Financial difficulties in bipolar disorder part 2: psychological correlates and a proposed psychological model

Abstract

Objectives

A number of psychological variables have been shown to be prominent in bipolar disorder. However, no research has looked at the relationship between financial difficulties and psychological factors in bipolar disorder.

Aims

This study aims to look at the relationship between financial difficulties and psychological factors in bipolar disorder.

Method

Fifty-four participants with diagnosis of bipolar disorder in an adult secondary care NHS mental health service completed the questionnaire pack which included measures examining financial variables including difficulty paying bills and perceived financial wellbeing. Questionnaires measured self-esteem, impulsivity, mindfulness and dysfunctional attitudes.

Results

Financial difficulties cross-sectionally were related to a number of psychological variables such as mindfulness and impulsivity. Over time, the strongest effects were for compulsive spending which was increased over time by higher dependency and achievement cognitions, lower mindfulness and lower self-esteem. Poor perceived financial wellness lower self-esteem over time. A psychological model incorporating these and related findings is presented.

Conclusion

Psychological factors appear to be related to financial difficulties in bipolar disorder. Future research is needed to confirm the model presented here and develop interventions.

Keywords:

• Bipolar disorder
• finances
• debt
• compulsive buying
• impulsive spending.

Acknowledgements

The authors thank the staff that referred and those who took part in the study. The authors also thank Katherine Newman-Taylor for her advice on the model.

Disclosure statement

M. J. has no conflicts of interests. C. F. undertakes a programme of research, training and intervention with financial services organisations on mental health, but this has no direct bearing on the findings reported in this paper. T. R. has presented some of the results of this study to a finance company, for which money has been donated to a charity. He also presented unpaid to a charity and wrote a blog about this research. T. R. has been paid as a consultant and will receive royalties from a software company for developing an intervention around financial difficulties and mental health which uses insights from his own research including this paper, as well as findings from other published research in the area.

Additional information

Funding

This research was funded by Research Capability Funding from National Institute of Mental Health via Solent NHS Trust.