Effectiveness of Internet-based Self-help Money Management Program in Increasing in Financial Self-efficacy Among the Adult Population With Severe Mental Illness: A Randomized Controlled Trial
Trial Snapshot
- Phase
- Not Applicable
- Status
- Completed
- Sponsor
- Enrollment
- 130
- Locations
- 3
- Primary Endpoint
- Change from Baseline Assessment in Financial Behaviour at Post-Intervention Assessment and Follow-up Assessment
Study Overview
Brief Summary
This experimental study aims to develop an internet-based self-help money management program that improve financial self-efficacy and its associated adverse outcomes among adult population with severe mental illness. In particular, this study compares the efficacy of the internet-delivered self-help money management program with the wait-list control group.
The online money management program course will consist of 4 weekly modules, incorporating the key components of money management and the Model of Human Occupation (MOHO). The program include the concept of money management, money management skill, and risk of financial exploitation. The main component of each module will be presented in video format, quiz, and homework. Materials will be presented interactively to facilitate engagement.
Detailed Description
Money management is necessary for people with severe mental illness (SMI) to live safely in the community. Collective evidence has suggested that mental disorder leads to drift into poverty, is strong. Most of them struggle to meet basic needs with their existing income. Financial instability has been consistently linked to an increased risk of relapse. This experimental study aims to develop an internet-based self-help money management program that improve financial self-efficacy and its associated adverse outcomes among adult population with severe mental illness. Its efficacy will be compared with the wait-list control group. We hypothesized that (1) participants who received a money management program will improve financial self-efficacy after the intervention as compared with the wait-list controls; (2) participants from the money management program will have better financial well-being after the intervention as compared with the wait-list controls.
The online money management program course will consist of 4 weekly modules, incorporating the key components of money management and the Model of Human Occupation (MOHO), including the concept of money management, money management skill, and risk of financial exploitation. Each module will consist of the main component presented in video format, quiz, and homework. Materials will be presented interactively to facilitate engagement.
Study Design
- Study Type
- Interventional
- Allocation
- Randomized
- Intervention Model
- Parallel
- Primary Purpose
- Supportive Care
- Masking
- Double (Investigator, Outcomes Assessor)
Eligibility Criteria
- Ages
- 18 Years to — (Adult, Older Adult)
- Sex
- All
- Accepts Healthy Volunteers
- No
Inclusion Criteria
- •Hong Kong residents
- •Age ≥18 years
- •Carrying a diagnosis of mental illness
- •Being able to read Chinese
- •Have a computer, tablet and/or smartphone device with Internet access
- •Willing to give informed consent and comply with the trial protocol
Exclusion Criteria
- Not provided
Arms & Interventions
Money management group
Participants in the money management condition start the 4-week money management program immediately after randomization and complete the post-intervention assessment right after they finish the treatment. They will be invited to participate in an interview after completing the post-intervention assessment.
Intervention: Internet-based self-help money management program (Behavioral)
Waitlist control group
Participants in the waitlist control group will wait for 4 weeks without the money management program and then complete the post-intervention assessment. The waitlist control participants will start a money management program (equivalent to that of the money management group) immediately after completing the post-intervention assessment.
Outcomes
Primary Outcomes
Change from Baseline Assessment in Financial Behaviour at Post-Intervention Assessment and Follow-up Assessment
Time Frame: Before intervention, Immediately after intervention, and 4 weeks after intervention
Change in financial behaviour is assessed by asking participants to indicate the extent to which they perform six positive financial behaviours in a 5-point Likert scale, ranging from 1 (strongly disagree) to 5 (strongly agree).
Change from Baseline Assessment in Financial Self-Efficacy on the Financial Self-Efficacy Scale at Post-Intervention Assessment and Follow-up Assessment
Time Frame: Before intervention, Immediately after intervention, and 4 weeks after intervention
The Financial Self-Efficacy Scale assess the change in a 5-point Likert scale, ranging from 1 (strongly disagree) to 5 (strongly agree).
Change from Baseline Assessment in Financial Attitude at Post-Intervention Assessment and Follow-up Assessment
Time Frame: Before intervention and Immediately after intervention, and 4 weeks after intervention
Change in financial attitude is assessed by asking participants to indicate their views about performing six positive financial behaviours in a 5-point Likert scale, ranging from 1 (strongly disagree) to 5 (strongly agree).
Change from Baseline Assessment in Financial Well-Being on the CFPB Financial Well-Being Scale at Post-Intervention Assessment and Follow-up Assessment
Time Frame: Before intervention and Immediately after intervention, and 4 weeks after intervention
The CFPB Financial Well-Being Scale assess the change in a 5-point Likert scale, ranging from 0 (not at all) to 4 (completely).
Secondary Outcomes
- Change from Baseline Assessment in Psychological Wellbeing on the World Health Organisation-Five Well-Being Index (WHO-5) at Post-Intervention Assessment and Follow-up Assessment(Before intervention and Immediately after intervention, and 4 weeks after intervention)
- Change from Baseline Assessment in Depressive Symptom on the Patient Health Questionnaire-9 (PHQ-9) at Post-Intervention Assessment and Follow-up Assessment(Before intervention and Immediately after intervention, and 4 weeks after intervention)
- Change from Baseline Assessment in Anxiety Symptom on the General Anxiety Disorder-7 (GAD-7) at Post-Intervention Assessment and Follow-up Assessment(Before intervention and Immediately after intervention, and 4 weeks after intervention)
- Change from Baseline Assessment in Quality of Life on the Twelve-Item Short-Form (SF-12) Health Survey at Post-Intervention Assessment and Follow-up Assessment(Before intervention and Immediately after intervention, and 4 weeks after intervention)
- Treatment satisfaction on the internet (Acceptability of the Internet for delivering online programs) at the Interview after Post-Intervention Assessment(Immediately after Post-Intervention Assessment)
- Treatment adherence at the Interview after Post-Intervention Assessment(Immediately after Post-Intervention Assessment)
- Treatment satisfaction at the Interview after Post-Intervention Assessment(Immediately after Post-Intervention Assessment)
Investigators
CHAN Ka Shing Kevin
Associate Professor, Head of Department of Psychology
Education University of Hong Kong