggested Citation

  • Arber, Sara & Fenn, Kirsty & Meadows, Robert, 2014. "Subjective financial well-being, income and health inequalities in mid and later life in Britain," Social Science & Medicine, Elsevier, vol. 100(C), pages 12-20.
    • Handle: RePEc:eee:socmed:v:100:y:2014:i:c:p:12-20
    DOI: 10.1016/j.socscimed.2013.10.016
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