Abstract
The purpose of this descriptive, mixed-methods study was to examine perceived impacts of participation in a financial management program for those with mental-health or substance-use disorders. Data from 17 participants included demographics, overall well-being from the PHS-WB scale, and perceived impact of a financial management account program. The research findings can guide OT practitioners in assessment and intervention in this area of occupation.
Primary Author and Speaker: Jennifer Gardner
Additional Authors and Speakers: Sarab Rodar
Contributing Authors: Michal Ben-Baruch, Amy Beronio, Jennifer Malinak, Lisa Pignataro, Margaret Swarbrick, Stephen Olker
Many individuals with mental health and/or substance use disorders often have difficulty with managing their finances. They can make impulsive purchases, lend money to others and purchase drugs or alcohol, all of which can impact social functioning and health. People with mental health disorders consistently rank improving their financial management skills as one of the most important personal goals and failure to perform these skills can lead to poverty, decreased self efficacy and quality of life and increased hospitalizations. Despite this reported client need, there is little literature in occupational therapy. Hence, the purpose of the study was to examine the impact of a financial management program in order to guide practitioners in providing assessment and intervention in this area of occupation.
The research study was descriptive in nature and utilized a concurrent mixed methods design for analysis. The researchers targeted 128 potential participants who were currently enrolled in a Financial Management Account (FMA). Inclusionary criteria were as follows: 1.) 18 years of age or older; 2.) A member of the Supportive Housing Program; 3.) Enrolled in the Financial Management Account; 4.) Diagnosed with a mental disorder, substance use disorder or both; 5.) Have the ability to understand, speak, read and write English.
The potential participants were mailed a research packet which contained an informed consent letter, demographic survey, Public Health Surveillance Well Being (PHS-WB) scale, financial management survey, debriefing form, telephone interview contact form and a prepaid preaddressed envelope to mail the enclosed surveys back to researchers. Within the letter packet, potential participants also consented to participate in a telephone interview which was the basis of the qualitative analysis. The quantitative data (n=17) was analyzed with SPSS software, which calculated frequencies, means and standard deviations of responses. The qualitative data was analyzed by reviewing transcribed interviews and identifying commonalities for form overall categories.
Results indicated that the FMA program impacted the participants’ lives the most in the following areas: overall quality of life, mental and physical wellbeing, self-determination, and feeling of security (i.e., not losing place of residence). They reported the two skills they felt most capable of performing were: making a monthly budget and prioritizing necessary vs. optional spending.
Evidence based financial management interventions can be used in conjunction with traditional mental health therapy to assist with improving overall quality of life, mental and physical wellbeing, self-determination, confidence and self-esteem, feeling safe and secure as well as decreasing substance use, homelessness and hospitalizations. Given the impact of this study, practitioners are encouraged to consider interventions that include financial management training and skill development as part of their intervention process that will provide opportunity for best possible outcomes.
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