Depression and Financial Distress in a Clinical Population: The Value of Interdisciplinary Services and Training

• Published in: Contemporary family therapy Vol. 42; no. 1; pp. 5 - 14
• Main Authors: Ford, Megan R., Ellis, Émilie M., Goetz, Joseph, Archuleta, Kristy L., Gale, Jerry E., Grossman, Barbara, Grant, Elizabeth, Gonyea, Jennifer
• Format: Journal Article
• Language: English
• Published: New York Springer US 01-03-2020; Springer Nature B.V
• Subjects: Behavioral Science and Psychology; Clinical Psychology; Counseling; Family; Financial planning; Health problems; Interdisciplinary aspects; Mental depression; Mental health; Mental health services; Original Paper; Psychological distress; Psychology; Psychotherapy; Social Work; Sociology; System theory; Systems theory; Therapists; Training; Ecosystemic model; Depression; Interdisciplinary; Holistic; Financial distress
• ISSN: 0892-2764; 1573-3335
• DOI: 10.1007/s10591-019-09514-9

Therapy professionals who work from a systems theory perspective recognize the complex nature of client problems, as well as the value of a holistic, ecosystemic approach. In practice, a specific area of crossover that therapists may notice involves mental health issues and financial concerns; two of the most pervasive include depression and financial distress. This study sought to explore whether findings from an interdisciplinary clinical population were consistent with existing literature on the relationship between depression and financial distress. It was hypothesized that financial distress would predict depression, and that depression would predict financial distress. Evidence of a significant relationship between depression and financial distress in the interdisciplinary clinical sample was found (N = 118). As a result, additional education, training, and collaborative work with complementary areas like financial planning or financial counseling may be of benefit to therapists working with similar populations. The value and implications of interdisciplinary training, as well as an existing interdisciplinary clinic model, are discussed.