Subjective financial well-being, income and health inequalities in mid and later life in Britain.
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.
Department of Sociology, University of Surrey, Guildford, Surrey, UK. Electronic address: S.Arber@surrey.ac.uk.
Sara
S
Arber
Department of Sociology, University of Surrey, Guildford, Surrey, UK.
Kirsty
K
Fenn
Department of Sociology, University of Surrey, Guildford, Surrey, UK.
Robert
R
Meadows
D000367:Age Factors; D000368:Aged; D005260:Female; D005376:Financial Management; D054624:Health Status Disparities; D006801:Humans; D007182:Income / Q000706:statistics & numerical data*; D016015:Logistic Models; D008297:Male; D008875:Middle Aged; D057566:Self Report; D012959:Socioeconomic Factors; D006113:United Kingdom
Britain; Health inequalities; Income; Later life; Mid-life; Self-reported health; Subjective financial well-being