Financial Literacy and Financial Toxicity Among US Veterans: Cross-Sectional Survey Informing Public Health...

Area of Science:

• Public Health Informatics
• Health Services Research
• Health Economics

Background:

• Financial toxicity poses risks to US veterans' health and care access.
• Scalable methods for identifying veterans at high risk of financial toxicity are limited.
• Public health informatics offers potential for screening and navigation workflows.

Purpose of the Study:

• To assess financial literacy and toxicity indicators in US veterans.
• To explore informatics-enabled screening strategies for financial strain.
• To identify veteran subgroups at increased risk.

Main Methods:

• Exploratory cross-sectional survey of 88 US veterans.
• Financial literacy assessed via National Financial Capability Study items.
• Financial toxicity assessed using Comprehensive Score for Financial Toxicity domains.
• Statistical analyses included logistic regression and Fisher exact tests.

Main Results:

• Female veterans showed lower financial literacy than males.
• Black veterans had lower understanding of inflation and retirement strategy.
• Lower financial literacy was associated with higher odds of financial toxicity, especially work disruption (OR 0.56, P=.03).
• Black female veterans reported high financial toxicity; financial support use was low (29%).

Conclusions:

• Financial literacy may signal vulnerability to financial toxicity in veterans.
• Work disruption and financial literacy domains are potential screening signals.
• Further research needed on screening, assessment, and navigation strategies in larger veteran populations.