Objective To integrate quantitative and qualitative research data to analyze the current status of financial toxicity, influencing factors, and negative experiences in liver failure patients treated with artificial liver support system (ALSS). Methods An explanatory sequential mixed‑methods research design was adopted, with the quantitative research conducted first, followed by the qualitative research. (1) Quantitative research: A total of 240 liver failure inpatients treated with ALSS at a class A tertiary hospital in Guangxi from September to December 2024 were enrolled as research subjects. Data were collected using a general information questionnaire and the Comprehensive Score for Financial Toxicity based on the patient‑reported outcome measures (COST‑PROM). Multiple linear regression model was used to identify influencing factors of financial toxicity in this population. (2) Qualitative research: Fifteen patients with moderate‑to‑severe financial toxicity (COST‑PROM total score<17 points) identified from the quantitative research were selected for semi‑structured interviews. The interview data were organized and analyzed using Colaizzi's seven‑step analysis method to explore the negative experiences arising from financial toxicity in this population. Results (1) The COST‑PROM total score of the 240 ALSS‑treated liver failure patients was (25.39 ± 3.07) points, indicating an overall mild level of financial toxicity. Multiple linear regression analysis showed that working status, educational level, type of liver failure, being on the waiting list for liver transplantation, and monthly family income were independent influencing factors of financial toxicity in ALSS‑treated liver failure patients (all P<0.05). (2) Qualitative analysis extracted 4 themes. ① Persistence of financial stress and family impact: Patients endured continuous pressure stemming from expensive medical expenses and inadequate insurance reimbursement, leading to family tension and deteriorated quality of life in some households. ② Impact of multiple complex emotions: Patients experienced anxiety, depression, and guilt, accompanied by self‑denial due to feeling like a burden to their families; some patients even contemplated giving up treatment. ③ Lack of trust in social relationships: Some patients suffered social isolation due to illness, lost trust in fundraising platforms, and experienced psychological burden from relying on others for care. ④ Contradictory perceptions of the healthcare system: Patients not only relied on ALSS treatment for life extension, but also felt confused about unclear reimbursement policies and uneven distribution of medical resources. Conclusion Liver failure patients receiving ALSS treatment experience a mild level of financial toxicity in general, with working status, educational level, type of liver failure, liver transplantation waiting status, and monthly family income being its influencing factors. Among those with moderate‑to‑severe financial toxicity, the negative experiences are mainly manifested in financial‑family stress, psychological‑emotional distress, lack of social trust, and cognitive contradictions regarding the healthcare system.