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Your Money or Your Life: Managing Health, Managing Money

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  • Irina Grafova

Abstract

Using the Panel Study of Income Dynamics, this paper examines the relationship between non-collateralized debt (NCD) and health behaviors. The results reveal that households whose members tend to lead less healthy lifestyles are more likely to hold NCD. There are three possible underlying hypotheses that may explain these relationships: (a) common factors, such as preferences, shaping both debt and poorer health behaviors; (b) poorer health and health behaviors causing debt; and (c) debt causing poorer health behaviors. Our findings are not consistent with a causal relationship between health behaviors and NCD. It is likely that other factors, such as time preferences, risk aversion and self-control may underlie the observed correlation. Copyright Springer Science+Business Media, LLC 2007

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  • Irina Grafova, 2007. "Your Money or Your Life: Managing Health, Managing Money," Journal of Family and Economic Issues, Springer, vol. 28(2), pages 285-303, June.
    • Handle: RePEc:kap:jfamec:v:28:y:2007:i:2:p:285-303
    DOI: 10.1007/s10834-007-9060-0
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    5. Ming-Chang Tsai & Rachel Dwyer & Ruey-Ming Tsay, 2016. "Does Financial Assistance Really Assist? The Impact of Debt on Wellbeing, Health Behavior and Self-Concept in Taiwan," Social Indicators Research: An International and Interdisciplinary Journal for Quality-of-Life Measurement, Springer, vol. 125(1), pages 127-147, January.
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    8. Irina Grafova, 2011. "Financial Strain and Smoking," Journal of Family and Economic Issues, Springer, vol. 32(2), pages 327-340, June.
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    11. Diann Moorman & Steven Garasky, 2008. "Consumer Debt Repayment Behavior as a Precursor to Bankruptcy," Journal of Family and Economic Issues, Springer, vol. 29(2), pages 219-233, June.
    12. Guettabi, Mouhcine & Munasib, Abdul, 2015. "The Impact of Obesity on Consumer Bankruptcy," Economics & Human Biology, Elsevier, vol. 17(C), pages 208-224.
    13. Linda Skogrand & Alena Johnson & Amanda Horrocks & John DeFrain, 2011. "Financial Management Practices of Couples with Great Marriages," Journal of Family and Economic Issues, Springer, vol. 32(1), pages 27-35, March.
    14. Averett, Susan L. & Smith, Julie K., 2012. "Indebted and Overweight: The Link Between Weight and Household Debt," IZA Discussion Papers 6898, Institute of Labor Economics (IZA).
    15. Qi Zhang & Zhuo Chen & Norou Diawara & Youfa Wang, 2011. "Prices of Unhealthy Foods, Food Stamp Program Participation, and Body Weight Status Among U.S. Low-Income Women," Journal of Family and Economic Issues, Springer, vol. 32(2), pages 245-256, June.
    16. Ilias‐Ioannis Kyriopoulos & Dimitris Zavras & Antonis Charonis & Kostas Athanasakis & Elpida Pavi & John Kyriopoulos, 2016. "Indebtedness, Socioeconomic Status, and Self‐Rated Health: Empirical Evidence From Greece," Poverty & Public Policy, John Wiley & Sons, vol. 8(4), pages 387-397, December.
    17. Randall A. Cantrell & Victor W. Harris & C. Brad Sewell, 2019. "Using Household Budgetary Constraints to Explore Negative-interaction Behavior Among Homeowners in Coastal Southeast United States," Journal of Family and Economic Issues, Springer, vol. 40(3), pages 455-469, September.
    18. Elena Gouskova & Ngina Chiteji & Frank Stafford, 2010. "Pension Participation: Do Parents Transmit Time Preference?," Journal of Family and Economic Issues, Springer, vol. 31(2), pages 138-150, June.
    19. David Schramm & V. William Harris, 2011. "Marital Quality and Income: An Examination of the Influence of Government Assistance," Journal of Family and Economic Issues, Springer, vol. 32(3), pages 437-448, September.
    20. Laura Argys & Andrew Friedson & M. Melinda Pitts, 2016. "Killer Debt: The Impact of Debt on Mortality," FRB Atlanta Working Paper 2016-14, Federal Reserve Bank of Atlanta.
    21. Rui Yao & Deanna Sharpe & Elizabeth Gorham, 2011. "An Exploratory Study of Chinese Americans’ Debt Ownership," Journal of Family and Economic Issues, Springer, vol. 32(4), pages 600-611, December.
    22. Walsemann, Katrina M. & Gee, Gilbert C. & Gentile, Danielle, 2015. "Sick of our loans: Student borrowing and the mental health of young adults in the United States," Social Science & Medicine, Elsevier, vol. 124(C), pages 85-93.
    23. Asare Eric & Segarra Eduardo, 2017. "Explaining Individuals¡¯ Behavior towards Their Acquisition of Students¡¯ Loan in the US," Applied Economics and Finance, Redfame publishing, vol. 4(3), pages 102-110, May.
    24. Averett, Susan L. & Smith, Julie K., 2014. "Financial hardship and obesity," Economics & Human Biology, Elsevier, vol. 15(C), pages 201-212.
    25. 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.

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