Financial stress and avoidance behaviour: The promising role of shame resilience

There are numerous people that experience financial hardship. It is important that they get support to get financially back on track. However, they often refrain from seeking help, likely due to the shame associated with their financial situation (Keizer, 2016; Plantinga, 2019). This shame hinders their ability to adopt problem-focused coping strategies and consequently improve their financial circumstances (De Hooge et al., 2010). However, shame resilience shows a promising role in addressing this issue. It involves reducing feelings of entrapment, powerlessness, and isolation, thereby managing feelings of shame in a way so that enables people to effectively deal with their situation (Brown, 2006). This study investigates the effectiveness of shame resilience interventions in increasing communication between creditors and debtors. We conducted an experiment involving participants in debt and manipulated creditor letters to increase shame resilience. Results indicate that shame...Show moreThere are numerous people that experience financial hardship. It is important that they get support to get financially back on track. However, they often refrain from seeking help, likely due to the shame associated with their financial situation (Keizer, 2016; Plantinga, 2019). This shame hinders their ability to adopt problem-focused coping strategies and consequently improve their financial circumstances (De Hooge et al., 2010). However, shame resilience shows a promising role in addressing this issue. It involves reducing feelings of entrapment, powerlessness, and isolation, thereby managing feelings of shame in a way so that enables people to effectively deal with their situation (Brown, 2006). This study investigates the effectiveness of shame resilience interventions in increasing communication between creditors and debtors. We conducted an experiment involving participants in debt and manipulated creditor letters to increase shame resilience. Results indicate that shame resilience interventions significantly increase willingness to contact creditors and improve the perceived trustworthiness of the company. These findings suggest that applying shame resilience interventions can assist people in taking the first step toward seeking help to address their debt.Show less

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Financial stress and avoidance behaviour: The promising role of shame resilience