IDEAS home Printed from https://ideas.repec.org/a/eee/socmed/v100y2014icp12-20.html
   My bibliography  Save this article

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

Author

Listed:
  • 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
    as

    Download full text from publisher

    File URL: http://www.sciencedirect.com/science/article/pii/S0277953613005649
    Download Restriction: Full text for ScienceDirect subscribers only

    As the access to this document is restricted, you may want to search for a different version of it.

    References listed on IDEAS

    as
    1. Manzoli, Lamberto & Villari, Paolo & M Pirone, Giovanni & Boccia, Antonio, 2007. "Marital status and mortality in the elderly: A systematic review and meta-analysis," Social Science & Medicine, Elsevier, vol. 64(1), pages 77-94, January.
    2. Szanton, Sarah L. & Thorpe, Roland J. & Whitfield, Keith, 2010. "Life-course financial strain and health in African-Americans," Social Science & Medicine, Elsevier, vol. 71(2), pages 259-265, July.
    3. Arber, Sara & Bote, Marcos & Meadows, Robert, 2009. "Gender and socio-economic patterning of self-reported sleep problems in Britain," Social Science & Medicine, Elsevier, vol. 68(2), pages 281-289, January.
    4. repec:aph:ajpbhl:1998:88:3:471-474_9 is not listed on IDEAS
    5. Ettner, Susan L., 1996. "New evidence on the relationship between income and health," Journal of Health Economics, Elsevier, vol. 15(1), pages 67-85, February.
    6. repec:mpr:mprres:6549 is not listed on IDEAS
    7. repec:aph:ajpbhl:1997:87:9:1476-1483_4 is not listed on IDEAS
    8. repec:aph:ajpbhl:2002:92:7:1151-1157_3 is not listed on IDEAS
    9. Sarah L. Szanton & Jerilyn K. Allen & Roland J. Thorpe & Teresa Seeman & Karen Bandeen-Roche & Linda P. Fried, 2008. "Effect of Financial Strain on Mortality in Community-Dwelling Older Women," Journals of Gerontology: Series B, Gerontological Society of America, vol. 63(6), pages 369-374.
    10. Brown, R. L. & Prus, S. G., 2006. "Income Inequality over the Later-Life Course: a Comparative Analysis of Seven OECD Countries," Annals of Actuarial Science, Cambridge University Press, vol. 1(02), pages 307-317, September.
    11. Cheng, Y. H. & Chi, I. & Boey, K. W. & Ko, L. S. F. & Chou, K. L., 2002. "Self-rated economic condition and the health of elderly persons in Hong Kong," Social Science & Medicine, Elsevier, vol. 55(8), pages 1415-1424, October.
    12. Dregan, Alex & Armstrong, David, 2009. "Age, cohort and period effects in the prevalence of sleep disturbances among older people: The impact of economic downturn," Social Science & Medicine, Elsevier, vol. 69(10), pages 1432-1438, November.
    13. Robert L. Brown & Steven G. Prus, 2006. "Income Inequality over the Later-Life Course: A Comparative Analysis of Seven OECD Countries," Social and Economic Dimensions of an Aging Population Research Papers 154, McMaster University.
    14. McClements, L. D., 1977. "Equivalence scales for children," Journal of Public Economics, Elsevier, vol. 8(2), pages 191-210, October.
    15. Frederick J. Zimmerman & Wayne Katon, 2005. "Socioeconomic status, depression disparities, and financial strain: what lies behind the income-depression relationship?," Health Economics, John Wiley & Sons, Ltd., vol. 14(12), pages 1197-1215.
    Full references (including those not matched with items on IDEAS)

    Citations

    Citations are extracted by the CitEc Project, subscribe to its RSS feed for this item.
    as


    Cited by:

    1. Lee, Miaw-Chwen & Huang, Nicole, 2015. "Changes in self-perceived economic satisfaction and mortality at old ages: Evidence from a survey of middle-aged and elderly adults in Taiwan," Social Science & Medicine, Elsevier, vol. 130(C), pages 1-8.
    2. Cifuentes, Myriam Patricia & Doogan, Nathan J. & Fernandez, Soledad A. & Seiber, Eric E., 2016. "Factors shaping Americans’ objective well-being: A systems science approach with network analysis," Journal of Policy Modeling, Elsevier, vol. 38(6), pages 1018-1039.
    3. Kautonen, Teemu & Kibler, Ewald & Minniti, Maria, 2017. "Late-career entrepreneurship, income and quality of life," Journal of Business Venturing, Elsevier, vol. 32(3), pages 318-333.
    4. Davillas, Apostolos & Benzeval, Michaela, 2016. "Alternative measures to BMI: Exploring income-related inequalities in adiposity in Great Britain," Social Science & Medicine, Elsevier, vol. 166(C), pages 223-232.
    5. Clayton, Maya & Liñares-Zegarra, José & Wilson, John O.S., 2015. "Does debt affect health? Cross country evidence on the debt-health nexus," Social Science & Medicine, Elsevier, vol. 130(C), pages 51-58.

    Corrections

    All material on this site has been provided by the respective publishers and authors. You can help correct errors and omissions. When requesting a correction, please mention this item's handle: RePEc:eee:socmed:v:100:y:2014:i:c:p:12-20. See general information about how to correct material in RePEc.

    For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: (Dana Niculescu). General contact details of provider: http://www.elsevier.com/wps/find/journaldescription.cws_home/315/description#description .

    If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.

    If CitEc recognized a reference but did not link an item in RePEc to it, you can help with this form .

    If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your RePEc Author Service profile, as there may be some citations waiting for confirmation.

    Please note that corrections may take a couple of weeks to filter through the various RePEc services.

    IDEAS is a RePEc service hosted by the Research Division of the Federal Reserve Bank of St. Louis . RePEc uses bibliographic data supplied by the respective publishers.