Anxiety As a Mediator between Minority Stress and Financial Stress Among Sexual Minority Men

Objectives. Sexual minority men (SMM) often experience more challenging financial and mental health circumstances compared to heterosexual men. As SMM may be especially vulnerable to discrimination, they may face increased financial hardships, such as being cutoff from family and risk housing instability, in comparison to their heterosexual peers. Experiences of minority stress, such as sexual orientation microaggressions, have been associated with poor mental health among SMM. However, the specific role of microaggressions in contributing to financial stress is poorly understood. Therefore, the purpose of this study was to examine the association between experiences of microaggressions and financial stress in a sample of SMM, and to explore the potential mediating effect of generalized anxiety symptoms.

Methods. In 2023, 119 SMM completed an internet-based survey about financial stress, mental health, minority stress, and demographics. Participants were recruited through geosocial networking applications (e.g., Gindr) as part of a larger study (N=239) in 2020 in the southeast US. Three major analyses were conducted. First, descriptive statistics were conducted to describe the sample. Next, bivariate associations between different constructs were measured using a correlation matrix. Finally, a mediation analysis was conducted to examine the direct and indirect effects of sexual orientation microaggression, when mediated by anxiety, on financial anxiety, while controlling for participants’ levels of financial literacy, financial behavior, their, race education, and household income.

Results. Participants, on average 40 years old (SD = 11.98), were primarily non-Hispanic white (53%) and employed full-time (79%). Over a third reported an income exceeding $75,000. They experienced moderate financial stress (M = 50.57, SD = 22.09) and sexual orientation microaggressions (M = 48.09, SD = 17.16), with average anxiety scores at 5.34 (SD = 5.54). Findings revealed that 41.5% of the variance in anxiety symptoms and 52.5% of the variance in financial stress were explained within the models. The indirect effect (β = 0.316, SE = 0.072, P < 0.001) was found to be statistically significant, indicating mediation, while the direct effect (P = 0.669) was not significant. Comparing the nonsignificant direct effect to the statistically significant total effect (β = 0.354, SE = 0.110, P = 0.001) indicates that the relationship between sexual orientation microaggression and financial stress is indeed mediated by anxiety.

Conclusions. The significant mediating role of anxiety highlights the need for targeted interventions addressing the unique challenges faced by SMM in managing financial stress. While microaggressions may contribute to increased financial anxiety, it is through a mental health pathway, indicating this connection may be amenable to intervention (e.g., cognitive behavioral therapy). Findings also emphasize the need for policy interventions and structural reforms aimed at addressing systemic barriers to financial stability and mental health access for SMM. Future research should consider how microaggressions may degrade SMM’s self-efficacy and confidence in their ability manage financial hardships, as well as the protective nature of social support and other coping resources (e.g. connection to the gay community).