Banking apps could help manage mental health, UCD study finds

While the link between financial stability and mental health is well-established, a new University College Dublin (UCD) study reveals a major blind spot in current research: an over-reliance on self-reported surveys rather than objective financial data.

The joint review by UCD School of Computer Science and UCD School of Psychology evaluated 43 studies on financial habits and mental illness, uncovering significant gaps.

Objective data is rarely used: Only 4 of the 43 studies reviewed analysed objective financial records such as bank transaction histories or gambling data.

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