Financial Capability Support for Mental Health Issues

Overseen By Luz S Ocasio

Age: 18+

Sex: Any

Trial Phase: Academic

Sponsor: Yale University

Disqualifiers: Under 18, others

No Placebo Group All trial participants will receive the active study treatment (no placebo)

Compensation: Varies

Number of Visits: Unknown

238 Participants Needed

Trial Summary

What is the purpose of this trial?

This proposal will address financial wellbeing, an often overlooked but important factor impacting reentry for justice-involved people with mental health challenges, who are disproportionately Black and Latine. The project will change community level determinants by integrating financial capability support (one-on-one coaching and access to financial tools and services) into existing services and training bank and credit union staff to reduce discrimination. It will also support collaborative community efforts working towards upstream policy and legal reforms to reduce the incidence of those financial challenges.

Will I have to stop taking my current medications?

The trial information does not specify whether you need to stop taking your current medications.

What data supports the effectiveness of the treatment Financial Capability Support with Peer Support Services for mental health issues?

Research shows that peer-supported economic empowerment can enhance financial wellness for people with psychiatric disabilities, and financial capabilities education can strengthen community mental health efforts. Additionally, clients with clinician-payees, who often have training about mental illness, report higher satisfaction and involvement in money management, suggesting that financial support combined with mental health understanding can be effective. ^{1 2 3 4 5}

Is Financial Capability Support for Mental Health Issues safe for humans?

The research does not provide specific safety data for Financial Capability Support for Mental Health Issues, but consumer-led mental health services, which may include financial support elements, have been reported to have positive outcomes and benefits for clients without mentioning any safety concerns. ^{1 2 3 6 7}

How is Financial Capability Support with Peer Support Services different from other treatments for mental health issues?

This treatment is unique because it combines financial capability support with peer support services, where individuals who have experienced mental health challenges help others facing similar issues. This approach not only addresses financial skills but also leverages shared experiences to provide encouragement and hope, which can enhance recovery and community belonging. ^{8 9 10 11 12}

Research Team

Chyrell Bellamy, Ph.D.

Principal Investigator

Yale University

Annie Harper, Ph.D.

Principal Investigator

Yale University

Eligibility Criteria

This trial is for justice-involved individuals facing reentry challenges, particularly those with mental health issues and substance addiction. It focuses on Black and Latine communities dealing with financial hardship. Participants must be interested in receiving financial coaching and willing to engage with peer support services.

Inclusion Criteria

Have been released from jail or prison 36 months ago or less

Self-identify as having experiences with trauma, mental illness/mental distress, or substance use

Living or using services in the greater New Haven area

Exclusion Criteria

I am under 18 years old.

Not have been released from jail or prison 36 months ago or less

Not self-identify as having experiences with trauma, mental illness/mental distress, or substance use

Timeline

Screening

Participants are screened for eligibility to participate in the trial

2-4 weeks

Financial Capability Support

Participants receive one-on-one financial coaching, including monthly or more frequent meetings with a financial coach, and access to safe and affordable financial services.

12 months

Monthly or more frequent meetings

Financial Capability Support with Peer Support

Participants receive financial coaching along with additional one-on-one peer support provided by a trained Recovery Support Specialist.

12 months

Weekly meetings with peer support

Follow-up

Participants are monitored for changes in financial well-being, mental health, and other health determinants.

6 months

Treatment Details

Interventions

• Financial Capability Support with Peer Support Services

Trial Overview The study tests the integration of financial capability support into existing services for recently incarcerated individuals. This includes one-on-one coaching, access to financial tools, training bank staff to reduce discrimination, and efforts towards policy reforms.

Participant Groups

Group I: Financial Capability Support with Peer Support Experimental Treatment 1 Intervention

The participants randomized into this arm will receive services offered in the Financial Capability Support arm with the additional services of one-on-one peer support provided by a trained Recovery Support Specialist. Recovery Support Specialist, also referred to as Wellness coaches, will provide weekly meetings (30-60 minutes in duration) to the participants.

Group II: Financial Capability Support Active Control 1 Intervention

The participants in this arm will receive one-on-one financial coaching, which entails monthly or more frequent meetings with a financial coach. The initial meetings will be held in person and subsequent meetings may be held via zoom, phone, or in person depending on the comfort and convenience of the participant. Participants will also receive access to safe and affordable financial services, which includes support with managing any existing bank accounts, or supporting a person to open a new overdraft-free account. Coaches can also help people to access other financial products such as free tax preparation (VITA), credit builder loans, online bank accounts, or other products recommended by our Justice Tech partner.

Who Is Running the Clinical Trial?

Yale University

Lead Sponsor

Trials

1,963

Recruited

3,046,000+

National Institute on Minority Health and Health Disparities (NIMHD)

Collaborator

Trials

473

Recruited

1,374,000+

Findings from Research

Peer support in mental health, which has historical roots dating back to the 18th century, is gaining traction and research support for its effectiveness in engaging individuals in care and reducing emergency room visits and substance use.

Peer support programs that include positive self-disclosure and role modeling have been shown to enhance participants' hope, control, and self-care, while also decreasing depression and psychosis levels.

NCBI (Pubmed)

pubmed.ncbi.nlm.nih.gov

Peer support among persons with severe mental illnesses: a review of evidence and experience. Davidson, L., Bellamy, C., Guy, K., et al.[2022]

Peer support in mental health care, where individuals with lived experiences of mental illness provide support to others, has gained traction since the 1990s, despite facing stigma and stereotypes.

Data from four randomized controlled trials indicate that peer support can yield similar outcomes to conventional care, suggesting that individuals with a history of mental illness can effectively contribute to mental health services, though further evaluation is needed.

NCBI (Pubmed)

pubmed.ncbi.nlm.nih.gov

Peer support among adults with serious mental illness: a report from the field. Davidson, L., Chinman, M., Sells, D., et al.[2022]

References

1. United States pubmed.ncbi.nlm.nih.gov

Financial Capability: Clinicians' Assessment of Beneficiaries With Dual Diagnoses. [2020]

2. United States pubmed.ncbi.nlm.nih.gov

Peer-supported economic empowerment: A financial wellness intervention framework for people with psychiatric disabilities. [2019]

3. United States pubmed.ncbi.nlm.nih.gov

A comparison of satisfaction with clinician, family members/friends and attorneys as payees. [2019]

4. United States pubmed.ncbi.nlm.nih.gov

Use of leverage over patients' money to promote adherence to psychiatric treatment. [2018]

5. United States pubmed.ncbi.nlm.nih.gov

Financial coping strategies of mental health consumers: managing social benefits. [2021]

6. United States pubmed.ncbi.nlm.nih.gov

Can consumer-led mental health services be equally effective? An integrative review of CLMH services in high-income countries. [2022]

7. United States pubmed.ncbi.nlm.nih.gov

Financial Health and Mental Health Among Clients of a Community Mental Health Center: Making the Connections. [2015]

8. England pubmed.ncbi.nlm.nih.gov

Subjective well-being, general self-efficacy and coping with stress in former psychiatric patients preparing for the peer support role: an exploratory study. [2020]

9. Australia pubmed.ncbi.nlm.nih.gov

Australian consumer perceptions of peer support. [2018]

10. Italy pubmed.ncbi.nlm.nih.gov

Peer support among persons with severe mental illnesses: a review of evidence and experience. [2022]

11. United States pubmed.ncbi.nlm.nih.gov

Peer support in mental health services. [2014]

12. United States pubmed.ncbi.nlm.nih.gov

Peer support among adults with serious mental illness: a report from the field. [2022]