The cost of living crisis is a pressing issue that affects children's mental health in ways that are often overlooked. While the economic impact is measured through GDP figures and interest rates, the psychological toll on children is felt through household stress, tension, and anxiety. This is particularly evident in the context of Ireland's Great Recession, where families experienced sudden and deep economic insecurity. The Growing Up in Ireland study, a large longitudinal study of children and their families, found that the association between maternal mental health and child psychological wellbeing is a strong and consistent relationship. This highlights how economic crises can affect children indirectly through the pressures placed on adults. Financial stress does not remain confined to household budgets; it can impact stress levels, emotional wellbeing, and family dynamics. Children are highly sensitive to these changes, even if they don't fully understand the causes. The research also emphasizes the importance of broader measures of household and financial stability for child wellbeing. Housing problems, for instance, are associated with greater socioeconomic inequalities in depressive symptoms in several countries. This is a critical issue, as housing insecurity has become a significant social problem in Ireland, with many families experiencing increased economic insecurity through housing pressures, childcare costs, and broader cost-of-living concerns. Children experience these pressures differently from adults, through tension at home, changes in routine, uncertainty, and emotional stress within families. Stable and supportive home environments can act as protective factors during periods of economic uncertainty, while prolonged insecurity may place additional strain on family-wide psychological wellbeing. One of the more hopeful findings from resilience research is that not all children experience economic crises in the same way. Strong family relationships, social supports, and stable routines can help buffer some of the effects of economic stress. However, the impact of economic downturns on children's mental health cannot be overstated. Economic policy, therefore, should also be considered a social policy. Decisions related to housing, employment protections, healthcare access, childcare, and family supports can significantly shape child wellbeing, extending far beyond immediate economic outcomes. In conclusion, the cost of living crisis has a profound impact on children's mental health, affecting them through household stress, disrupted routines, financial insecurity, and changes in parental time and wellbeing. The effects of recessions on children and families can persist long after the official end, reminding us that economic conditions and policy decisions can shape childhood experiences in ways that are not always captured in national statistics.
