The present paper brings forward the psychological effects of the financial and economic crisis upon individuals. Following the empirical research as well as the specific literature, we discovered that the greatest psychological effect of the financial crisis upon individuals is created by the financial stress. Moreover, the study shows that the financial stress, as a psychological effect of the financial crisis, is associated with the fear of not being able to accomplish the financial needs, the impossibility to have a high standard of living, a lower self-respect and the withdrawal form former social groups.

Financial stress is the greatest psychological effect of financial crises, leading to fear of financial needs, lower self-respect, and withdrawal from former social groups.

Psychological Effects of Economic and Financial Crises on the Behaviour and Mental Health of Individuals

Key Takeaway: Financial stress is the greatest psychological effect of financial crises, leading to fear of financial needs, lower self-respect, and withdrawal from former social groups.