Father and teenage son smiling and embracing in a moment of affection
Australian men experiencing financial stress face a 53% increased risk of developing mental health conditions and a 29% increased risk of multiple long-term physical health conditions, according to new research from the Australian Institute of Family Studies (AIFS). The findings underscore the intertwined nature of financial and health challenges, revealing a complex cycle of disadvantage.
The study, which draws on data from Ten to Men, the largest longitudinal study on male health worldwide, highlights the strong association between earlier mental health conditions and subsequent socio-economic disadvantage. Men with moderate to severe depression were found to be 78% more likely to experience financial stress later and had a 230% higher risk of low social support. Additionally, they were 44% more likely to face discrimination compared to those without mental health issues.
Understanding the Study’s Foundation
The Ten to Men study, managed by AIFS and funded by the Department of Health, Disability, and Ageing, followed more than 13,000 men over nine years, starting in 2013-14. The participants, aged 18-55 at the study’s inception, provided a robust dataset to explore the dynamics between health and financial stress.
AIFS Research Fellow, Dr. Mulu Woldegiorgis, emphasized the study’s contribution to understanding the reciprocal relationship between financial stress and health. “Previous research suggests that a person’s economic and social factors have a far greater effect on health than health has on these factors – however, our study shows a strong effect in both directions,” Dr. Woldegiorgis stated.
The Reciprocal Nature of Health and Financial Stress
The research demonstrated that men facing financial stress or poor job quality are more likely to develop long-term health conditions. Conversely, men diagnosed with three or more long-term physical health conditions had a 70% higher risk of experiencing financial stress compared to those without such diagnoses.
AIFS Director Liz Neville highlighted the broader implications of these findings, noting the need for integrated health and social policies. “We know there is a significant wealth gap in this country that is impacting priority populations – and now we have data that clearly shows how financial stress is impacting men’s physical and mental health, and vice versa,” she said.
Implications for Policy and Society
Neville further emphasized that the issues extend beyond individual health and financial impacts to affect the economy and social cohesion. “These issues deserve our attention not only because they affect individuals, but because they also have consequences for partners, families, workplaces, and communities,” she added.
Each year, approximately 132,000 men are diagnosed with multiple long-term health conditions, with high blood pressure and depression being the most common. Rates are even higher among men living with disabilities or those who are overweight, highlighting the compounded nature of these challenges.
The Role of Social Exclusion and Support
The study also sheds light on the serious health impacts of social exclusion. Men living in disadvantaged communities or lacking support networks are particularly vulnerable, with these factors predicting poorer health outcomes and limiting recovery opportunities.
Discrimination was found to increase the risk of developing multiple long-term physical health conditions by 28%, emphasizing the health consequences of exclusion and isolation. Conversely, strong social support proved protective; men with consistent support networks and a sense of control at work were less likely to experience mental health issues, with risks reduced by 34% and 13% respectively.
By the numbers: 78% increased risk of financial stress for men with depression, 230% higher risk of low social support, and 44% more likely to face discrimination.
Looking Forward: Addressing the Cycle
The findings from the AIFS study call for a comprehensive approach to address the cycle of financial stress and health issues. Policymakers are urged to consider integrated strategies that tackle both the causes and consequences of poor health and financial hardship.
As the data reveals, the intersection of health and financial stress is not merely an individual concern but a societal one, with far-reaching implications for economic stability and community well-being. Addressing these challenges holistically could pave the way for healthier, more resilient populations.
