The InCharge Education Foundation COPE™ Scale
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Changes in Health, Negative Financial Events, and Financial Distress/Financial Well-Being for Debt Management Program Clients
The study explores the relationship between health and financial distress/financial well-being and differences in health based on (a) time spent in a debt management program (DMP) and (b) occurrence of negative financial events. Spearman’s rho indicated those with lower financial distress, higher financial well-being in 2005 reported better health (N = 1,119, p < .001). Wilcoxon ranked sums test indicated improved health for DMP clients (n = 819) from 2003 to 2005 (p < .0001). Median tests and Mann Whitney post hoc tests indicated better health for clients reporting fewer negative financial events (N = 1,169, p < .05). For DMP clients, health improves (a) over time, (b) with lower incidence of negative financial events, and (c) with lower financial distress and greater financial well-being.
