The Mitigating Effects of Social and Financial Capital Resources on Hardships

Abstract

Social and financial capital resources contribute significantly to socioeconomic outcomes. However, insufficient attention has been given to how these resources may mitigate potential socioeconomic setbacks and differ for gender and class groups. In our study, most of the interviewees with hardships had access to social and financial capital resources. The few with insufficient access were working class. Women accessed financial capital resources to overcome hardships more than men, whereas men were more likely to use social capital resources. Access to the resources helped ensure that almost all of the individuals in this study did not suffer the full consequences of their hardships. The hardship itself was of less importance than having access to social and financial capital resources.