The British Household Worry Scale: How Much Should You Be Worried About the Economy?

Do you worry about the state of the economy? If so, how much? The scale of worry for many people would be high. However, whether it is high enough to qualify as a pathology or simply an exaggerated response to current events may be up for debate. For most people, worries can come from any number of sources – personal finances, threats to the job market, housing costs, the cost of living in general and so on. But what if you could measure your level of concern in a standardized way? Moreover, what if you could do this on a scale that had been validated by psychologists and not just made up by someone who thinks they’re being clever?

What is the British Household Worry Scale?

The BHW is a measure of the level of economic anxiety of the people being tested. In the UK, it is used to track the economic stress that people are feeling. It has also been used in other countries, such as the US and Australia, to track economic anxiety between different groups of people. The test is a 16-point Likert scale asking respondents to indicate how much they are worrying about a variety of economic issues. The issues included are:

– The cost of living

– How much money you have in savings

– The job situation

– How secure your job is

– The state of the housing market

– How likely it is that you will lose your home

– The state of the stock market

– The level of interest you are getting on your savings

– The national debt

– The state of government finances

– The strength of the British pound against other currencies

– The current level of inflation

– The value of your pensions

– Whether you will have enough money to retire

– The level of corruption in British businesses

– Whether the government is making progress on the issues above

– Whether the news media is exaggerating issues above

Key Findings from the British Household Worry Scale

There are a couple of key findings that can be drawn from the BHW scale. Firstly, we can see that people’s level of worry varies depending on what they are being asked about. For instance, concern over the cost of living is generally higher than concern over the state of the housing market. Next, we see that people worry more about certain aspects of the economy than others. For example, the level of corruption in British businesses is generally lower than the level of interest people are receiving on their savings accounts.

Recommendations Based on Your Scores

If you scored high on the BHW scale: This means that you are likely more worried about the state of the economy than most people. While increased economic anxiety is not a pathological issue, it does affect your mental health. If your score is high, you may benefit from speaking to a therapist about ways in which you can manage the stress that the economy is causing you.

If you scored low on the BHW scale: This means that you are generally less worried about the state of the economy than most people. While you may not be as worried as others, that doesn’t mean that you shouldn’t be paying attention.

If you scored in the middle of the BHW scale: This means that you are worrying about the state of the economy to a level that most people are also worrying at. You might be one of those people who gets worried first when something goes wrong and then gets less worried when everything is resolved.

Conclusion

The British Household Worry Scale is a measure of how worried people are about the state of the economy. The more worried people are, the higher their BHW score will be. The scale was initially developed in the UK with the purpose of tracking the level of economic anxiety that people are feeling. It has since been used in other countries, such as the US and Australia, to track economic anxiety between different groups of people. This scale can be useful for anyone who wants to see how worried they are about things like the cost of living and the job situation. It is also useful for tracking how worried people are over time to see if the situation is improving.

Author: Darren Cohen – manager at UK emergency food specialist www.foodbunker.co.uk