Mid Sweden University

Financial literacy is today globally recognized as an essential life skill. However, many young adults have large debts due to consumption loans, and the situation in Sweden is escalating. Previous research has indicated a low financial literacy, and that the prevalence of mental illness is high within the group. In this report, we studied financial literacy, personal financial situation, and self-reported mental illness in a Swedish sample, comprising 2 057 respondents between 18 and 29 years. Our main findings indicate that financial literacy is lower than has previously been described, especially concerning knowledge about inflation. One in four reported they had consumption loans, one in three had loans to relatives, almost half of the respondents had perceived financial difficulties during the past year, and one out of ten had turned to the budget and debt advisor to receive help. Women showed lower financial literacy compared to men, indicating an important gender aspect. Our findings per se are sounding the alarm for policymakers to immediately pay attention in order to prevent the risk of becoming overindebted early in life. The present study highlights the urgent need to further study the complex relationship between financial literacy, personal financial situation, and mental illness among young adults.

Objective: Associations between debt and suicidal behaviour have been identified, but the research is sparse. Thus, more research is needed to understand the association between economic vulnerability and suicide. The study aimed to generate further knowledge about over-indebted individuals who have attempted suicide at least once. Method: Participants were a Swedish sample comprising 641 over-indebted individuals. The inclusion criteria were that the participants should be indebted and have been subjected to debt collection measures and/or seizure orders by the Swedish Enforcement Authority. Participants answered questionnaires regarding socio-demographic variables, debt size, history of suicide attempt, critical life events, and social contacts, and filled the Hospital Anxiety and Depression Scale (HADS). In the statistical analyses, Chi2 test for independence and t-test was used, and binary logistic regression to adjust for the confounding effects of the variables on each other. Results: The analysis revealed that nearly one in five (19.3%, N = 123) had attempted suicide at least once. A larger part of the respondents who had a history of suicide attempts reported that they were living alone (OR 2.30 (95% CI 1.34–3.89, p =.002). Many of those living alone were women (χ2 (1, n = 121) = 4.88, p = 0.03, ɸ = 0.22). Conclusions: The results of the current study point to the fact that economic vulnerability is an important psychosocial aspect to take into serious consideration concerning mental health and suicide prevention. Longitudinal research is needed to explain, predict and prevent suicide due to over-indebtedness. 

A field study collecting behavioral data was conducted to investigate effects of behavioral interventions, commonly known as nudges, in promoting the consumption of organic fruits and vegetables. Consumption, both organically and conventionally produced fruits and vegetables, was measured in a grocery store during 4 days (1 day every other week) where consumers were exposed to informational messages in combination with either emotional images or social norm messages. Measurements of daily consumption without exposure to nudges were carried out during four other days (1 day every other week, alternated with the nudging days). The results showed no effect of the nudging strategy; instead, it pointed to the importance of the price as a determinant of buying decisions. Buying ecological alternatives was associated with lower price differences between the ecological and non-ecological alternatives. We conclude that combined nudges and collected psychological data from participants may contribute to more successful nudging interventions. Some political measures in balancing the price difference between organically and conventionally produced products might also be interesting strategies in order to promote the consumption of organic fruits and vegetables.

Several pressures on planetary boundaries are directly linked to the production of goods and services driven by people's ever-increasing spending of money to improve their material living standard beyond a comfortable life. The over-spending on material consumption by people in industrialized countries, and in the growing middle and upper classes of developing countries, constitutes a serious threat to the planet, does not boost individual happiness, and exposes citizens in a society to inequalities known to negatively affect their well-being. Owing to economic means and psychological factors spurring consumption, affluence increases spending on consumption of expensive luxury goods and services that aggregated have detrimental effects on the planet. We conjecture that these effects are increased by consumer credit enabling moderately affluent people to match their peers’ and the very affluent people's spending on expensive luxury consumption, and making less affluent people over-spend money on purchases of inexpensive short-lived fast-fashion consumer products. In addition to other means to curtail current unsustainable consumption levels, our analysis highlights that consumer credit may need to be restricted. 

This cross-sectional study examined psychological mechanisms in order to increase knowledge regarding mental illness amongst 561 over-indebted individuals in Sweden. Differences were explored between individuals with probable clinical depression and/or anxiety and individuals without probable clinical depression and/or anxiety, considering objective measures of the debt, financial strain, coping strategies as well as sociodemographic variables. Furthermore, binary logistic regression analyses were performed in order to construct a model of predictors of mental illness. In order to collect the data, Hospital Anxiety and Depression Scale (HADS), Brief Coping Orientation to Problems Experienced (COPE_, as well as questions formulated by the research team, were used as measures. Prominent results showed that over-indebted individuals with probable clinical depression and/or anxiety were younger, showed greater levels of financial strain, used adaptive coping strategies to a lesser extent, and maladaptive coping strategies to a greater extent. Additionally, financial strain, use of maladaptive and emotion-focused coping, age and employment status were significant predictors of mental illness. These results put emphasis on the importance of adaptive coping as well as the psychological exposure of over-indebted individuals. 

A field intervention investigated the effect of feedback on residential electricity use in households in Sweden. For a period of eight weeks differentiated energy use for daily domestic behaviors was monitored by 15 residents via an internetbased system. Feedback designed based on Relational Frame Theory was convened to enhance motivation for energy conservation and follow-up studies analysed the maintenance of change for another 3 months. Psychological factors including values, attitudes, moral judgment competence, locus of control and sense of coherence were assessed by web surveys. No significant effects of the feedback on reduction of energy use were found. The small sample size and not monitoring warm water energy use were discussed as explanatory factors.

Based on a survey completed by 463 residents in two Swedish cities, the predictive power of value orientations, awareness of consequences, environmental concern, moral judgment competence, locus of control and sense of coherence were examined on eight types of pro-environmental behaviors and behavioral intentions. The best fitting causal model confirms partly the hypothetical model. Values indirect and direct affect pro-environmental behaviors and behavioral intentions with awareness of consequences and environmental concern as intermediate or transmitting variables. Neither pro-environmental behaviors nor behavioral intentions are affected by awareness of consequences, environmental concern, locus of control, moral judgment competence or sense of coherence. The need of more environmentally specific measures of the predictors in relation to specific behaviors is discussed.

Konsumentverket har enligt skuldsaneringslagen (SFS 2006:548) uppdrag att stödja och vägleda den budget- och skuldrådgivning som kommunerna skall svara för. Detta innefattar bland annat utbildning, metodutveckling, kunskapsbyggande och information samt utvärdering. Som ett led i detta har verket initierat en utvärdering av verksamheten från, såväl ett gäldenärsperspektiv som ur ett samhällsekonomiskt perspektiv. Föreliggande rapport är en del av en kommande större rapport rörande bl.a. ekonomi och hälsoaspekter i samband med överskuldsättning och skuldrådgivning i kommunerna. Författare är docent Richard Ahlstöm och forskningsassistent Mattias Savemark. De slutsatser och ståndpunkter som redovisas här är författarnas egna och de ansvarar för delrapportens riktighet och innehåll.