Literature Review 1

 Davis, C.G., & Manter J. (2004). The consequences of financial stress for individuals, families and society. Accessed 2 March 2014, from http://www.pfeef.org/research/edf/Consequences-fin-stress-for-Individuals-Families-and-Society.pdf

Author Christopher Davis offers interesting insight into the topic of financial stress with a strong background in cognitive and emotional adaptations which should offer insight into the coping mechanisms of individuals struggling with this stress. 

As the title suggests, this article discusses mental, emotional and physical implications of financial stress in the context of the individual as well as other far reaching consequences of financial strain. The article begins with an explanation of financial stress as the author defines it: "the subjective, unpleasant feeling that one is unable to meet financial demands, afford the necessities of life and have sufficient funds to make ends meet" (Davis & Manter 6). Financial stress is precipitated by a stressor (a force coming from internally or the outside world which which causes stress (Davis & Manter 11)) and is a major cause of anxiety and depression in individuals, and by extension relationship strain among individuals and their families. It was observed that individuals suffering from financial stress "often became less socially competent" (Davis & Manter 28) much as well discussed through Armstrong and Hamilton. But while the effects of financial stress may begin as mental manifestations of depression and anxiety, authors Davis and Manter cite "the effect of financial distress on physical health was attributed to the effect of financial stress on mental health" (Davis & Manter 7). But to better manage stress, it is believed that a strong sense of personal mastery, a belief that one can manage stressful situations, is of paramount importance. It is later discussed that financial insecurity in parents has the ability to affect their children's economic outlook. They state, "As parents became pessimistic about their economic outlook, their children came to expect that they will not be able to find a good job in the future" (Davis & Manter 29). This is particularly important to consider in the context of higher education privatization, as we see increasing numbers of college graduates unsure of their future once they graduate and their parents worrying about how they will be able to pay back their child's student loans. 

This article will be useful to me in my research as it offers a substantial framework for not only the implications that financial stress has on an individual, but then how that stress individual affects others around them. The links that this article makes to physical health, life outlook, and social competency are recurrent themes through college stress literature and will provide a useful framework for other articles in my research.