Weathering the storm together: family identification predicts future wellbeing during COVID-19 via enhanced financial resilience

Stevenson, C. ORCID: 0000-0002-2438-6425, Wakefield, J. ORCID: 0000-0001-9155-9683, Bowe, M. ORCID: 0000-0002-0491-1472, Kellezi, B. ORCID: 0000-0003-4825-3624, Jones, B. ORCID: 0000-0001-8872-5847 and McNamara, N. ORCID: 0000-0003-3123-3678, 2021. Weathering the storm together: family identification predicts future wellbeing during COVID-19 via enhanced financial resilience. Journal of Family Psychology. ISSN 0893-3200 (Forthcoming)

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Abstract

The economic crisis precipitated by the COVID-19 pandemic has placed considerable financial pressures on households across the world. These are compounded by the enforced isolation accompanying pandemic restrictions, during which individuals can struggle to access external assistance and often need to rely heavily on the social, emotional, and financial support of other family members. Previous research indicates that family financial stress has negative consequences for the mental health and wellbeing of members, but that heightened family identification can provide individuals with a stronger sense of collective financial resilience. In the present study, an online longitudinal survey of UK residents (N=172) shows that, in summer 2020, the positive relationship between individuals’ family identification and their wellbeing one month later was mediated by levels of perceived family financial efficacy and financial stress. These findings build upon existing evidence of the pivotal role of the family in financial wellbeing and suggest that supporting family units to cope with shared financial challenges may have psychological benefits over and above supporting individual family members.

Item Type: Journal article
Alternative Title: Family identification helps cope with financial stress during Covid-19 [running head]
Publication Title: Journal of Family Psychology
Creators: Stevenson, C., Wakefield, J., Bowe, M., Kellezi, B., Jones, B. and McNamara, N.
Publisher: American Psychological Association
Date: 29 November 2021
ISSN: 0893-3200
Identifiers:
NumberType
10.1037/fam0000951DOI
1500451Other
Divisions: Schools > School of Social Sciences
Record created by: Linda Sullivan
Date Added: 02 Dec 2021 11:41
Last Modified: 16 Dec 2021 09:11
URI: http://irep.ntu.ac.uk/id/eprint/45034

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