One of those studies, led by Kathryn Maguire-Jack, a prof of social work at the University of Michigan, helps explain the relationship between financial stress and family violence. This stress greatly affects children’s social development. Research demonstrates the effect of financial burdens on family budgets. They permeate our family life, undermining the health of children and their social development.
The resulting study compared data from more than 3,000 families living in 20 large U.S. metropolitan areas. Modeled after the Future of Family and Child Wellbeing Study, it tracked children from age 3 to age 9. These results indicate that mothers experiencing high levels of material hardship are at greater risk of depression. In addition, they often exhibit lower quality co-parenting relationships by the time their children reach five years of age.
Interconnected Experiences of Hardship
Maguire-Jack emphasizes that “financial stress doesn’t just show up in the bills—it shows up in family life.” Together, the study findings suggest that mothers’ and fathers’ experiences of hardship are not only connected, but mutually dependent. When one parent is financially devastated, the other parent typically bears that burden as well. This interconnectedness points to the need for a more holistic solution to financial stress—one that takes into account the experiences of both parents.
The more financial stress parents are under, the worse their shared parenting relationship becomes. This added neglect may add more strain to the home, causing children to feel even less stable. Kids who watch their parents deal with money problems have worse social skills. However, by age nine these impacts start to show more clearly.
Long-term Effects on Children
The implications of this study are significant. The researchers found that children who experience financial struggles within their families show notable deficits in social skills as they grow. These skills are critical for building peer relationships, understanding the social world around them, and growing their emotional intelligence.
The study’s authors—Yiran Zhang, Susan Yoon, Juan Lorenzo Benavides, Yujeong Chang from Ohio State University, and Jingyi Wang from Hong Kong University—stress the wider effects of financial distress. They stress that its impacts go well beyond short-term economic interests. The lasting impact on a child’s social skills can affect their health and future success for years to come.
Addressing Financial Stress for Better Outcomes
This new research is shedding light on how deeply financial stress affects family life. Additionally, prioritizing this issue is a major step to investing in our children’s growth and prosperity. According to experts, these interventions are a proven way to alleviate economic stressors on families. This, in turn, can lead to improved co-parenting relationships and a more stable home environment for children.
Maguire-Jack’s work focuses on child abuse and neglect, poverty, and parenting practices, shedding light on how socioeconomic factors play a vital role in a child’s upbringing. By drawing insights from such connections, stakeholders from policymakers to community organizations can more effectively craft interventions that serve families struggling to make ends meet.