Effects of cash on financial well-being, psychological well-being, cognitive capacity, and physical health (general physical health, sleep quality, food security, nutrition, and exercise) for low-income individuals. Other
Conditions
Interventions
Participants were randomly assigned by computer (using random numbers generated in Stata) to one of three groups, in unequal proportions chosen to maximize statistical power given the study budget. Th
Sponsors
Harvard University
Eligibility
Sex/Gender
All
Age
18 Years to 150 Years
Inclusion criteria
Inclusion criteria: 1. Adults (age 18 or over) 2. Live in the US 3. Low-income 4. Adversely affected by the COVID-19 pandemic 5. Had previously applied to the partner non-profit organization for relief funds
Exclusion criteria
Exclusion criteria: We originally preregistered to exclude participants who had previously received money from the non-profit. This exclusion criterion was later relaxed.
Design outcomes
Primary
| Measure | Time frame |
|---|---|
| Financial well-being measured using Composite index (method in Anderson 2008) of: Employment status: "Which of the following describe your work situation in the last week?" (employed vs. not). Work performance, for those who worked in the past week: "How would you rate your performance at your job in the last week that you worked?" (1 = Very poor to 5 = Excellent). Work satisfaction, for those who worked in the past week: "How satisfied do you currently feel with your job?" (1 = Not at all satisfied to 5 = Extremely satisfied). Household savings: "Approximately how much savings does your household currently have?" (dollars). Household earned income: "Over the past month, approximately how much has your household received in earned income?" (dollars). Subjective financial well-being (average of five questions, 1-5 scales): "I feel secure about my financial future"; "I am behind with my finances" (reverse coded); "Giving a gift for a wedding, birthday, or other occasion would put a strain on my finances for the month" (reverse coded); "I can currently meet my and my household's basic needs"; "I can currently afford many of the things I and my household want". Ability to raise cash in an emergency: "Imagine that you have an emergency and you need to pay $500. How possible is it that you could come up with $500 within the next 3 days?" (1 = Not at all possible to 5 = Completely possible) at 1 week, 1 month and 1 week, and 3 months and 1 week after the cash transfer;Psychological well-being measured using Composite index (method in Anderson 2008) of: Agency (average of two questions, 1-5 scales): "What happens to me in the future mostly depends on me"; "I often feel helpless in dealing with the problems of life" (reverse coded). Positive well-being and life satisfaction (average of five questions): a "best possible life" ladder rating ("Please imagine a ladder... On which step of the ladder would you say you personally feel you stand at this time?", 1 = worst to 10 = | — |
Secondary
| Measure | Time frame |
|---|---|
| Financial data (spending, saving) measured using bank account balances and transaction-level spending at continuously throughout the study | — |
Countries
United States of America
Contacts
Public ContactAnia Jaroszewicz
Outcome results
None listed