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The impact of savings and credit on health and health behaviours: an outcome-wide longitudinal approach

Author

Listed:
  • Piotr Białowolski

    (Harvard University
    Harvard T. H. Chan School of Public Health
    WSB University)

  • Dorota Węziak-Białowolska

    (Harvard T. H. Chan School of Public Health)

  • Tyler J. VanderWeele

    (Harvard T. H. Chan School of Public Health)

Abstract

Objectives This study evaluated decisions related to debt and savings on physical health, emotional health and health behaviours. Methods The longitudinal data from the Polish biennial household panel—Social Diagnosis Survey—were used. Evidence for a link between credit/savings and health/health behaviours was presented using three waves of the data and an outcome-wide regression analysis. To circumvent endogeneity, variables temporally prior to exposure were used as controls. Sensitivity analysis for unmeasured confounding, conducted using E-values, provided a check for robustness. Results Debt proved a significant stressor, affecting three of five physical health measures. Over-indebted individuals suffered even more in terms of physical health outcomes. The role of savings in physical health was much less significant, yet had significant bearing on measures of emotional health. In terms of emotional health, debt (over-indebtedness in particular) influenced loneliness and increased suicidal thoughts. With respect to health behaviours, savings appeared significant in reducing smoking and increasing uptake of sport activities, while debt had no significant effect in these areas. Conclusions Recommendations are formulated to foster saving activity and develop institutional solutions for over-indebtedness.

Suggested Citation

  • Piotr Białowolski & Dorota Węziak-Białowolska & Tyler J. VanderWeele, 2019. "The impact of savings and credit on health and health behaviours: an outcome-wide longitudinal approach," International Journal of Public Health, Springer;Swiss School of Public Health (SSPH+), vol. 64(4), pages 573-584, May.
    • Handle: RePEc:spr:ijphth:v:64:y:2019:i:4:d:10.1007_s00038-019-01214-3
    DOI: 10.1007/s00038-019-01214-3
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    7. Tinghui Li & Junhao Zhong & Mark Xu, 2019. "Does the Credit Cycle Have an Impact on Happiness?," IJERPH, MDPI, vol. 17(1), pages 1-19, December.
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    10. Encarnación Sarriá & Patricia Recio & Ana Rico & Manuel Díaz-Olalla & Belén Sanz-Barbero & Alba Ayala & María Victoria Zunzunegui, 2019. "Financial Fraud, Mental Health, and Quality of Life: A Study on the Population of the City of Madrid, Spain," IJERPH, MDPI, vol. 16(18), pages 1-14, September.
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    12. Bialowolski, Piotr & Weziak-Bialowolska, Dorota & McNeely, Eileen, 2021. "A socially responsible financial institution – The bumpy road to improving consumer well-being," Evaluation and Program Planning, Elsevier, vol. 86(C).
    13. Belén Sanz-Barbero & Ana Rico Gómez & Alba Ayala & Patricia Recio & Encarnación Sarriá & Manuel Díaz-Olalla & María Victoria Zunzunegui, 2020. "Impact of self-reported bank fraud on self-rated health, comorbidity and pain," International Journal of Public Health, Springer;Swiss School of Public Health (SSPH+), vol. 65(2), pages 165-174, March.

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