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For Whom Money Matters Less: Social Connectedness as a Resilience Resource in the UK.

ABSTRACT: The current literature shows that both absolute and relative income are important for happiness, but there is little work emphasising how the strength of the relationship is dependent on personal and social factors. I hypothesise that social connectedness influences the money-happiness relationship because the effect of money is in part felt through the acquisition of social status, whereas status (and associated psychological benefits such as self-worth) can alternatively be gained through social connectedness. In particular, it is theorised that 'weak ties' when co-existing with good quality informal ties have a separable and additional benefit to subjective well-being, and that it is the socially isolated who have the most to gain from doing well financially. Social connectedness is conceptualised as a 'resilience resource' which has a buffering effect on subjective well-being. Data from the British Household Panel Survey are used, first to establish a measurement schema of connectedness using latent class analysis, and secondly in a multilevel model of life satisfaction with observations from seven consecutive years nested within individuals. The results show that connectedness makes a larger difference to satisfaction in times of financial stress, and that the satisfaction of the socially isolated can 'catch up' to some degree with those with larger networks when things are going well financially. The findings also confirm that those for whom money makes the smallest contribution to happiness are those with both strong and weak ties. Weak ties have an additional benefit compared to having strong ties alone. In summary, connectedness has the power to narrow the well-being gap that exists between times of financial struggle and times of relative comfort. It suggests that the psychological benefits of social integration have the capacity to displace money as a source of status and self-worth, and similarly that the importance of money may be exaggerated where these psychological gains are not available through other domains of life.

SUBMITTER: Richards L

PROVIDER: S-EPMC4703614 | biostudies-literature |

REPOSITORIES: biostudies-literature

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Project description:BackgroundSocial connections are crucial for our health and well-being. This is especially true during times of high uncertainty and distress, such as during the COVID-19 lockdown. This period was characterized by unprecedented physical distancing (often communicated as social distancing) measures resulting in significant changes to people's usual social lives. Given the potential effects of this disruption on people's well-being, it is crucial to identify factors which are associated with negative health outcomes, and conversely, those that promote resilience during times of adversity.AimsWe examined the relationship between individuals' levels of social connectedness during lockdown and self-reported stress, worry, and fatigue.MethodSurvey data were collected from 981 individuals in a representative sample of Austrian citizens. Data collection occurred during the last week of a six-week nationwide lockdown due to the COVID-19 pandemic. The final sample consisted of 902 participants. Participants were asked to complete validated questionnaires to assess levels of social connectedness as well as measures of perceived stress, worry-both general and COVID-19 specific-and symptoms of fatigue during the previous two weeks.ResultsOur results demonstrate that greater social connectedness during the lockdown period was associated with lower levels of perceived stress, as well as general and COVID-19-specific worries. Furthermore, we found a negative relationship between fatigue and social connectedness, which was mediated by feelings of stress, general worries, and COVID-19-specific worries-respectively, indicating that individuals with smaller network sizes, who were highly distressed during the pandemic, were also likely to report feeling more fatigued.ConclusionOur findings highlight the important role that social connections play in promoting resilience by buffering against negative physical and mental health outcomes, particularly in times of adversity in times of adversity.

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For Whom Money Matters Less: Social Connectedness as a Resilience Resource in the UK.

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