Financial and Mental Health: Exploratory Research

Not Applicable

Completed

• Conditions: Financial Difficulties
• Interventions: Behavioral: One-on-one financial counseling; Behavioral: Peer support group; Behavioral: Supported access to mainstream banking services; Behavioral: A matched savings account

• Registration Number: NCT03267342
• Lead Sponsor: Yale University

Brief Summary

This project will develop a model for providing low-income people with mental illness with supports that enable them to manage their money as well as possible so that they are better able to meet their basic needs, to experience less anxiety about finances, and to live fulfilling lives in the community with the greatest possible degree of independence. The project will work within a citizenship-oriented approach to mental health care, which promotes recovery through linking people with mental illness to the rights, responsibilities, roles, resources and relationships necessary to achieve full membership in society. The aims of the project are to: train clinicians and peer staff so that they are able to integrate discussion of financial issues and concerns into their work with clients; provide on-site services including financial counseling, peer support groups, help with opening a bank account, and a savings club, and; develop a 'financial health' model which can be replicated by other providers of mental health services. The investigators hypothesize that the intervention will result in improved financial health, reduced financial stress, increased community participation, and improved satisfaction with care.

Detailed Description

This study will pilot and assess financial health interventions that will provide clients with financial counseling, and information about and access to financial management tools within the framework of citizenship-oriented care, which approaches recovery by linking clients to the 5 Rs of rights, responsibilities, roles, resources and relationships needed to achieve full membership in society. Based on results of previous research, the investigators hypothesize that the intervention will result in improved financial health, reduced financial stress, increased community participation, and improved satisfaction with care for the target group.

Study Timeline

• Study Start: 2015-08-01
• Primary Completion: 2017-07-31
• Study First Submitted: 2017-08-28
• Study First Submitted QC: 2017-08-28
• Study First Posted: 2017-08-30
• Study Completion: 2017-12-31
• Status Verified: 2018-06
• Last Update Submitted: 2018-06-27
• Last Update Posted: 2018-06-29

Recruitment & Eligibility

• Status: COMPLETED
• Sex: All
• Target Recruitment: 31

Inclusion Criteria

• All participants will be adults (18 years or older).
• Participants will be clients receiving services from the CMHC.
• The investigators intend to include clients who do not have a representative payee and who are employed, or receiving supported employment services at CMHC, or interested in employment

Read More

Exclusion Criteria

• factors that compromise an individual's ability to provide informed consent such as a co-occurring organic brain syndrome or dementia
• age under 18, as the mental health center serves adults only.

Read More

Study & Design

• Study Type: INTERVENTIONAL
• Study Design: SINGLE_GROUP

Arm && Interventions

Group	Intervention	Description
All participants	One-on-one financial counseling	low-income people with mental illness will be given one-on-one financial counseling, a weekly peer support group, supported access to mainstream banking services and access to a matched savings account for a 12-14 month period.
All participants	Peer support group	low-income people with mental illness will be given one-on-one financial counseling, a weekly peer support group, supported access to mainstream banking services and access to a matched savings account for a 12-14 month period.
All participants	Supported access to mainstream banking services	low-income people with mental illness will be given one-on-one financial counseling, a weekly peer support group, supported access to mainstream banking services and access to a matched savings account for a 12-14 month period.
All participants	A matched savings account	low-income people with mental illness will be given one-on-one financial counseling, a weekly peer support group, supported access to mainstream banking services and access to a matched savings account for a 12-14 month period.

Primary Outcome Measures

Name	Time	Method
Financial health measure	up to 15 months	Improved financial health, defined as being more financially secure, and better able to plan for the future. This outcome was measured through questions about having a bank account, savings behavior, borrowing behavior, debt, financial advice, lending behavior, credit score, knowledge about credit score, perception of financial well-being, and financial attitudes.

Secondary Outcome Measures

Name	Time	Method
Wellness in 8 Dimensions Inventory	up to 15 months	A measure that outlines wellness strategies that people may use for their personal recovery. The wellness in 8 dimensions inventory is a quantitative survey with a score from 1-4 where a higher score indicates greater wellness.
Money mismanagement Measures	up to 15 months	Money mismanagement was measured quantitatively using the money mismanagement measure which includes five constructs, each scored between 0-4, with a higher score indicating worse money mismanagement (except for construct B) (note that constructs A and G were cut from the original measure): B: Responsible Spending (scored negatively) C: Perceived Problem Managing Money D: Victimization E: Impulsive spending F: Spending for Drugs and Alcohol
Citizenship instrument	up to 15 months	The citizenship measure is an instrument developed through community-based participatory and concept mapping methods including a co-researcher group of persons with mental illnesses. The measure has been validated as psychometrically sound, with the measure and its domains demonstrating good internal consistency and construct validity.; The Citizenship instrument is a quantitative survey which with a score from 1-5 where a higher score indicates a higher level of citizenship.
Financial Stress	up to 15 months	This outcome was measured through asking participants about their financial steps levels and their stress about debt in particular.
Satisfaction with CMHC Care	up to 15 months	This outcome was measured through asking how satisfied a person was with the care they receive at the mental health center, and whether they would recommend it to others.