Study: People with financial problems far more likely to be anxious or depressed

People with long-term financial problems suffer from symptoms of anxiety and depression between three and four times more frequently than others, according to Tilburg University. The research was carried out due to the high rate of inflation and cost increases in recent months.

The study used data from 4,770 adult Dutch people from 2018 and 2019 before the coronavirus pandemic. Of the adults taking part, 6 to 7 percent suffer from severe anxiety and depression. When looking at only those people with long-term financial problems, the rate rose to between 25 and 27 percent, the researchers said.

The data comes from a scientific panel, based on a representative sample of the Dutch population, organized by the national statistics office, Statistics Netherlands (CBS). In addition to financial problems, other issues, such as traumatic experiences or a lack of social support also influence the development of anxiety and depression symptoms. This has been taken into account in the analysis.

To prevent the researchers from having to filter out the possible effects of the coronavirus restrictions on psychological well-being from the study, the researchers deliberately used data from before that time.

In addition to Tilburg University, data institute Centerdata and the Fonds Slachtofferhulp, a fund for providing support services to victims, also contributed to the study.